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

 

Del Mar, a coastal community in North San Diego County, is one of the more expensive communities along the beach. The most expensive property sold publicly according to the MLS in San Diego County was in Del Mar (a little over $48,000,000 in 2007), that sold again for $43M in July 2020.

 

Up-to-date information on the Del Mar housing market is necessary so buyers and sellers are able to make educated buying and selling 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)

 

10 homes sold in Del Mar in July, 7 fewer than last month. Here's a summary of what happened:

Single Family Homes Sold
7 (down by 46%); 68 Average Days on Market; Average Sales Price $4,441,428 (up 62%); Average Sale Price was 103% of original asking price

Condos, Townhomes and Duplexes Sold
3 (down by 1); 9 Days on Market; Average Sales Price was $1,300,000 (down by 21%); the Average Sale Price was 98% of original asking price.

 

Overall sales for July dropped from last month, with fewer single family detached homes sales and 1 less condo and townhome sale. The average sales price was quite a bit higher for single family homes compared to last month (no doubt due to the sale of 1 home over $5M and 2 over $7M that raised the average significantly), but decreased for condos and townhomes. Sales prices ranged from $820,000 to $7,800,000.

 

Average marketing time was substantially longer for single family homes, no doubt due to 1 sale that took 349 days which raised the average (the average was 22 days without that outlier). Average time on the market was several days longer for condos, townhomes and duplexes, a little more than a week. In general, buyers should be ready to make quick decisions regarding their home searches – 40% of the homes went pending in 1 week or less.

Condos in Del Mar near the beach

The median price for single family detached homes at $3,300,000 was 43% higher than last month. The median sales price for the condo and townhome sales was $1,370,000 (down 24%).

 

Many buyers were able to negotiate the purchase price of their homes. At the same time, however, 30% paid more than the list price which is less than last month.

 

In July there were 2 Del Mar homes on the market with an Active under Contract status, compared to none last month.

 

The number of new listings in July was about the same, down 1 to 18. There were 11 homes that went pending (excluding homes that sold in July), the same as in June.

 

The inventory rose again from last month, by 17%, with 42 homes for sale. At the rate of sales over the last 3 months, this represents a supply of 2.4 months for single family homes (up from 2.2 months last month), and 3.9 months for condos, townhomes and duplexes (versus 1.5 months in June).

 

The Del Mar housing market continues to be a very strong seller’s market for single family homes, but eased a bit for condos, townhomes and duplexes.

 

It’s important to 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, in particular since market conditions continue to shift. One cannot 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 June 2022

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (8)

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I think the home values makes sense for right now. It’ll be interesting to see if they stay there

Aug 16, 2022 08:48 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. California is hot and the press says people are fleeing. Florida is hot and people are flocking in. Is it the weather? Who knows. The fact is flee or flock the markets are hot! Enjoy your day.

Aug 17, 2022 05:02 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Jeff,

Good report as always..lots of pertinent information on the real estate market in Del Mar. You are the agent to help both buyers and sellers!

Aug 17, 2022 05:33 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

3.3 million is a bit CRAZY. I think only time will tell what the future holds for values. 

Aug 17, 2022 05:45 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Time will tell Laura Cerrano  Del Mar has always been pretty popular but no question it's expensive overall, especially along the beaches.

Jeff

Aug 17, 2022 08:23 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Wayne Martin 

There are certainly plenty of transitions taking place right now around the country, with people moving as well as in the housing market.

Jeff

Aug 17, 2022 08:26 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thank you Dorie Dillard Austin TX  I appreciate the kind words!

Hi Jeffrey DiMuria 321.223.6253 Waves Realty  There are several communities that rival Del Mar prices here in the San Diego area. Thank you for stopping by!

Jeff

Aug 17, 2022 08:27 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Aug 17, 2022 05:14 PM