Del Mar Homes for Sale | Del Mar Market Report for October 2010

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Real Estate Agent with Solutions Real Estate CA DRE #01490977

Del Mar Real Estate Market Report for October 2010 

Del Mar's Dog (North) Beach

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

6  homes sold in the Del Mar real estate market in October, only 1/3 of the number sold in September. Here's a summary of the activity: 

 

Total

Detached

Attached

# Sold

6 (down 67%)

5 (down 64%)

1 (down 75%)

Average Price

 $1,180,316 (down 19%) 

  $1,313,400 (down 27%) 

  $514,900 (up 97%) 

Days on Market

194

199

168

Sale Price/List Price Ratio

92%

92%

87%

 Overall sales volume declined dramatically over the prior month. Average sales prices also shifted down for detached homes, but the single attached home sold for about twice the price of the home sold in September.

There were 8 Del Mar homes on the market at the end of October with a Contingent status, 1 less than in September (i.e., homes with offers being reviewed by short sale and REO lenders, 4% of the total number of homes for sale). These are included in the overall Active statistics below. 

38 homes entered the Del Mar real estate market in October, a decrease of 16% from last month. 

There were 201 Del Mar homes for sale at the end of October, just 2% more than in September. At the current rate of sales over a 6-month period, this represents an inventory of 19.3 months for detached homes (compared to 17 last month), and 11.5 months for attached properties, up from 10.7 months at the end of September

7 Del Mar homes went pending in October, as compared to 2 in September, more than 3 times as many. 

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. 

READ MORE:   

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

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

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  

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Nevin Williams 11/14/2010 03:14 PM
Topic:
Real Estate Market Trends
Location:
California San Diego County Del Mar
Groups:
Southern California Real Estate Forum
Posts to Localism
CALIFORNIA REAL ESTATE
Market Updates
Local Expert
Tags:
del mar real estate
del mar homes for sale

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Rainer
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Jack Mossman - The Nines Team at Keller Williams in Lodi
The Nines Team at Keller Williams in Lodi - Lodi, CA
The Nines Team in Lodi

Jeff:  With pricing credentials like that I think "small coastal town" might be a bit of an understatement!  Thanks for sharing!

Nov 13, 2010 09:32 AM #1
Rainmaker
354,843
Damon Gettier
Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert - Roanoke, VA
Broker/Owner ABRM, GRI, CDPE

$61,000,000?  That is a heck of a price?  Do you think it will sell anywhere close to that?  How do you pull comps on something like that?

Nov 13, 2010 02:17 PM #2
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William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

Hi Jeff,I must be misreading the graph. I count 16 not 6 or am I just tired . :-)Which ever number is right, out of 201 active properties that is still not a lot of activity.

Nov 13, 2010 03:41 PM #4
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Hi Jeff!  Great report for Del Mar homes for sale.  Even though the numbers aren't that great, DOM appear to be acceptable and price of attached going up seems to be promising.

Have a wonderful Sunday...

Nov 14, 2010 05:14 AM #5
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Jack - well, small AND expensive.

Damon - and it was previously listed at $76M. Nothing to comp with that specifically untill you get up to Laguna or Malibu. But 6 acres of oceanfront land is pretty expensive even if the house needs to be torn down or completely gutted.

William - yep, a mistake. Now corrected.

Debe - well it's a small number of sales so hard to say too much.

Jeff

Nov 14, 2010 07:28 AM #6
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Jeff Dowler, CRS

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