What’s the Value of My Del Mar Home?
Del Mar Home Sales for April 2022
Del Mar is a small coastal town in North San Diego County, and one of the more expensive communities along the beach. The most expensive property sold publicly in the MLS in San Diego County was in Del Mar (around $48,000,000 in 2007), which sold again, for $43M, in April 2020.
Up to date information on Del Mar housing market conditions is important so buyers and sellers can 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 compiled, but are not guaranteed, and do not include private/non-MLS sales).
15 homes sold in Del Mar in April, down 25% from the 20 sales last month. Here's a summary of the activity:
Single Family Homes Sold
8 (down by 6); 10 Average Days on Market; Average Sales Price $4,109,875 (down 19%); Average Sale Price was 97% of original asking price
Condos, Townhomes and Duplexes Sold
7 (up by 1); 4 Days on Market; Average Sales Price was $1,424,285 (down 10%); the Average Sale Price was 107% of original asking price.
Overall sales for April dropped significantly from last month, with fewer single family detached homes sales but 1 more condo and townhome sale. The average sales price was lower for single family homes compared to last month, as well as for condos and townhomes. Sales prices ranged from $570,000 to $8,700,000.
Average marketing time was significantly shorter for single family homes, as well as for condos, townhomes and duplexes. Buyers should be prepared to make decisions quickly - 73% of the homes sold in 1 week or less.
The median price for single family detached homes at $3,125,000 was 20% lower than last month. The median sales price for the condo and townhome sales was $1,500,000 (up by 1%).
Some buyers negotiated the original list price of their home purchases. However, 8 (53%) ended up paying more than asking price.
In April there was 1 Del Mar home on the market with an Active under Contract status, the same as last month.
The number of new listings in April dropped from 17 last month to 12. There were 11 homes that went pending (excluding homes that sold in April), compared to 12 last month.
The inventory was modestly higher than last month with 25 homes for sale. At the rate of sales over the last 3 months, this represents an inventory of 2 months for single family homes (up from 1.4 months last month), and only 11 days for condos, townhomes and duplexes (there are only 2 listings as of this writing).
The Del Mar housing market continues to be a very strong seller’s market for single family homes, and particularly so for condos, townhomes and duplexes.
Remember that with any statistic 1 month does not establish a trend. A better picture will come from watching the Del Mar housing market over time, especially since market conditions continue to shift. One cannot draw firm conclusions regarding pricing because of the extremes in sales prices of Del Mar properties, especially the higher price points, as well as a fairly limited number of sales.
Please reach out to me at (760) 830-1360 with any questions. I’m happy to discuss your personal 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.