Del Mar Real Estate - Del Mar Real Estate Market Report for January 2010

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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 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 for buyers and sellers to be able to make informed decisions about buying and selling property. Here are the statistics obtained from the MLS for Del Mar for January 2010 (the data are believed accurate but are not guaranteed, and do not include private sales). 

Only 7 homes sold in the Del Mar real estate market in January, less than ½ the number sold in December. Here's a summary of the activity: 

 

Total

Detached

Attached

# Sold

7 (down 65%)

6 (down 62%)

1 (down 75%)

Average Price

$1,077,214 (down 41%) 

  $1,100,833 (down 49%)  

  $887,500 (up 76%) 

Days on Market

93

108

37

Sale Price/List Price Ratio

93%

89%

97%

Sales volume shifted down significantly over the prior month with a substantial decline in average sale prices (the change for attached is based ONLY on the sale of 1 house). Of the detached home sales 2 were REOs and 2 were Short Sales. 

There were 8 Del Mar homes on the market at the end of January with a Contingent status (i.e., homes with offers being reviewed by short sale and REO lenders, 6% of the total number of homes for sale). These are included in the overall Active statistics below. 

More than 3 times as many homes entered the Del Mar real estate market in January as in December, 51 compared to 16. 

There were 138 Del Mar homes for sale at the end of January, 9% more than December, the first increase in 3 months. At the current rate of sales over a 6-month period, this represents an inventory of 8.4 months for detached homes (up from 7.8 last month), and 8 months for attached properties, up from 6 months as of the end of December. 

14 Del Mar homes went pending in January, 2 more than last month. 

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

As with any statistic, 1 month of numbers is 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: 

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

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.

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

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

 

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Rainer
78,290
Celia Maddox
Solutions Real Estate-The Celtic Connection - Gilbert, AZ

Thanks for posting. I learn a lot from Active Rain blogs. Best Regards,

Feb 10, 2010 01:33 AM #1
Rainmaker
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Nevin Williams
Fairway Independent Mortgage Corporation - Cary, NC
Senior Mortgage Advisor

Jeff - Great market report...as always!  I'll make sue to have a link to it on my next Del Mar blog

Feb 10, 2010 02:47 AM #2
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Robert and Lisa Hammerstein -201-315-8618
Keller Williams Valley Realty - Hillsdale, NJ
Bergen County NJ Real Estate

Del Mar looks like a really beautiful place to live.  You really are the expert there.

Feb 10, 2010 06:49 AM #3
Rainmaker
575,553
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

Our high price market is quite slow also but with Spring coming I expect to see more activity.

Feb 10, 2010 02:16 PM #4
Rainer
329,520
Patty Luther
RE/MAX Rock-n-Roll Realty - Lewiston, ID
Lewiston ID Real Estate, Idaho-Washington

I just love reading your updates...Love your area!

Feb 10, 2010 06:05 PM #5
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The Southern California Relocation Dude
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