Del Mar Homes For Sale | Del Mar Market Report for January 2011

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Real Estate Agent with Solutions Real Estate CA DRE #01490977

Del Mar Homes for Sale - Del Mar Market Report for January 2011

Dog Beach in Del Mar California 92014

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 January 2011 (the data are believed accurate but are not guaranteed, and do not include private sales). 

10 homes sold in the Del Mar real estate market in January, 17% less than in December, the second month of increased sales. Here's a summary of the activity: 

 

Total

Detached

Attached

# Sold

10 (down 17%)

5 (down 37%)

5 (up 25%)

Average Price

$1,108,283 (down 4%)

$1,782,342 (up 23%)

$434,224 (down 27%)

Days on Market

105

60

150

Sale Price/List Price Ratio

 

94%

89%

*100%

* Note - 1 home sold at asking and 2 sold for over the asking price

Overall sales volume decreased over the prior month, although 1 more attached home sold than last month. Average sales prices rose significantly for detached homes, but declined for attached.

There were 5 Del Mar homes on the market at the end of January 2011 with a Contingent status, half as many as in December (i.e., homes with offers being reviewed by short sale and REO lenders, 3% of the total number of homes for sale). These are included in the overall Active statistics below. 

51 homes entered the Del Mar real estate market in January, more than twice the number coming on the market in December during the holidays. 

There were 180 Del Mar homes for sale at the end of January, 4% less than in December, the second month of inventory decline. At the current rate of sales over a 6-month period, this represents an inventory of 17.1 months for detached homes (compared to 18.1 last month), and 16.3 months for attached properties, up from 15.3 months at the end of December

22 Del Mar homes went pending in January, 57% more than in December. 

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 December 2010

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 

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Rainmaker
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Steve Scheer
Realty Oasis - Metro Brokers - Highlands Ranch, CO
Highlands Ranch Real Estate - Denver Real Estate

That is a significant inventory increase Jeff for Del Mar, great info.

Feb 09, 2011 03:29 PM #1
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William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

Hi Jeff, I was feelng a bit disappointed until I read that there are 22 pending properties since Dec and that tells things are picking up. :-) Yeah!

Feb 09, 2011 03:37 PM #2
Rainmaker
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Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond
Inventory up, pendings up...does it mean everything is as it is? This must be your spring market surge Jeff...hope it stays moving forward.
Feb 10, 2011 01:01 AM #3
Rainmaker
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Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Jeff,

We only hear good news for the SoCal region. Glad to see the Carlsbad market's recent surge in increased confidence.

Best,

Steve

Feb 10, 2011 02:40 AM #4
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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

Another very insightful Market Report Jeff...  But wow, I'm stuck on wrapping my head around a home that fetched 48 million.  Del Mar is a very special area!!

Feb 10, 2011 11:14 AM #5
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