What’s the Value of My Del Mar Home?
Del Mar Home Sales for September 2022
Del Mar is a coastal community in North San Diego County. It’s also one of the more expensive beach-side communities.
The most expensive property sold publicly in San Diego County, according to the MLS, was in Del Mar (about $48,000,000 in 2007), sold again for $43M in September 2020.
Current information on the Del Mar housing market is essential so buyers and sellers can make informed 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).
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Del Mar – Affluent Seaside Town (A Community Profile)
Only 8 homes sold in Del Mar in September, down significantly from 18 sales last month. Here's a summary of what happened:
Single Family Homes Sold
6 (down by 4); 24 Average Days on Market; Average Sales Price was $3,370,416 (down 19%); Average Sale Price was 96% of original asking price.
Condos, Townhomes and Duplexes Sold
2 (down by 6); 53 Average Days on Market; Average Sales Price was $808,750 (down by 32%); the Average Sale Price was 92% of original asking price.
Overall sales for September decreased from last month, with fewer single family detached homes sales, and fewer condo, townhome and duplex sales. The average sales price was lower for single family homes compared to last month, and also decreased for condos and townhomes. Sales prices ranged from $570,000 to $4,595,000.
Average marketing time was longer for single family homes, as it also was for condos, townhomes and duplexes. Buyers should still be prepared to make quick decisions regarding their home searches, given that 38% of the homes were pending in 1 week or less, about the same as last month.
The median price for single family detached homes at $2,977,500 was 20% lower than last month.
6 of the 8 buyers negotiated the purchase prices of their homes. However, 1 paid asking price, and 1 paid more than the list price.
In September there were no Del Mar homes on the market with an Active under Contract status, compared to 1 last month.
There were 12 new listings in September, compared to 20 in August. Only 3 homes went pending (excluding homes that sold in September), compared to 6 in last month.
The inventory decreased by 6 from last month, with 33 homes for sale, another decline. At the rate of sales over the last 3 months, this represents a supply of 3.4 months for single family homes (up from 3.3 months last month), and 1.4 months for condos, townhomes and duplexes (versus 1.2 months in August).
The Del Mar housing market continues to be a strong seller’s market for single family homes, and is a very strong seller’s market for buyers of condos, townhomes and duplexes.
It’s important to remember that with any statistic 1 month of data does not establish a trend. A better picture will come from watching the Del Mar real estate 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.
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What’s my Del Mar Home Worth? Del Mar Real Estate Market Report August 2022
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