What’s the Value of My Del Mar Home?
Del Mar Home Sales in February 2024
Del Mar is a small coastal town in North San Diego County, and one of the more expensive seaside communities. The most expensive San Diego County property sold publicly was in Del Mar (about $48,000,000 in 2007) per the MLS. That oceanfront property sold again for $43M in February 2020.
Having current information on the local housing market conditions in Del Mar is important so buyers and sellers can make educated decisions about Del Mar homes for sale. The data are taken 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)
11 homes sold in Del Mar in February, 4 more than last month. Here's a summary of the activity:
Single Family Homes Sold
8 (up by 2); 23 Average Days on Market; The Average Sales Price was $2,946,750 (down 41%); Average Sale Price was 101% of original asking price.
Condos, Townhomes and Duplexes Sold
3 (up by 2); 18 Days on Market; the Average Sales Price was $1,235,000; the Average Sales Price was 98% of the original asking price.
Overall sales for February increased from last month but the volume remained small. There were 2 more single family detached home sales, as well as 2 more condo, townhome and duplex sales. The average sales price was lower for single family homes than last month, no doubt due in part to the sale of one home in January at $18,500,000 that raised the average. Sales prices ranged from $910,000 to $4,850,000. There were 2 cash buyers.
Average marketing time was shorter for single family homes than last month. 2 of the single family homes and 2 condos went pending in 6 days or less.
The median price for single family detached homes at $2,399,500 was 3% lower than last month. The median sales price for the condo, townhome and duplex sales was $1,225,000 (only 1 condo sold last month so there is no median for comparison).
5 of the 11 buyers negotiated the purchase prices of their homes, while 6 paid asking price or higher.
There were 2 Del Mar homes on the market in February with an Active under Contract status, compared to none last month.
There were 19 new listings in February, compared to 25 last month. 9 homes went pending (excluding homes that sold in February), compared to 11 last month. February home prices ranged from $650,000 to $21,950,000.
The inventory improved modestly from 34 last month to 36. At the rate of sales over the last 3 months, this represents a supply of 5.3 months for single family homes (up from 4.2 months as last month), and 3.6 months for condos, townhomes and duplexes (down from 9 months last month).
The Del Mar housing market continues to be a seller’s market for single family homes, and is a again a strong seller’s market for condos, townhomes and duplexes with 6 available listings.
Keep in mind that with any statistic 1 month of data does not establish a trend. A more accurate picture will emerge when you watch the Del Mar real estate market over time, in particular since market conditions shift each month. One cannot draw firm conclusions regarding pricing because of sales price extremes of Del Mar properties, especially at the higher price points, and the limited number of sales.
Please reach out to me at (760) 840-1360 with your questions. I’m happy to discuss your particular housing needs, lifestyle, timing and budget. With that information we’ll create a strategy 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 goal.
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READ MORE:
What’s my Del Mar Home Worth? Del Mar Real Estate Market Report January 2024
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