Del Mar Homes for Sale – Del Mar Market Report for July 2011
Del Mar is a small coastal town in North San Diego County and one of the most expensive towns in the county. Indeed, the Del Mar real estate market currently has the most expensive home for sale in San Diego County (at $61M), 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 for buyers and sellers to make informed decisions about buying and selling Del Mar homes. Here are the statistics obtained from the MLS for Del Mar for July 2011 (the data are believed accurate but are not guaranteed, and do not include private sales).
20 homes sold in the Del Mar real estate market in July, the same as in June. Here's a summary of the activity:
|
|
Total |
Detached |
Attached |
|
# Sold |
20 (no change) |
15 (down 12%) |
5 (up 67%) |
|
Average Price |
$1,670,022 (up 34%) |
$2,056,013 (up 49 %) |
$512,050 (up 9%) |
|
Days on Market |
91 |
103 |
27 |
|
Sale Price/List Price Ratio |
94% |
93% |
98% |
Overall sales volume did not change but decline slightly for detached homes and rose for attached, in particular for detached homes. Average sales prices rose fairly significantly especially for detached homes.
There were 4 Del Mar homes on the market at the end of July 2011 with a Contingent status (i.e., homes with offers being reviewed by short sale and REO lenders, 2% of the total number of homes for sale). These are included in the overall Active statistics below.
23 homes entered the Del Mar real estate market in July, about 41% fewer than in June, another decline.
There were 175 Del Mar homes for sale at the end of July, down by 9% from June’s inventory. At the current rate of sales over a 6-month period, this represents an inventory of 9.2 months for detached homes (down from 11.5 last month), and 7.6 months for attached properties, down from 7.4 months at the end of June.
19 Del Mar homes went pending in July, 72% more than the number going pending in June (11).
READ MORE: How Important is Inventory when Buying or Selling? Very!!
As with any statistic, 1 month of numbers is not a trend, so it is important to watch what is and has been 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, as well as the fairly small number of sales.
SEARCH FOR DEL MAR HOMES FOR SALE
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READ MORE:
Del Mar Homes for Sale | Del Mar Real Estate Market Report for June 2011
Del Mar Homes for Sale | Del Mar Real Estate Market Report for May 2011
Del Mar Homes for Sale | Del Mar Real Estate Market Report for April 2011
Del Mar Homes for Sale | Del Mar Real Estate Market Report for March 2011
Del Mar Homes for Sale | Del Mar Real Estate Market Report for February 2011
Del Mar Homes for Sale | Del Mar Real Estate Market Report for January 2011
Del Mar Homes for Sale | Del Mar Real Estate Market Report for December 2010
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Nice report.
Great looking homes.
Good luck with these props.
Good Morning Jeff, The statistics are always enlightening to track. I received my Altos monthly report and it seems to be tending positive based on market mix at least more than others I have been seeing. Hopefully with the slower market that everyone seems to be reporting that the numbers can hold up.
☂ Jeff, I can't even imagine a home selling for $48 million. Wowsy! But then again look at those average prices... Amazes me that the market for high end homes is as strong as it is in your area. Our higher end properties here in the Raleigh/Cary area (albeit not nearly near the prices in Del Mar) haven't done as well. It's actually a phenomenal time to purchase around the million dollar mark - there's some fantastic deals here! Thanks for sharing your stats with us.
Pamela
Jeff - The overall numbers in Del Mar seem to be great.
Jeff
Nice market report on Del mar and nice comminity profile as well.