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

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Real Estate Agent with Solutions Real Estate CA DRE #01490977

Del Mar Real Estate Market Report for August 2010

 Dog Beach in NOrth Del Mar CA

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

8 homes sold in the Del Mar real estate market in August, 1/3 fewer than in July. Here's a summary of the activity: 

 

Total

Detached

Attached

# Sold

8 (down 37%)

6 (up 20%)

2 (down 71%)

Average Price

$959,375 (up 25%)

$1,063,750 (up 3%)

$646,250 (up 46%)

Days on Market

84

74

105

Sale Price/List Price Ratio

92%

91%

96%

 

Overall sales volume declined over the prior month. Average sales prices shifted upwards after a decline last month but overall remain under $1 million. 

There were 10 Del Mar homes on the market at the end of August with a Contingent status, the same as the last 2 months (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. 

35 homes entered the Del Mar real estate market in August, 4 less than last month. 

There were 184 Del Mar homes for sale at the end of August, about the same as in July (2 less). At the current rate of sales over a 6-month period, this represents an inventory of 17.1 months for detached homes (compared to 17 last month), and 11.1 months for attached properties, up from 10.6 months as of the end of July. 

15 Del Mar homes went pending in August, 4 more than in July (an increase of 36%). 

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 July 2010 

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

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Nevin Williams 09/16/2010 05:36 PM
Topic:
Real Estate Market Trends
Location:
California San Diego County Del Mar
Groups:
Posts to Localism
CALIFORNIA REAL ESTATE
Market Updates
SAN DIEGO Real Estate Agents & Loan Officers
Local Expert
Tags:
del mar real estate
del mar homes for sale

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Rainmaker
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Susie Blackmon
Ocala, FL
Ocala, Horses, Western Wear, Horse Farms, Marketing

Beautiful Del Mar. Surely any time is a good time to buy there!

Sep 06, 2010 07:38 AM #1
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William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

Hi Jeff, Sales down , prices up. Seems to becoming consistent in a lot of our markets.

Sep 06, 2010 09:41 AM #2
Rainmaker
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Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Jeff it sounds like Del Mar is one par with some of the other neighboring communities. Hope the activity gets better!

Sep 06, 2010 10:51 AM #3
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Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Jeff.. some good figures and such.  I love stats and figures and you presented some good stuff here.  Someone could hear just one particular number and just think this is the same for the whole area, which makes these types of market reports even more important.  nice job... and yes, I hope activity picks up some more.

jeff belonger

Sep 06, 2010 11:48 AM #4
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Jeff, last week I showed property to a woman who is thinking about moving here from a beach house in California.  Those are the most intimidating kinds of buyers to get, because we don't have anything close to that in these parts! 

And hey!  If only 8 homes sold, and it's not as many as the month area year before, I hope that a couple of them were yours!

Sep 06, 2010 12:04 PM #5
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Jeff Dowler, CRS

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