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

By
Real Estate Agent with Solutions Real Estate CA DRE #01490977

Del Mar Real Estate Market Report for May 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 home 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 May 2011 (the data are believed accurate but are not guaranteed, and do not include private sales). 

18 homes sold in the Del Mar real estate market in May, 28% fewer than in April. Here's a summary of the activity: 

 

Total

Detached

Attached

# Sold

18 (down 28%)

14 (down 22%)

4 (down 43%)

Average Price

$1,511,822 (up 21%)

$1,821,343 (up 23%)

$428,499 (down 21%)

Days on Market

72

78

53

Sale Price/List Price Ratio

 

94%

93%

98%

Overall sales volume declined, especially for attached homes (4 vs. 7 last month). At the same time, however, average sales prices increased for detached homes, but declined, again, for attached homes.

There were 6 Del Mar homes on the market at the end of May 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. 

53 homes entered the Del Mar real estate market in May, about 1/3 more than in April (40).

There were 176 Del Mar homes for sale at the end of May, 4 more than in April (2%). At the current rate of sales over a 6-month period, this represents an inventory of 11.7 months for detached homes (down from 13.2 last month), and 7.9 months for attached properties, up from 7.7 months at the end of April.

23 Del Mar homes went pending in May, 77% more than went pending last month (13).

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

Search for Del Mar Beach Colony Homes for Sale

  

READ MORE: 

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

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

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

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
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

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
564,223
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Jeff,

I'm sure the bounce up in price is putting a smile on your Sellers faces. It also bodes well for other areas.

Best,

Steve

Jun 05, 2011 02:40 AM #1
Rainmaker
3,105,192
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Jeff, wonderful job on your market report for the area...I like how you incorporate the variances /up/down etc too!

Jun 05, 2011 03:19 AM #2
Ambassador
1,508,812
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

To me, prices up really negate that # sold downward percentage!!

Great market report for Del Mar!

Jun 05, 2011 08:48 AM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
3,965,584

Jeff Dowler, CRS

The Southern California Relocation Dude
What's my Carlsbad CA Area Home Worth??
*
*
*
*
Spam prevention

Additional Information