What Happened in the Del Mar Real Estate Market in December 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 December 2011 (the data are believed accurate but are not guaranteed, and do not include private sales).
13 homes sold in the Del Mar real estate market in December, 18% more than in November. Here's a summary of the activity:
|
|
Total |
Detached |
Attached |
|
# Sold |
13 (up 18%) |
11 (up 120%) |
2 (down 67%) |
|
Average Price |
$1,026,088 (down 25%) |
$1,135,286 (down 56%) |
$425,500 (up 24%) |
|
Days on Market |
94 |
95 |
84 |
|
Sale Price/List Price Ratio |
93% |
94% |
90% |
Overall sales volume shifted up (by 2 sales); while detached home sales rose dramatically, attached home sales dropped off substantially. Sale prices of detached homes declined substantially, but this was due to the fact that all sales were below $1.985, in contrast to all sales being over $1.75 last month. Buyers are able to negotiate, on average, up to 10% off list prices, especially for attached properties.
There were 3 Del Mar homes on the market at the end of December 2011 with a Contingent status (i.e., homes with offers being reviewed by short sale and REO lenders, 5% of the total number of homes for sale). These are included in the overall Active statistics below.
20 homes entered the Del Mar real estate market in December, down by 39% from November. 12 Del Mar homes went pending in December, a drop off by 5 (about 30%) from November pendings.
There were 133 Del Mar homes for sale at the end of December, a downward shift by 11% from November, the 4th month of inventory decline. At the current rate of sales over a 6-month period, this represents an inventory of 7.9 months for detached homes (down from 8.5 last month), and 8.2 months for attached properties, up from 8.1 months in November.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
As with any statistic, 1 month of numbers does not establish 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 – What Happened in the Del Mar Real Estate Market iin November 2011?
Del Mar Homes for Sale | Del Mar Real Estate Market Report for October 2011
Del Mar Homes for Sale | Del Mar Real Estate Market Report for September 2011
Del Mar Homes for Sale | Del Mar Real Estate Market Report for August 2011
Del Mar Homes for Sale | Del Mar Real Estate Market Report for July 2011
Del Mar Homes for Sale | Del Mar Real Estate Market Report for June 2011
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Hi Jeff, I just have a feeling that this year is going to be even better. With the average price of the homes in Del Mar, it feels very stable and I predict that it is going to be even better by the end of the year. And next year, we are all going to need help to handle the volume. I guess you can say I very encouraged.