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

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Real Estate Agent with Solutions Real Estate CA DRE #01490977

Del Mar Real Estate Market Report for December 2009

Del Mar is a small coastal town in North San Diego County with a reputation as 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 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 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 December 2009 (the data are believed accurate but are not guaranteed, and do not include private sales). 

20 homes sold in the Del Mar real estate market in December, 3 more than in November. Here's a summary of the activity: 

 

Total

Detached

Attached

# Sold

20 (up 18%)

16 (up 23%)

4 (no change)

Average Price

$1,838,975 (up 28%)

$2,168,000 (up 24%)

$502,875 (up 28%)

Days on Market

93

108

37

Sale Price/List Price Ratio

93%

89%

97%

Sales volume shifted up fairly well over the prior month with good increase in prices as well. Part of the shoot up in detached home prices is due to the sale of a $12 million oceanfront home in the Del Mar Beach Colony (BTW one of the detached home sales was a shortie). 

There were 9 Del Mar homes on the market at the end of November 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. 

16 homes entered the Del Mar real estate market in December 2009, 1 more than in October. 

There were 127 Del Mar homes for sale at the end of December 2009, 17% fewer than in November, which had dropped 15% from October. At the current rate of sales over a 6-month period, this represents an inventory of 7.8 months for detached homes (another drop, down from 9.8 month last month), and 6 months for attached properties, another decline of almost 3 months from last month. 

12 Del Mar homes went pending in December, down 6% over last month, although given the holiday this may not be a big surprise. 

As with any statistic, 1 month of numbers are not a trend, so it is important to watch what is and has been 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 a more stable inventory with fairly consistent sales. 

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

Del Mar Real Estate - Del Mark Real Estate Market Report for November  

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

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

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

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

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

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

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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.

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All content copyright © 2010 Jeff Dowler "The California Relocation Dude" Carlsbad Homes and Real Estate Tidbits

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Ambassador
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Sheldon Neal
Bergen County, NJ - RE/MAX Real Estate Limited - Maywood, NJ
That British Agent Bergen County NJ

Up Up Up ...and away !! Looks like positive news to me !!!!

I love to see snapshots like this around the country. great job as always Jeff !

Cheers !

Jan 06, 2010 04:30 PM #1
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Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

WOW 48 million! Can you imagine being the listing broker on that home Jeff! Retirement could be a few years closer. It is good to hear inventory levels have started to fall.

Jan 06, 2010 11:48 PM #2
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Nevin Williams
Fairway Independent Mortgage Corporation - Cary, NC
Senior Mortgage Advisor

Jeff -  Nice to hear we may have some stability.  I'm waiting for the market to gain an appetite for higher risk mortgage backed securities so that the jumbo loan market can start to come back.  I don't think this will happen until HVCC policies get fixed.

Jan 07, 2010 01:50 AM #3
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jeff, December tends to be a slow month around here so it is nice to see that you guys actually had an increase in sales in December over November.

Jan 07, 2010 01:21 PM #4
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Cool! The guys weigh in!!

Sheldon - well it is good news in that community. They had had a pretty substantial inventory for a while and higher end homes not selling.

Bill - I CAN imagine. The property took over a yer to sell but not a surprise. The one I am watching if the $76 million one on the ocean.

Nevin - true. Will be interested to see what January and February do since we will be past the holidays.

George - yep, I was a little surprised, although I suspect many homes actiually went under contract in November before the holiday started.

Jeff

Jan 08, 2010 02:40 AM #5
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