Del Mar is a small coastal town in North Diego County, just south of Solana Beach and north of La Jolla. Is has a reputation for being one of the most expensive towns in the county. Indeed, two of the most expensive homes for sale in the county are in Del Mar, and it still holds the record for the most expensive property sold (at about $48,000,000).
READ MORE: Del Mar - Affluent Seaside Town (A Community Profile)
Having up to date statistics on the local Del Mar real estate market is important so buyers and sellers can make informed decisions. Here are the statistics obtained from the MLS for Del Mar for May 2009 (the data are believed accurate but are not guaranteed, and do not include any private sales).
There were 19 homes sold in May 2009 in Del Mar (15 detached and 4 attached), more than double the number sold in April, mostly detached homes. Here's a summary of the activity:
|
|
Total |
Detached |
Attached |
|
# Sold
|
19 |
15 |
4 |
|
Average Price
|
$2,372,036 |
$2,835,546 |
$633,875 |
|
Days on Market
|
81 |
99 |
13 |
|
Sale Price/List Price Ratio
|
94% |
92% |
99% |
The number of homes sold increased substantially from the prior month, several homes selling at significant prices (1 at $14 million, 1 at around $9 million, with several others over $3 million) which contributed to a large increase in average selling price. Detached homes sold ranged in price from $765,000 to $14 million. Attached homes are another matter - while the average sales price more than doubled from April, it is due to the sale of 1 attached home at $1.645 million - the other 3 homes sold for under $500K (average = $300,166).
Of the Del Mar home sales in May, 3 of the 4 attached homes were REO (the low end homes), while 14 of the 15 detached home sales were regular sales.
36 Del Mar homes came on the market in May (26 detached and 10 attached), 18% fewer than in April.
NOTE: There is a new status that is important for buyers to know about. The MLS now tracks those properties that are CONTINGENT, i.e., ones that have accepted offers that are waiting short sale approval, or where offers are submitted to the ROE banks and awaiting approval. In the past these were lumped together in the ACTIVE category, becoming pending only once the offers were officially accepted by the banks. They are still considered active and will be included with the ACTIVE properties when tracking stats from month to month, but they do have a different status that impacts buyers who may want to submit offers (the offers would be considered back-ups).
There were 188 Del Mar homes (including the 5 with Contingent status) for sale at the end of May 2009, a 5% drop from the prior month. At the current rate of sales over a 6-month period, this represents an inventory of 19.5 months for detached homes (a decline from 26.5 months as of last month), and 16 months for attached properties, a small decrease from April 2009.
17 homes went pending in May (13 detached and 4 attached), 1 more than last month.
As with any statistics, 1 month of numbers do not make a trend, so it is important to see what is happening over a period of time. At the moment, inventory is trending up, but sales volume is about the same that it has been since the beginning or the year. If you would like more information on the Del Mar real estate market, please let me know.
READ MORE:
Del Mar Real Estate - Del Mar Market Report for April 2009
Del Mar Real Estate - Del Mar Market Report for March 2009 and Quarterly Overview
Oceanfront Property in Coastal North San Diego County - Del Mar
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If I can provide more information about Del Mar, Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2009 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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Jeff, WOW double the April figures, that is a step in the right direction no matter what the reason is for it.
Jeff - I thoroughly enjoy reading the comprehensive market reports you put together. What's the difference between a detached home and an attached home in your market? If I had to guess I'd think it was condos versus single family homes. Those are not terms that we hear or use here on the East Coast.