What’s My Del Mar Home Worth? Del Mar Real Estate Market in May 2019

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

What’s the Value of My Del Mar Home?

Del Mar Real Estate Market in May 2019

 

Del Mar Beach ColonyDel Mar, a small coastal town in North San Diego County, is one of our more expensive communities. Del Mar so far holds the record for the most expensive property sold publicly in the MLS (at about $48,000,000). 

 

Up to date information on the local Del Mar housing market helps buyers and sellers make informed decisions about Del Mar homes for sale. These statistics were obtained from the MLS for Del Mar for May 2019 (the data are believed accurate at the time this report was written, but are not guaranteed, and do not include private/non-MLS sales). 

 

READ MORE:

Del Mar – Affluent Seaside Town (A Community Profile)

 

29 homes sold in Del Mar in May 2019, up 2% from last month. Here's a summary of what happened:

 

Detached Homes Sold
21 (up 50%), 50 Days on Market, Average Sales Price $1,947,095 (down 47%), Average sale 94% of original asking price

 

Attached Homes Sold
8 (no change), 82 Days on Market, Average Sales Price $1,020,250 (up 2%), Average sale 97% of original asking price

 

Overall sales for May rose significantly from last month due to the increase in detached home sales. Average sale prices decreased dramatically for detached homes, no doubt due to the sale of 6 homes over $3M (with 1 at $9.45M) last month that had raised the average substantially compared to May sales. The average sales price for attached homes rose modestly. Average marketing time decreased for detached homes but was significantly higher for attached homes.

 

Enjoy Opening Day at the Del Mar Races

 

The median price for detached homes decreased to $1,785,000 (down 31%), but rose to $1,098,500 (up 10%) for attached home sales in May compared to last month.

 

Buyers were able to negotiate, on average, 3 - 6% off the original list price in their home purchases; 1 buyer paid full price and 1 paid over asking for their homes (both detached single family homes). 24% of the sales were cash transactions, compared to 41% in April.

 

Del Mar condos near the beach

 

In May there were no Del Mar homes on the market with a Contingent status (i.e., when they happen these are often, but not always, homes with offers being reviewed by short sale and REO lenders, but some are first right of refusals).

 

There were 5 fewer new listings in May than last month, down 8% to 31. The number of Del Mar homes going pending (excluding homes that sold) also dropped to 16 pendings, down 24%!

 

There were 92 Del Mar homes for sale at the end of May, a decrease by 5% from last month, the 3rd decrease, but still well above the inventory at the beginning of the year. At the current rate of sales over a 3-month period, this represents an inventory of 4 months for detached homes (down from 5.4 months last month), and 2.9 months for attached properties, down from 4.8 months last month; the Del Mar housing market is a seller’s market for detached homes, and is now a strong seller’s market for attached homes.

 

As with any statistic, 1 month does not establish a trend, so it’s important to watch the Del Mar housing market over a period of time, especially as things are shifting. One should not draw any firm conclusions regarding pricing, or other trends, because of the extremes in sales prices of Del Mar properties, as well as the overall modest number of home sales this month.

 

Please give me a call at (760) 830-1360 with any questions. I’m happy to discuss your housing needs, lifestyle, and budget, then create a plan with you to purchase your new Del Mar home in 2019, and/or provide the necessary market and equity information and market preparation guidance to help you sell your Del Mar home.

 

SEARCH FOR DEL MAR HOMES FOR SALE

 

READ MORE:

What’s my Del Mar Home Worth? Del Mar Real Estate Market Report April 2019

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
California San Diego County Del Mar
Groups:
CALIFORNIA REAL ESTATE
Market Updates
Market Reports
HyperLocal Neighborhood and Community Posts
Tags:
del mar homes for sale
del mar beach colony homes for sale
homes for sale in del mar ca
del mar real estate market
beach homes for sale in del mar

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
382,962
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

 

Jun 14, 2019 09:49 PM #1
Rainmaker
3,201,797
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. California real estate continues to amaze me with its pricing. Enjoy your day!

Jun 15, 2019 05:41 AM #2
Rainmaker
1,870,779
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Jeff - your market reports help people understand how to match their wish lists with their budgets.  He have a good variety.

Jun 15, 2019 05:56 AM #3
Ambassador
3,761,460
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jeff I just wanted to stop by and wish you a very happy and enjoyable Father's Day!!!

Jun 16, 2019 03:18 PM #4
Rainmaker
491,675
Steven Nickens
Elite Pacific Properties Maui - Wailea, HI
R(S)GRI ABR, Maui Real Estate Hawaii

Jeff, Del Mar is such a nice beach community. I love the area and lifestyle it has to offer.

Jun 18, 2019 10:08 AM #5
Ambassador
3,937,978
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

I would always be happy to sell properties in Del Mar Sally Crane ! Thanks for stopping by.

Jeff

Jun 18, 2019 10:14 AM #6
Ambassador
3,937,978
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Especially in SOME communities Wayne Martin . Right?

Hi Grant Schneider  - I think they ARE important for consumers to read and understand.

Jeff

Jun 18, 2019 10:16 AM #7
Ambassador
3,937,978
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi George Souto 

Thank you so much! I am still catching up from the weekend - 2 of the grandkids were here (and still are) so it's been mostly family time.

Hope you had a wonderful Father's Day yourself!!

Jeff

Jun 18, 2019 10:17 AM #8
Ambassador
3,937,978
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Thanks for stopping by Steven Nickens  Del Mar is, indeed, a special place.

Hope all is well on Maui!

Jeff

Jun 18, 2019 03:29 PM #9
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
3,937,978

Jeff Dowler, CRS

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

Additional Information