What’s My Del Mar Home Worth? Del Mar Real Estate Market in May 2022

By
Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

What’s the Value of My Del Mar Home?

Del Mar Home Sales Report for May 2022

 

Del Mar Beach Colony in Del Mar CADel 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). This property sold again in May 2020 for $43M.

 

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). 

 

READ MORE:

 Del Mar – Affluent Seaside Town (A Community Profile)

 

20 homes sold in Del Mar in May, up 33% from the 15 sales last month. Here's a summary of the activity:

Single Family Homes Sold
17 (up 125%); 16 Average Days on Market; Average Sales Price $4,964,129 (up 21%); Average Sale Price was 100% of original asking price

Condos, Townhomes and Duplexes Sold
3 (down by 4); 8 Days on Market; Average Sales Price was $1,316,666 (down 4%); the Average Sale Price was 101% of original asking price.

 

Overall sales for May rose from last month, especially for single family detached homes sales; there were only 3 condo and townhome sales, a decline from April.

 

The average sales price was higher for single family homes compared to last month (in part due to the sale of 4 homes over $7M with 1 at $20M), but dropped for condos and townhomes. Sales prices ranged from $725,000 to $20,000,000.

 

Average marketing time was longer for single family homes, but shorter for condos, townhomes and duplexes. Buyers should be prepared to make quick decisions in their home searches – almost half (43%) of the homes went pending in 1 week or less.

 

The median price for single family detached homes at $3,200,000 was 2% higher than last month. The median sales price for the condo and townhome sales was $1,025,000 (down by 32%).

 

Some buyers were able to negotiate the original list price of their home purchases. At the same time, however, 9 (45%) ended up paying more than list price.

 

In May 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 May doubled, from 12 in April to 24 - good news for buyers. There were 13 homes that went pending (excluding homes that sold in May), compared to 11 last month.

 

The inventory was the same as last month with 25 homes for sale. At the rate of sales over the last 3 months, this represents an inventory of 1.7 months for single family homes (down from 2 months last month), and only 11 days for condos, townhomes and duplexes, the same as in April (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 should not draw firm conclusions regarding pricing because of sales price extremes of Del Mar properties, especially the higher price points, and the fairly 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.

 

Search for Del Mar Homes for Sale

 

READ MORE:

What’s my Del Mar Home Worth? Del Mar Real Estate Market Report April 2022

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (8)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Del Mar home buyers and sellers are sure to value your real estate market report, Jeff.

Jun 14, 2022 12:29 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great information.  Thanks for sharing and enjoy your week!

Jun 14, 2022 04:05 AM
Roy Kelley
Retired - Gaithersburg, MD

Prospective home sellers are in very good hands when they seek your professional real estate advice and assistance.

Jun 14, 2022 04:51 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Jeff,

As usual your Del Mar real estate market report contains such valuable information to buyers and sellers. Happy Flag Day!!

Jun 14, 2022 05:07 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. The facts continue to be juxtaposed to news reports. Keep the facts coming. Really enjoy your posts!

Jun 14, 2022 05:50 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jeff, $48 million, WOW, our top sale in Denver metro has been $25 million, and bought by Russell Wilson, our new quarterback.

Jun 14, 2022 06:20 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

If I wanted to know what a Del Mar home was worth, the only one I would be reaching out to would be you.

Jun 14, 2022 06:29 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thank you for the kind words Myrl Jeffcoat  I hope so!

Hi Bill Salvatore - East Valley Thank you, and have a great week yourself!

Thanks Roy Kelley 

Jeff

Jun 14, 2022 10:14 AM