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 $61M 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 February 2010 (the data are believed accurate but are not guaranteed, and do not include private sales).
10 homes sold in the Del Mar real estate market in February, 3 more than the number sold in January. Here's a summary of the activity:
|
|
Total |
Detached |
Attached |
|
# Sold
|
10 (up 42%) |
6 (no change |
4 (up by 3) |
|
Average Price
|
$1,577,400 (up 46%) |
$2,175,000 (up 98%) |
$681,000 (down 33%) |
|
Days on Market
|
70 |
92 |
37 |
|
Sale Price/List Price Ratio
|
91% |
89% |
95% |
Sales volume rose over the prior month with 3 more homes sold, with an increase in average sale price (the large change is due to the sale of 2 homes over $2 million and 1 at $5 million). Days on market dropped on average overall and for detached homes.
There were 12 Del Mar homes on the market at the end of February with a Contingent status (i.e., homes with offers being reviewed by short sale and REO lenders, 8% of the total number of homes for sale). These are included in the overall Active statistics below.
41 homes entered the Del Mar real estate market in February, down 20% from January.
There were 153 Del Mar homes for sale at the end of February, 11% more than January, the second consecutive increase. At the current rate of sales over a 6-month period, this represents an inventory of 9.7 months for detached homes (up from 8.4 last month), and 8.8 months for attached properties, up from 8 months as of the end of January.
11 Del Mar homes went pending in February, 3 less 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, as well as the fairly small number of sales, 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 January 2010
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.
All content copyright © 2010 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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