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

By
Real Estate Agent with Solutions Real Estate CA DRE #01490977

Del Mar Real Estate Market Report for May 2010

 Del Mar Real Estate Market Report for May 2010

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 $39M), 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 May 2010 (the data are believed accurate but are not guaranteed, and do not include private sales). 

15 homes sold in the Del Mar real estate market in May, 3 more than in April. Here's a summary of the activity: 

 

 

Total

Detached

Attached

# Sold

15 (up 25%)

8 (down 20%)

7 (up 350%)

Average Price

$1,196,500 (down 62%)

$1,494,375 (down 21%)

$856.071 (up 87%)

Days on Market

121

134

54

Sale Price/List Price Ratio

90%

89%

95%

 

Sales volume rose over the prior month by 3 homes, and with an overall significant decrease in home prices for detached homes, but a substantial rise in average price for the 7 attached homes sold. 

There were 10 Del Mar homes on the market at the end of May with a Contingent status (i.e., homes with offers being reviewed by short sale and REO lenders, 5% of the total number of homes for sale). These are included in the overall Active statistics below. 

44 homes entered the Del Mar real estate market in May, up 7% from April. 

There were 185 Del Mar homes for sale at the end of May, an increase of 11% over April, and the 5th consecutive monthly increase in inventory, good news for buyers. At the current rate of sales over a 6-month period, this represents an inventory of 14.8 months for detached homes (up from 12.3 last month), and 12.8 months for attached properties, down from 13.8 months as of the end of April. 

9 Del Mar homes went pending in May, less than half the number that did so in April. 

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 April 2010  

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

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

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 Mar Real Estate Market Report for November 2009  

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

 

********************************

WANNA GOOGLE ME?

 

Follow Jeff Dowler on Twitter                       Subscribe in a reader

 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 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 Carlsbad Homes and Real Estate Tidbits

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
California San Diego County Del Mar
Groups:
Posts to Localism
CALIFORNIA REAL ESTATE
Market Updates
Local Expert
Tags:
buyers
relocation
del mar real estate
sellers
market reports
del mar homes for sale

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
1,542,383
William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

 Hi Jeff, An interesting report. Do you think the price drop in the detached sales is an aberration, over priced listings or some other set of circumstances? This is a tough market  with the really high end properties. Financing may be not be as much of an issue  for these at the lower end of the high end.

Jun 08, 2010 06:31 PM #1
Rainmaker
1,054,694
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Jeff it is good to hear that the trend remains upward on the amount of sales. I hope it continues.

Jun 09, 2010 12:45 AM #2
Ambassador
805,490
Kat DeLong
LakeView Realty Enterprises, Inc - Lake Arrowhead, CA
Realtor DRE#01235311, Lake Arrowhead Real Estate (

Nice market report on the Del Mar area.  It really is a special community. I just closed an escrow with buyers whose primary home is on Del Mar. They now have the best of both worlds. :-)

Jun 09, 2010 03:50 AM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
4,066,798

Jeff Dowler, CRS

The Southern California Relocation Dude
What's my Carlsbad CA Area Home Worth??
*
*
*
*
Spam prevention

Additional Information