What’s the Value of My Del Mar Home?
Del Mar Home Sales for October 2024
Del Mar is a seaside community in North San Diego County and one of the more expensive beach towns. 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 was sold again in June 2020 for $43M.
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 information is from the MLS (the data are believed accurate at the time this report was written, 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 October, compared to 22 sales in September. Here's a summary of the housing activity:
Single Family Homes Sold
8 (down 50%); 36 Average Days on Market; The Average Sales Price was $3,916,875 (down 21%); Average Sale Price was 95% of original asking price.
Condos, Townhomes and Duplexes Sold
4 (down by 2); 11 Average Days on Market; the Average Sales Price was $1,639,750 (down 26%); the Average Sales Price was 97% of the original asking price.
Overall sales for October dropped dramatically from last month. There were 8 fewer single family detached home sales, and 2 fewer condo, townhome and duplex sales. The average sales price was significantly lower for single family homes than last month, no doubt due in part to the sale last month of 6 homes over $4M including 1 at $14.995M and 1 at $15.5M, which raised the September average. The average sales price was also lower for condo, townhome and condo sales. Sales prices for October ranged from $735,000 to $5,200,000.
Average marketing time was almost 2 weeks shorter for single family homes than last month, but was substantially longer for condos, townhomes and duplexes. 2 of the single family homes went pending in 2 and 6 days respectively.
The median price for single family detached homes at $4,142,500 was 23% higher than last month. The median sales price for the condo, townhome and duplex sales decreased by 22% to $1,812,500.
While most of the buyers negotiated the purchase prices of their homes, 4 (33%) paid asking price or higher.
There was 1 Del Mar home on the market in October with an Active under Contract status, the same as last month.
There were 13 new listings in October, versus 15 last month. 5 homes went pending (excluding homes that sold in October), compared to 10 last month. Home prices ranged from $915,000 to $24,995,000.
The inventory dropped from 39 listings last month to 35. At the rate of sales over the last 3 months this represents a supply of 2.6 months for single family homes (up from 2.1 months last month), but only 24 days for condos, townhomes and duplexes (down from 2.1 months last month).
The Del Mar housing market remains a strong seller’s market for single family homes, and is a very strong seller’s market for condos, townhomes and duplexes with only 4 listings available.
Keep in mind that with any statistic 1 month of data does not establish a trend. A more accurate picture results when you watch the Del Mar real estate market over time, especially since market conditions vary monthly. One cannot 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 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 September 2024
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