Del Mar Real Homes for Sale - Del Mar Real Estate Market Report for June 2010

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Real Estate Agent with Solutions Real Estate CA DRE #01490977

Del Mar Real Estate Market Report for June 2010

 Del Mar real estate market report for June 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 June 2010 (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 June, 2 less than in May. Here's a summary of the activity: 

 

Total

Detached

Attached

# Sold

13 (down 13%)

9 (up 13%)

4 (down 42%)

Average Price

$1,963,807 (up 36%)

**$2,639,833 (up 76%)

$442,750 (down 48%)

Days on Market

70

91

24

Sale Price/List Price Ratio

90%

96%

102%

**large increase in average likely due, in part, to a $7 million sale in June 

 

Sales volume declined over the prior month by 2 homes, but with an overall significant increase in average home prices for detached homes (due to the sale of a $7 million home), and a substantial decrease in average prices for the 4 attached homes sold, 1 of which was an REO.

There were 10 Del Mar homes on the market at the end of June 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. 

45 homes entered the Del Mar real estate market in June, about the same as in May. 

There were 199 Del Mar homes for sale at the end of June, an increase of 8% over May, and the 6th consecutive monthly increase in inventory, good news for buyers, but perhaps not for sellers. At the current rate of sales over a 6-month period, this represents an inventory of 18.4 months for detached homes (up from 14.8 last month), and 13.6months for attached properties, up from 12.8 months as of the end of MAy. 

14 Del Mar homes went pending in June, 5 more than in May (an increase of 44%). 

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 May 2010  

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  

 

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Sharon Paxson
Compass - Newport Beach, CA
Newport Beach Real Estate

Jeff - nice market report about Del Mar. I love that area - it is really beautiful. Thanks for the info about the most expensive home being sold . . .

Jul 07, 2010 04:32 AM #1
Rainmaker
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Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Jeff

Del Mar looks like a beautiful place to live; I hear there are many beautiful homes there.

Jul 07, 2010 02:56 PM #2
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