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What’s My Del Mar Home Worth? Del Mar Market Report for March 2024

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 March 2024

 

Del Mar Beach Colony in Del Mar, CADel Mar is a small seaside town in North San Diego County, and one of the more expensive coastal communities. The most expensive San Diego County property sold publicly was in Del Mar (about $48,000,000 in 2007) according to the MLS. That oceanfront property sold again for $43M in March 2020.

 

Having up-to-date information on the local housing market conditions in Del Mar is essential in order for buyers and sellers to make informed 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)

 

12 homes sold in Del Mar in March, 1 more than last month. Here's a summary of the activity:

Single Family Homes Sold
8 (no change); 29 Average Days on Market; The Average Sales Price was $3,532,500 (up 20%); Average Sale Price was 96% of original asking price.

Condos, Townhomes and Duplexes Sold
4 (up by 1); 9 Days on Market; the Average Sales Price was $1,773,750 (up 44%); the Average Sales Price was 100% of the original asking price.

 

Overall sales for March increased slightly from last month and volume remained small. The number of single family detached home sales did not change, while there was 1 condo, townhome and duplex sale. The average sales price was higher for single family homes than last month, and also rose for condo, townhome and condo sales. Sales prices ranged from $1,610,000 to $6,550,000. There were 3 cash buyers (25%).

 

Average marketing time was longer for single family homes than last month but decreased for condos, townhomes and duplexes. 1 single family home and 3 condos went pending in 7 days or less.

 

The median price for single family detached homes at $2,925,000 was 21% higher than last month. The median sales price for the condo, townhome and duplex sales was $1,642,500, up 34%.

 

8 of the buyers were able to negotiate the purchase prices of their homes, while 4 paid asking price or more.

 

There was 1 Del Mar home on the market in March with an Active under Contract status, compared to 2 last month.

 

Del Mar house near the beach

 

There were 25 new listings in March, compared to 19 last month.11 homes went pending (excluding homes that sold in March), compared to 9 last month. March home prices ranged from $625,000 to $34,900,000.

 

The inventory improved nicely from 36 last month to 46. At the rate of sales over the last 3 months, this represents a supply of 5.2 months for single family homes (down slightly from 5.3 months last month), and 3 months for condos, townhomes and duplexes (down from 3.6 months last month).

 

The Del Mar housing market continues to be a seller’s market for single family homes, and is a strong seller’s market for condos, townhomes and duplexes with 8 available listings.

 

Keep in mind that with any statistic 1 month of data does not establish a trend. A more accurate picture emerges when you watch the Del Mar real estate market over time, especially since market conditions shift monthly. One cannot draw firm conclusions regarding pricing because of sales price extremes of Del Mar properties, especially at the higher price points, plus 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 important 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 Market Report for February 2024

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Jeff,
Your reports are always very informative. The prices still boggle my mind. I need to find a rich friend or win the lottery. 😊

Apr 14, 2024 11:56 AM
Jeff Dowler, CRS

Hi Carol Williams  Thank you for the compliment.

Yes, Del Mar prices are pretty substantial especially near the beaches.

Winning the lottery sounds good.

Jeff

Apr 14, 2024 12:53 PM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Jeff Dowler, CRS  Anyone looking in Del  Mar will certainly call you for more information  when looking to buy or sell a home 

Apr 14, 2024 12:27 PM
Jeff Dowler, CRS

Thank you for the encouragement Hannah Williams  I am here to help!

Enjoy the rest of your weekend!

Jeff

Apr 14, 2024 12:54 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good afternoon Jeff,

I can see from your report Del Mar prices are pretty substantial especially near the beaches. You are the one who knows the market and help both buyers and sellers with their real estate needs.

Apr 14, 2024 01:37 PM
Jeff Dowler, CRS

Thank you for the compliment, Dorie Dillard Austin TX 

Jeff

Apr 14, 2024 02:31 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. Del Mar is definitely a niche market for those with deep pockets. The savvy buyer should contact you to assist them navigating the buying process. Enjoy your day. 

Apr 15, 2024 04:27 AM
Jeff Dowler, CRS

Deep pockets are definitely a benefit for buyers Wayne Martin

I'm happy to help!

Jeff

Apr 15, 2024 09:58 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Del Mar would certainly be a nice place to call home and you do a great job of keeping up with what's going on in real estate there!

Apr 15, 2024 05:51 AM
Jeff Dowler, CRS

Thank you for the kind words Brian England 

Jeff

Apr 15, 2024 09:56 AM