What’s the Value of My Del Mar Home?
Del Mar Home Sales in March 2023
Del Mar is a small coastal town in North San Diego County, and one of the more expensive beach communities.
According to the MLS the most expensive property sold publicly in San Diego County was in Del Mar (about $48,000,000 in 2007). This oceanfront estate sold again in March 2020 for $43M.
Having current information on the local housing market conditions in Del Mar is essential 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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Del Mar – Affluent Seaside Town (A Community Profile)
16 homes sold in Del Mar in March, 4 more than last month, and another increase. Here's a summary of activity:
Single Family Homes Sold
12 (up by 2); 19 Average Days on Market; Average Sales Price was $3,132,500 (down 13%); Average Sale Price was 95% of original asking price.
Condos, Townhomes and Duplexes Sold
4 (up by 2); 3 Average Days on Market; Average Sales Price was $1,612,500 (down 7%); the Average Sales Price was 101% of original asking price.
Overall sales for March increased from last month, with 2 more single family detached home sales, and 2 more condo, townhome and duplex sales. The average sales price was lower for single family homes versus last month, and lower for condo, townhome and duplex sales. Sales prices ranged from $620,000 to $7,600,000.
Average marketing time was shorter for single family homes. All 4 condo and townhome sales took 6 days or less to go pending. It’s still a good idea to be prepared to make quick decisions regarding your home search.
The median price for single family detached homes at $2,375,000 was 3% lower than last month.
While 9 of the 16 buyers negotiated the purchase prices of their homes, 7 (44%) paid asking price or higher.
There were no Del Mar homes on the market in March with an Active under Contract status, the same as the last 4 months.
There were 23 new listings in March, compared to 9 in February. 12 homes went pending (excluding homes that sold in March), compared to 13 last month.
The inventory increased to 29 from 19 last month. At the rate of sales over the last 3 months, this represents a supply of 2.8 months for single family homes (up from 2.5 months last month), and 1.3 months for condos, townhomes and duplexes (versus 1.5 months in February)
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The Del Mar housing market continues to be a very strong seller’s market for single family homes, and for condo, townhome and duplex buyers.
Remember that with any statistic 1 month of data does not establish a trend. A better picture emerges when watching the Del Mar real estate market over time, especially since market conditions 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.
SEARCH FOR DEL MAR HOMES FOR SALE
READ MORE:
What’s my Del Mar Home Worth? Del Mar Real Estate Market Report February 2023
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