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

Reblogger Nevin Williams
Mortgage and Lending with Fairway Independent Mortgage Corporation Nevin NMLS #69651

 

As usual Jeff Dowler is at it again!  Keeping all of us informed about the real estate market trends for Northern San Diego.  Below is a great report that Jeff spent a lot of time creating to help us determine when it is a good time to buy or sell.  If you are a consumer I suggest you speak with Jeff for your real estate needs.  Nobody knows real estate on the North coast of Diego better than he does!

 

Original content by Jeff Dowler, CRS CA DRE #01490977

Del Mar Real Estate - Del Mar Market Report for December 2010

Dog Beach in 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 make informed decisions about buying and selling Del Mar homes. Here are the statistics obtained from the MLS for Del Mar for December 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 December, 33% more than in November, the second month of increased sales. Here's a summary of the activity: 

 

Total

Detached

Attached

# Sold

12 (up 33%)

8 (up 14%)

4 (up 100%)

Average Price

$1,160.083 (down 40%)

$1,443,875 (down 37%)

$592,500 (up 45%)

Days on Market

59

63

49

Sale Price/List Price Ratio

95%

95%

96%

Overall sales volume increased over the prior month, while average sales prices dropped significantly overall, and for detached homes. This shift appears to be due to the sale last month of an $8M home that dramatically raised the average sale price.

There were 10 Del Mar homes on the market at the end of December with a Contingent status, 3 more than in November (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. 

21 homes entered the Del Mar real estate market in December, almost 60% fewer than in November, perhaps not surprising given the holiday season. 

There were 187 Del Mar homes for sale at the end of December, 5% less than in November. At the current rate of sales over a 6-month period, this represents an inventory of 18.1 months for detached homes (compared to 23.8 last month), and 15.3 months for attached properties, down from 18.8 months at the end of November

14 Del Mar homes went pending in December, 1 more than in November. 

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 November 2010

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  

 

 

 

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If I can provide more information about Carlsbad real estate and surrounding areas, the housing market, or otherwise assist you, friends or family in a home search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.

Serving Carlsbad (including Aviara, La Costa & Carlsbad Village),  Encinitas (including Leucadia), Cardiff, Solana Beach, Del Mar, La Jolla, Rancho Santa Fe, San Marcos (including San Elijo Hills), Oceanside, Carmel Valley, Escondido, and San Diego

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