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

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Real Estate Agent with Solutions Real Estate CA DRE #01490977

Del Mar Market Report for November 2010

Del Mar Homes for Sale – Del Mar Market Report for November 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 November 2010 (the data are believed accurate but are not guaranteed, and do not include private sales). 

9 homes sold in the Del Mar real estate market in November, 50% more than in October. Here's a summary of the activity: 

 

Total

Detached

Attached

# Sold

9 (up 50%)

7 (up 40%)

2 (up 100%)

Average Price

$1,943,988 (up 65%)

$2,282,285 (up 74%)

$409,950 (down 20%)

Days on Market

69

79

33

Sale Price/List Price Ratio

 

94%

92%

99%

 Overall sales volume increased over the prior month - both attached home sales were REOs. Average sales prices shifted upwards dramatically for detached homes, fueled, in large part, by the sale of an $8 million oceanfront home.

There were 7 Del Mar homes on the market at the end of November with a Contingent status, 1 less than in October (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. 

36 homes entered the Del Mar real estate market in November, a decrease of 5% from last month (38 new listings). 

There were 197 Del Mar homes for sale at the end of November, just 2% less than in October. At the current rate of sales over a 6-month period, this represents an inventory of 23.8 months for detached homes (compared to 19.3 last month), and 18.8 months for attached properties, up from 11.5 months at the end of September

13 Del Mar homes went pending in November, almost double the number in October (7pendings). 

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 October 2010 

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  

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Rainmaker
1,244,593
Steven L. Smith
King of the House Home Inspection, Inc. - Bellingham, WA
Bellingham WA Home Inspector

Jeff,

I bet that lots of curious people in your market read this blog to figure out whether or not this is a good time to buy or sell.

Dec 05, 2010 02:08 PM #1
Rainmaker
551,662
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co

Hi Jeff,

A great report as usual, and you're certainly right about the affluent part!

Dec 05, 2010 02:58 PM #2
Rainer
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Geoffrey Schiering
San Diego Real Estate Pros, SDRealtyPros.com - San Diego, CA
Top San Diego Realtor Since 1999!

We’ve definitely seen an increase of buying activity with Del Mar homes.  Both the average price and the number of homes sold in Del Mar have increased more than 50%.  That doesn’t mean that Del Mar real estate is shooting up in value, but the buyers slowly coming back in to the upper end of the San Diego real estate market.

Dec 16, 2010 12:01 PM #3
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