Del Mar is a small coastal town in North Diego County, just south of Solana Beach and north of La Jolla. It has a reputation for being one of the most expensive towns in the county. Indeed, two of the most expensive homes for sale in San Diego County are in Del Mar, and the town 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 about buying and selling property. Here are the statistics obtained from the MLS for Del Mar for June 2009 (the data are believed accurate but are not guaranteed, and do not include private sales).
15 homes sold in the Del Mar real estate market in June 2009 (11 detached and 4 attached), a decline of 21% from May sales. Here's a summary of the activity:
|
|
Total |
Detached |
Attached |
|
# Sold
|
15 (down 21%) |
11 |
4 |
|
Average Price
|
$1,536,200 (down 35%) |
$1,961,727 (down 31%) |
$343,500 (down 46%) |
|
Days on Market
|
88 |
101 |
51 |
|
Sale Price/List Price Ratio
|
94% |
94% |
94% |
The number of homes sold decreased from the prior month, with fewer homes selling at significant prices (1 at $9 million) and 3 of the 4 attached homes selling for under $225,000, which contributed to a large decrease in average selling price, especially for the attached homes.
Of the Del Mar home sales in June, 3 of the 4 attached homes were REOs (the low end homes), while all of the detached home sales were regular sales.
There were 6 Del Mar homes on the market at the end of June with a Contingent status (i.e., homes with offers being reviewed by short sale and REO lenders). These are included in the overall Active statistics below.
37 Del Mar homes came on the market in June (19 detached and 18 attached), just 1 more than in May.
There were 205 Del Mar homes (including the 6 with Contingent status) for sale at the end of June 2009, a 9% increase over the inventory from May. At the current rate of sales over a 6-month period, this represents an inventory of 16.5 months for detached homes (a decline from 19.5 months as of last month), and 20.7 months for attached properties, a significant increase over the 16 months from May 2009.
13 homes went pending in June (11 detached and \2 attached), 24% fewer 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. One should not draw any firm conclusions regarding pricing because of the extremes in the Del Mar market - detached homes selling in excess of $9 million and condos selling for under $200K. The overall absorption of 16 or more months is fairly consistent with other affluent towns where the average home price exceeds $1 million.
READ MORE:
Del Mar Real Estate - Del Mar Market Report for May 2009
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 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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What a real estate world you live in. Prices are still hard to imangine our average is under $100,000. Enjoy your market.
Hi Jeff, Nice report. Is that your new summer look? :-) Well for sure, I am not drawing any conclusions. In fact when someone asks, I just say I don't know. And the truth is, I really don't. Where is Altos when you need it and can't afford it, LOL.
Down 21%? Bummer. Is it common for this time of year to be slow in your area?
Hey Jeff,
You always do such a great job in your communities! Clicked on your link...it took me elsewhere, good idea to check it out.
Jeff,
I love your addition of some enticing photos along with the drier stats. Am hoping you haven't copyrighted the idea!