What’s the Value of My Del Mar Home?
Del Mar Home Sales for March 2024
Del 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.
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.
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READ MORE:
What’s my Del Mar Home Worth? Del Mar Market Report for February 2024
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