Del Mar Homes for Sale | Del Mar Real Estate Market Report for July 2010

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Real Estate Agent with Solutions Real Estate CA DRE #01490977

Del Mar Real Estate Market Report for July 2010

 Del Mar real estate market report header

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 July 2010 (the data are believed accurate but are not guaranteed, and do not include private sales).

12 homes sold in the Del Mar real estate market in July, 1 less than in June. Here's a summary of the activity: 

 

Total

Detached

Attached

# Sold

12 (down 8%)

5 (Down 44%)

7 (up 75%)

Average Price

$766,889 (down 61%)

$1,030,000 (down 61%)

$351,097 (down 21%)

Days on Market

56

62

61

Sale Price/List Price Ratio

 

97%

93%

99%

 

Sales volume declined over the prior month by 1 home, with a big drop in detached home sales but an significant increase in attached home sales. Prices shifted more than they have in quite some time due to what actually sold - overall average price declined below a million, a place it has not been in a very long time. The average for detached homes last month was very high due to the sale of a $7 million home but in July 2 of the homes were under $1 million, pulling the average down. Because there were a number of small condos selling below $500K the overall average declined as it did for attached homes in general. 

There were 10 Del Mar homes on the market at the end of July with a Contingent status, the same as last month (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. 

39 homes entered the Del Mar real estate market in July, 13% less than last month. 

There were 186 Del Mar homes for sale at the end of July, a decrease of 7% over June, the first decline in 7 months. At the current rate of sales over a 6-month period, this represents an inventory of 17 months for detached homes (down from 18.4 last month), and 10.6 months for attached properties, up from 13.6 months as of the end of June.

11 Del Mar homes went pending in July, 3 less than in June (a decrease of 21%). 

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

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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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Nevin Williams 08/11/2010 04:27 PM
Topic:
Real Estate Market Trends
Location:
California San Diego County Del Mar
Groups:
Everything California
Posts to Localism
CALIFORNIA REAL ESTATE
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del mar homes for sale

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Rainer
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Tiffany Torgan
Harcourts Prestige Properties of La Jolla - La Jolla, CA
Featured on HGTV's New Show! How Close Can I Beach

HI Jeff! Nice report! I am still learning the best way to do market reports. Tiffany

Aug 11, 2010 04:13 AM #1
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Tiffany -I'm not sure there is necessarily a "right" way other than to provide information that will be of interest and use to consumers. Folks here on AR do reports in all sorts of formats, including with graphs.

BTW Did you enjoy Raincamp? I saw you from a distance but did not get a chance to say hi.

Jeff

Aug 11, 2010 04:59 AM #2
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Lee & Pamela St. Peter
Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC
Making Connections to Success in Real Estate

Jeff, there's no way around it ~ YOU my friend know your market.  This IS the way to provide useful information that anyone looking for what the Carlsbad/ Del Mar CA real estate market is like will love to read!  Keep it up!! 

Aug 11, 2010 05:37 AM #3
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William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

Hi Jeff, The variety of homes and the range in prices for Del Mar makes it difficult to draw too many conclusions at any one point in time. Regular shifts in what is selling with the number of possibilities from the more affordable to Ultra Luxurious probably defines the Del Mar Market.  Appraisers must have a very difficult time with so much diverse inventory, locations, views and subjective opinions about how they all come to make for a very unique market.

Aug 11, 2010 07:16 AM #4
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Pamela - you are too kind. I learn so much by doing these, though, and I feel it adds value.

William - so true. There are $20M beach homes and $180K condos. It really shifted this last month, though, more than I have seen in some time. I suspect it is an anomaly. Del Mar will always be popular due to the location.

Jeff

Aug 11, 2010 04:24 PM #5
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