What’s the Value of My Del Mar Home?
Del Mar Home Sales for January 2022
Del Mar is a small coastal town in North San Diego County, and one of the 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 estate in the Del Mar Beach Colony was sold again for $43M in January 2020.
Current information on the local Del Mar market conditions is important so buyers and sellers can 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).
READ MORE:
Del Mar – Affluent Seaside Town (A Community Profile)
9 homes sold in Del Mar in January, a dramatic drop from the 23 sales last month. Here's a summary of the activity:
Single Family Homes Sold
8 (down by 6); 15 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
1 (down by 8); 14 Days on Market; Sales Price was $1,610,000; this sale was 111% of original asking price.
Overall sales for January declined significantly from last month, with fewer single family detached homes sales and only 1 townhome sale. The average sales price was substantially higher for single family homes compared to last month (no doubt due to the sale of 4 of the 8 homes over $3M each that raised the average). Sales prices ranged from $675,000 to $10,500,000.
Average marketing time decreased for single family homes; the townhome sold in 14 days – last month’s average.
The median price for single family detached homes at $3,410,000 was 8% lower than last month.
Some of the buyers were able to negotiate money off the original list price on their home purchases. However, 4 ended up paying full price or more.
In January there was 1 Del Mar home on the market with an Active under Contract status, compared to none last month.
The number of new listings in January rose from last month’s 9 to 17, some good news for buyers. There were 12 homes that went pending (excluding homes that sold in January), compared to 7 last month.
The inventory rose slightly from last month with 19 homes for sale, up by 1. At the rate of sales over the last 3 months, this represents an inventory of 1.2 months for single family homes (up from 29 days last month), and 24 days for condos, townhomes and duplexes.
The Del Mar housing market remains a very strong seller’s market for buyers of single family homes, as well as for condos, townhomes and duplexes.
It’s important to note that, as with any statistic, 1 month 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 via direct call or text 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 December 2021
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