Del Mar is a small coastal town in North Diego County with a reputation for being one of the most expensive towns in the county. Indeed, the Del Mar real estate market currently has two of the most expensive homes for sale in San Diego County (at $76M and $50M), and 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 information on the local Del Mar real estate market is important to make informed decisions about buying and selling property. Here are the statistics obtained from the MLS for Del Mar for September 2009 (the data are believed accurate but are not guaranteed, and do not include private sales).
23 homes sold in the Del Mar real estate market in September, almost double the number of sales in August which had increased by 44% over July, encouraging news for a high-end community especially in terms of detached home sales. Here's a summary of the activity:
|
|
Total |
Detached |
Attached |
|
# Sold
|
23 (up 77%) |
16 (up 100%) |
7 |
|
Average Price
|
$1,425,873 (up 8%) |
$1,746,921 (up 8%) |
$692,050 (down 19%) |
|
Days on Market
|
103 |
113 |
82 |
|
Sale Price/List Price Ratio
|
92% |
92% |
93% |
Sales volume increased over the prior month with an upward shift in the average price of a detached home, but a decline (due to lower end sales) for attached homes. Of the Del Mar home sales in September, 2 of the detached homes were short sales, and 1 attached home was bank-owned.
There were 7 Del Mar homes on the market at the end of September 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.
35 homes entered the Del Mar real estate market in September 2009, 5 more than in August.
There were 182 Del Mar homes for sale at the end of September 2009, with no change in inventory from August. At the current rate of sales over a 6-month period, this represents an inventory of 12.6 months for detached homes (down from 14.2 in August which had declined from July), and 9.9 months for attached properties, another decease (from 14.2 months in August which had dropped 5 months from July 2009).
23 Del Mar homes went pending in September (19 of them detached), 2 more than in August.
As with any statistic, 1 month of numbers are not a trend, so it is important to watch 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 real estate market, however there are some encouraging numbers regarding the inventory with more sales, along with improved affordability for attached homes.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
Del Mar Real Estate Market Report for August 2009
Del Mar Real Estate Market Report for July 2009
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If I can provide more information about Del Mar real estate, or about real estate in surrounding areas, 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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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
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Although the price points do not match your area, the buyer profile probably does...I'm in a secondary home/discretionary marketplace, often referred to as Carmel of the North. Found your stats to be very interesting.
I used to work in Del Mar, beautiful area. Very interesting stats.
Interesting statistics. My late aunt and uncle lived in Del Mar. I remember whale watching out their livig room window. Beautiful area.
Jeff encouraging news indeed this is a huge increase in sales. I know a lot of people are crying about the market, but I am having one of my best years ever.