What’s the Value of My Del Mar Home?
Del Mar Real Estate Market in December 2022
Del Mar is a small coastal town 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, per the MLS, was in Del Mar (about $48,000,000 in 2007). This oceanfront estate also sold for $43M in December 2020.
Having up-to-date information on the housing market in Del Mar is important as a buyer or seller in order to make informed buying and selling decisions about Del Mar homes for sale. The following statistics were derived 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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5 homes sold in Del Mar in December, down from 8 last month. Here's a summary of what happened:
Single Family Homes Sold
4 (down by 1); 64 Average Days on Market; Average Sales Price was $5,023,750 (up 53%); Average Sale Price was 85% of original asking price.
Condos, Townhomes and Duplexes Sold
1 (2 fewer); 8 Days on Market; Sales Price was $752,700; the Sales Price was 102% of original asking price.
Overall sales for December decreased from last month, with fewer single family detached homes sales, and fewer condo, townhome and duplex sales. The average sales price was substantially higher for single family homes compared to last month – all 4 single family sales were over $2.7M which raised the average. Sales prices ranged from $752,700 to $8,750,000.
Average marketing time was longer for single family homes, with 2 of the sales taking more than 100 days; the 1 condo sale took 8 days. It still doesn’t hurt to be prepared to make quick decisions regarding your home search.
The median price for single family detached homes at $4,297,500 was 49% higher than last month.
3 of the 5 buyers were able to negotiate the purchase prices of their homes. However, 1 paid asking price and 1 paid 102% of list price.
There were no Del Mar homes on the market in December with an Active under Contract status, the same as last month.
There were 10 new listings in December, compared to 8 in November. 4 homes went pending (excluding homes that sold in December), compared to 5 in last month.
The inventory decreased by 6 from last month, with 28 homes for sale. At the rate of sales over the last 3 months, this represents a supply of 4.1 months for single family homes (down from 4.6 months last month), and 2.5 months for condos, townhomes and duplexes (versus 2.1 months in November).
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 condo, townhome and duplex buyers.
Remember that with any statistic 1 month of data does not establish a trend. A better picture will emerge from watching the Del Mar real estate market over time, especially 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 your questions. I’m happy to discuss your personal housing needs, lifestyle, and budget. Then we can create a plan to buy your new Del Mar home. I can also provide the necessary market and equity information, and market preparation guidance, to help sell your Del Mar home if that is your plan.
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What’s my Del Mar Home Worth? Del Mar Real Estate Market Report November 2022
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