Del Mar Homes for Sale | Del Mar Real Estate Market Report for March 2011

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Real Estate Agent with Solutions Real Estate CA DRE #01490977

Del Mar Real Estate Market Report for March 2011

Del Mar Homes for Sale - Homes for Sale in Del Mar

Del Mar is a small coastal town in North San Diego County and one of the most expensive towns in the county. Indeed, the Del Mar real estate market currently has the most expensive homes for sale in San Diego County (at $61M), 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 March 2011 (the data are believed accurate but are not guaranteed, and do not include private sales). 

14 homes sold in the Del Mar real estate market in March, 70% more than in January, the third month of increased sales. Here's a summary of the activity: 

 

Total

Detached

Attached

# Sold

 

14 (down 21%)

12 (up 9%)

2 (down 67%)

Average Price

 

$1,415,401 (up 11%)

$1,518,802 (down 9%)

$795,000 (up 43%)

Days on Market

 

91

93

77

Sale Price/List Price Ratio

 

 

93%

94%

90%

Overall sales volume declined over the prior month. Average sales prices rose significantly for attached homes, but declined for detached.

There were 6 Del Mar homes on the market at the end of March 2011 with a Contingent status (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. 

41 homes entered the Del Mar real estate market in March, less than half the number of new listings in February.

There were 171 Del Mar homes for sale at the end of March, 3% less than in February, the 4th month of inventory decline. At the current rate of sales over a 6-month period, this represents an inventory of 15.9 months for detached homes (compared to 12.3 last month), and 13.9 months for attached properties, down from 13.9 months at the end of February.

25 Del Mar homes went pending in March, 38% more than in February. 

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. 

Search for Del Mar Homes for Sale

 

READ MORE: 

Del Mar Homes for Sale | Del Mar Real Estate Market Report for February 2011

Del Mar Homes for Sale | Del Mar Real Estate Market Report for January 2011

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

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Nevin Williams 04/12/2011 06:52 AM
Topic:
Home Buying
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
market reports
del mar homes for sale
homes for sale in del mar

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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,

That looks like a place where it would be fun to hop over there for a weekend.

Apr 12, 2011 02:49 AM #1
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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

Jeff, wouldn't I love average sale prices like you see!  Wowsy...  And the DOM are decent too!  Good stuff...

Apr 12, 2011 02:55 AM #2
Rainmaker
3,157,670
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Jeff, excellent market update post...I like how you add the comparisions, up or down too...well done!

Apr 12, 2011 03:10 AM #3
Rainmaker
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Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Jeff I hope the Spring market is treating you well! The activity here has jumped considerably!

Apr 12, 2011 03:53 AM #4
Rainer
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Scott Hayes
(512) 786-8300 - Austin, TX
Realty Austin, Broker Associate

Jeff,

 

A very good market report, as it would be beneficial to locals, but also anyone curious about that market, with no prior knowledge of it.

Apr 12, 2011 04:03 AM #5
Rainmaker
1,049,106
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Jeff whevever I see that picture I long for summertime! I hope your Spring is off to a rousing start.

Apr 13, 2011 12:26 AM #6
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Jeff Dowler, CRS

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