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

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Real Estate Agent with Solutions Real Estate CA DRE #01490977

A view of Dog Beach (North Beach) in Del Mar California

Del Mar is a small coastal town in North Diego County, south of Solana Beach and north of La Jolla, with a reputation for being one of the most expensive towns in the county. Indeed, the Del Mar real estate market currently has two of the most expensive homes for sale in San Diego County (at $76M and $50M), and 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 information on the local Del Mar real estate market is important to make informed decisions about buying and selling property. Here are the statistics obtained from the MLS for Del Mar for August 2009 (the data are believed accurate but are not guaranteed, and do not include private sales). 

13 homes sold in the Del Mar real estate market in August 2009 (8 detached and 5 attached), an encouraging increase by 44% over July sales following two months of decline. Here's a summary of the activity: 

 

Total

Detached

Attached

# Sold

13 (up 44%)

8

5

Average Price

  $1,323,346 (down 21%) 

  $1,618,625 (down 8%)

 $850,900 (down 12%) 

Days on Market

116

85

165

Sale Price/List Price Ratio

94%

93%

95%

Sales volume increased over the prior month with a drop in prices across the board. The days on market dropped for detached homes but rose for attached (but this is based only on 5 sales). Of the Del Mar home sales in July, 1 of the detached homes was a short sale 

Looking down on Del Mar California and the ocean beyondThere were 8 Del Mar homes on the market at the end of August 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. 

30 Del Mar homes came on the market in August (25 detached and 5 attached), 4 fewer than in July which had also declined from June. 

With more sales and fewer homes coming on the market, there were 182 Del Mar homes for sale at the end of August 2009, 12% less than last month. At the current rate of sales over a 6-month period, this represents an inventory of 14.2 months for detached homes (down from 16.3 in July), and 13.4 months for attached properties, a decrease of 5 months from July 2009. 

We also saw 21 homes go pending in August (11 detached and 10 attached), almost double the number of pendings in July. 

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, however there are some encouraging numbers regarding less inventory and more sales, along with improved affordability. 

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

Del Mar Real Estate Market Report for July 2009

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If I can provide more information about Del Mar real estate, or about real estate in surrounding areas, 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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Rainer
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Sandra White
John L Scott Real Estate - Port Townsend, WA
Experienced Residential Resale Broker

Interesting report.  Del Mar is a beautiful area, and as a navitve Californian I have fond memories of summers there, and am just astounded by the average prices....Thanks for the post.

Sep 10, 2009 03:19 AM #1
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