What’s the Value of My Del Mar Home?
Del Mar Home Sales for August 2024
Del Mar is a coastal town in North San Diego County and is one of the more expensive beach 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 in June 2020 for $43M.
Having current information on the local housing market conditions in Del Mar is essential in order for buyers and sellers to 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)
17 homes sold in Del Mar in August, 1 more than in July. Here's a summary of the housing activity:
Single Family Homes Sold
12 (down by 1); 32 Average Days on Market; The Average Sales Price was $3,870,000 (down 13%); Average Sale Price was 96% of original asking price.
Condos, Townhomes and Duplexes Sold
5 (up by 2); 9 Average Days on Market; the Average Sales Price was $1,327,800 (down 46%); the Average Sales Price was 98% of the original asking price.
Overall sales for August shifted just slightly from last month and the volume remained small. There was 1 less single family detached home sale, but 2 more condo, townhome and duplex sales. The average sales price was lower for single family homes than last month, and dropped substantially for condo, townhome and condo sales. Sales prices for August ranged from $660,000 to $10,500,000.
Average marketing time was shorter for single family homes than last month, and was substantially shorter for condos, townhomes and duplexes. 6 of the 17 sales were pending in 5 days or less.
The median price for single family detached homes at $2,875,000 was 18% lower than last month. The median sales price for the condo, townhome and duplex sales declined by 22% to $1,395,000.
While most of the buyers negotiated the purchase prices of their homes, 5 paid asking price or higher.
There were 2 Del Mar homes on the market in August with an Active under Contract status, compared to none last month.
There were 24 new listings in August, versus 19 last month. 16 homes went pending (excluding homes that sold in August), compared to 10 last month. Home prices ranged from $899,000 to $24,995,000.
The inventory dropped by 3 from last month, with 47 listings. At the rate of sales over the last 3 months this represents a supply of 3.3 months for single family homes (up from 3.2 months last month), and 1.8 months for condos, townhomes and duplexes (down from 2.3 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.
Remember 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 by text at (760) 840-1360 with your questions. I’m happy to discuss your particular housing needs, lifestyle, timing and budget. With that information we can 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 July 2024
Comments(2)