What’s the Value of My Del Mar Home?
Del Mar Home Sales Report for June 2021
Del Mar is a small coastal town in North San Diego County, and is one of the more expensive communities. Del Mar so far holds the record for the most expensive property sold publicly in the MLS in San Diego County (around $48,000,000 in 2007). This oceanfront property was listed for sale again in 2019 and sold in June 2020 for $43,000,000!
Current information on the local Del Mar housing market conditions helps buyers and sellers make educated decisions about Del Mar homes for sale. These statistics were obtained from the MLS (the data are believed accurate at the time this report was written, but are not guaranteed, and do not include private/non-MLS sales).
22 homes sold in Del Mar in June, 27% fewer sales than last month. Here's a summary of the activity:
Single Family Homes Sold
18 (down 22%); 22 Average Days on Market; Average Sales Price $2,953,931 (down 18%); Average sale was 101% of original asking price
Condos, Townhomes and Duplexes Sold
4 (down 3); 4 Average Days on Market; Average Sales Price was $1,026,250 (down 12%); Average sale was 105% of original asking price.
Overall sales for June dropped from last month, with fewer sales across the board. The average sales price was lower for the single family homes compared to last month (in part due to the sale last month of 4 homes over $5M with 1 at almost $14M that raised the May average), and was lower for condo, townhome and duplex sales.
Sales prices ranged from $630,000 to $8,750,000. Average marketing time was shorter for single family homes, and significantly shorter, at only 4 days on average, for condos, townhomes and duplexes.
The median price for single family detached homes at $2,187,500 was 17% lower than last month. The median price for condos, townhomes and duplexes was $900,000, off 33% from May (the 4 sales of over $1.3M last month no doubt helped to raise the median price compared to June).
A number of buyers were able to negotiate money off the original list price on their home purchases. However, 64% of the buyers ended up paying list price or higher for their homes.
In June there were no Del Mar homes on the market with an Active under Contract status, the same as last month.
The number of new listings in June decreased from 33 last month to 21. Similarly, the number of Del Mar homes going pending (excluding homes that sold), at 13, decreased from 23 pendings in May.
Total inventory rose from last month with 7 more Del Mar homes for sale (42), some good news for those who want to buy. At the rate of sales over the last 3 months, this represents an inventory of 1.7 months for single family homes (the same as last month); there were only 3 condo, townhome and duplex listings available at the time this report was created.
The Del Mar housing market remains a very strong seller’s market for buyers of single family homes, with limited inventory of condos, townhomes and duplexes as of the end of June.
As with any statistic, 1 month does not establish a trend, so it’s important to watch the housing market in Del Mar over a period of time, especially since the market continues to shift. One cannot draw firm conclusions regarding pricing, or other trends, because of the extremes in sales prices of Del Mar properties, especially at the high end, as well as the limited number of home sales.
Please give me a call at (760) 830-1360 with any questions. I’m happy to discuss your specific housing needs, lifestyle, and budget, so we can create a plan to purchase your new Del Mar home in 2021, and/or provide the necessary market and equity information, and market preparation guidance, to help sell your Del Mar home.