Del Mar Real Estate & Homes for Sale

Welcome to your guide on Del Mar real estate. As you consider investing in this beautiful coastal town, it's important to understand the nuances of its housing market. Our aim is to provide you with a professional, yet accessible overview of the current real estate trends in Del Mar, empowering you with knowledge for your property journey.

Current Market Overview

Del Mar's housing market as of October 2023 reveals several key trends:

• Median Sale Price: The median sale price for homes in Del Mar has risen to $2.7 million, a significant increase of 20.0% from last year.
• Sale Duration: Homes are now taking longer to sell, averaging 90 days on the market compared to 32 days last year.
• Market Activity: The number of homes sold in October 2023 was 7, slightly higher than the 6 sold in the same period last year.
• Price Per Square Foot: The median sale price per square foot in Del Mar has seen a dramatic increase, now at $1.51K, up 55.5% since last year.

Market Dynamics

• Competitiveness: Del Mar's market is moderately competitive, with homes generally selling in about 24 days.
• Offer Patterns: While some homes receive multiple offers, on average, properties in Del Mar sell for around 4% below the listing price.
• Demand for Desirable Homes: Highly sought-after properties, or 'hot' homes, can sell for approximately their listing price and may go pending in as little as 7 days.

Migration and Relocation Trends

• Local vs. External Migration: Between August and October 2023, 29% of Del Mar homebuyers were looking to move out of the area, while 71% preferred to stay within the metropolitan region.
• Inbound Interest: Nationally, 2% of homebuyers have shown interest in moving to Del Mar, especially from Los Angeles, San Francisco, and Washington.
• Outbound Preferences: Of those relocating from Del Mar, a substantial 71% are looking to remain within the Del Mar metropolitan area, with Las Vegas, Nashville, and Portland as favored destinations.

Begin Your Del Mar Real Estate Adventure

Del Mar offers a unique blend of coastal charm and real estate opportunities. If you're thinking of buying a home here, having expert guidance is invaluable. We, Lisa Schoelen and Julie Pierce, are dedicated to assisting you through the intricacies of the Del Mar real estate market. Contact us for tailored advice, and let's explore the possibilities together in finding your ideal home in Del Mar.