What’s the Value of My Del Mar Home?
Del Mar Real Estate Market in December 2021
Del Mar is a small seaside town in North San Diego County, and is one of our more expensive communities. Del Mar holds the record for the highest price property sold publicly in the MLS in San Diego County (around $48,000,000 in 2007). This oceanfront home in the Del Mar Beach Colony was listed again in 2019, selling for $43M in December 2020!
Up-to-date information on the local Del Mar housing market conditions helps buyers and sellers make informed 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).
READ MORE:
Del Mar – Affluent Seaside Town (A Community Profile)
23 homes sold in Del Mar in December, 2 more sales than last month. Here's a summary of the activity:
Single Family Homes Sold
14 (down by 2); 28 Average Days on Market; Average Sales Price $4,635,111 (up by 25%); Average sale was 98% of original asking price
Condos, Townhomes and Duplexes Sold
9 (up by 4); 14 Average Days on Market; Average Sales Price was $1,364,506 (up 29%); Average sale was 103% of original asking price.
Overall sales for December slightly higher than last month, with fewer single family detached homes sales but more sales for condos, townhomes and duplexes. The average sales price was substantially higher for single family homes compared to last month (no doubt due to the sale of 4 homes over $6M each that raised the average), and was also higher for condo, townhome and duplex sales. Sales prices ranged from $675,000 to $10,500,000.
Average marketing time increased for single family homes, and also for condos, townhomes and duplexes.
The median price for single family detached homes at $3,410,000 was 5% higher than last month. The median price for condos, townhomes and duplexes was also higher, at $1,320,007, up 44% from November.
A number of buyers were able to negotiate money off the original list price on their home purchases. At the same time, however, 57% ended up paying the asking price or more.
In December there were no Del Mar homes on the market with an Active under Contract status, compared to 1 last month.
The number of new listings in December declined again from last month’s 13 to 9, no doubt in part due to the holidays. There were only 7 homes that went pending (excluding homes that sold in December), compared to 22 last month.
The inventory dropped again from last month with 18 homes for sale, down by 3 – not a surprise for this time of year. At the rate of sales over the last 3 months, this represents an inventory of 29 days for single family homes (the same as last month); as of this writing there is only 1 condo for sale.
The Del Mar housing market remains a very strong seller’s market for buyers of single family homes, with a very limited inventory of condos, townhomes and duplexes at the end of December.
It’s important to note that, as with any statistic, 1 month of data does not establish a trend, so watching the housing market in Del Mar over time is important, especially as the market conditions continue to change. One cannot draw firm conclusions regarding pricing because of the extremes in sales prices of Del Mar properties, especially at higher price points, as well as the limited number of sales.
Please reach out to me 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, and/or provide the necessary market and equity information and market preparation guidance to help sell your Del Mar home.
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READ MORE:
What’s my Del Mar Home Worth? Del Mar Real Estate Market Report November 2021
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