What’s the Value of My Del Mar Home?
Del Mar Home Sales for July 2024
Del Mar is a beach town in North San Diego County and is one of the more expensive coastal communities. The priciest San Diego County property sold publicly was in Del Mar (about $48,000,000 in 2007) according to the MLS. That oceanfront property was sold again in June 2020 for $43M.
Having up-to-date information on the local housing market conditions in Del Mar is important 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).
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Del Mar – Affluent Seaside Town (A Community Profile)
16 homes sold in Del Mar in July, the same as in June. Here's a summary of the housing activity:
Single Family Homes Sold
13 (up by 2); 24 Average Days on Market; The Average Sales Price was $4,450,057 (up 8%); Average Sale Price was 97% of original asking price.
Condos, Townhomes and Duplexes Sold
3 (down by 2); 14 Average Days on Market; the Average Sales Price was $2,450,000 (up 110%); the Average Sales Price was 96% of the original asking price.
Overall sales for July did not shift from last month and the volume remained small. There were 2 more single family detached home sales, and 2 fewer condo, townhome and duplex sales. The average sales price was higher for single family homes than last month. The average price rose substantially for condo, townhome and condo sales – 1 of the 3 sales was $3,990,000 which raised the July average). Sales prices for July ranged from $714,000 to $9,500,000.
Average marketing time was shorter for single family homes than last month. The marketing time for condos, townhomes and duplexes rose substantially in July; 1 condo took 259 days to sell which raised the average. 3 of the 16 sales were pending in 7 days or less.
The median price for single family detached homes at $3,500,000 was 9% lower than last month. The median sales price for the condo, townhome and duplex sales rose 92% to $1,800,000.
While most of the buyers negotiated the purchase prices of their homes, 6 paid asking price or more.
There were no Del Mar homes on the market in July with an Active under Contract status, compared to 1 for last month.
There were 19 new listings in July, versus 29 last month. 10 homes went pending (excluding homes that sold in July), the same as last month. Home prices ranged from $939,000 to $21,950,000.
The inventory dropped by 3 from last month, with 50 listings. At the rate of sales over the last 3 months this represents a supply of 3.2 months for single family homes (down from 4.1 months last month), and 2.3 months for condos, townhomes and duplexes (up from 1.4 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.
Keep in mind that with any statistic 1 month of data does not establish a trend. A more accurate picture will result when you watch the Del Mar real estate market over time, especially since market conditions vary each month. One should not draw firm conclusions regarding pricing because of sales price extremes of Del Mar properties, especially at the higher price points, in addition to the limited number of sales.
Please reach out to me directly or via text at (760) 840-1360 with your questions. I’m happy to discuss your personal 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 June 2024
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