Del Mar Real Estate - Del Mar Real Estate Market Report for July 2009

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Real Estate Agent with Solutions Real Estate CA DRE #01490977

Del Mar Real Estate Market Report

Del Mar is a small coastal town in North Diego County, just south of Solana Beach and north of La Jolla. It has a reputation for being one of the most expensive towns in the county. Indeed, the Del Mar real estate market has two of the most expensive homes for sale (still) in San Diego County, and the town still holds the record for the most expensive property sold (at about $48,000,000). 

READ MORE: Del Mar - Affluent Seaside Town (A Community Profile) 

Having up to date statistics on the local Del Mar real estate market is important so buyers and sellers can make informed decisions about buying and selling property. Here are the statistics obtained from the MLS for Del Mar for July 2009 (the data are believed accurate but are not guaranteed, and do not include private sales).

9 homes sold in the Del Mar real estate market in July 2009 (8 detached and 1 attached), a decline of 40% from June sales, which had also declined from May. Here's a summary of the activity: 

 

Total

Detached

Attached

# Sold

9 (down 40%)

8

1

Average Price

  $1,672,888 (up 9%) 

  $1,761,375 (down 10%) 

  $965,000 

Days on Market

129

143

11

Sale Price/List Price Ratio

92%

92%

93%

The number of homes sold decreased from the prior month, with fewer homes selling at significant prices (all under $3 million). 

Of the Del Mar home sales in July, 1 of the detached sales was an REO

Cafe Del Mar in downtown Del Mar CaliforniaThere were 6 Del Mar homes on the market at the end of July with a Contingent status (i.e., homes with offers being reviewed by short sale and REO lenders). These are included in the overall Active statistics below. 

34 Del Mar homes came on the market in July (19 detached and 18 attached), just 3 less than in June. 

There were 207 Del Mar homes (including the 6 with Contingent status) for sale at the end of July 2009, just 2 more homes for sale than at the end of June. At the current rate of sales over a 6-month period, this represents an inventory of 16.4 months for detached homes (about the same as last month), and 18.7 months for attached properties, a decrease of 2 months from June 2009. 

11 homes went pending in July (7 detached and 4 attached), 2 fewer than last month. 

As with any statistic, 1 month of numbers are not a trend, so it is important to watch what is happening over a period of time. One should not draw any firm conclusions regarding pricing because of the extremes in the Del Mar real estate market. The overall inventory of 16 or more months is fairly consistent with other affluent towns where the average home price exceeds $1 million. 

READ MORE: How Important is Inventory when Buying or Selling? Very!!

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If I can provide more information about Del Mar real estate and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

Search for Homes Community Information First Time Home Buyers Relocation Services and more How to get in touch with me

All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits

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