Eighteen homes came to market during the month of July. Of those, 15 were detached, with an average price per square foot of $933. This number is on the high side due to a few higher-priced homes that sold, bringing the average price up significantly. Because of this, it’s best to focus more on the median price, which helps eliminate all of those outliers. This number provides a much more accurate representation of the market at $596 per square foot.
Three attached homes came to market in July with an average price of $619 and median price of $543 per square foot. Attached homes refer to homes that have shared walls such as condos and town homes. These are standard numbers leading to a firm market, which tends to be great for both buyers and sellers. If you’ve been considering buying or selling, Del Mar is an excellent location.
During July, 16 homes sold in Del Mar. Ten of those were detached with an average price of $754 and median price of $580 per square foot. Six attached homes sold for an average price of $644 and median price of $590 per square foot. Again, the median price is mentioned because it gives a more accurate number for the month of July.
These are all good, strong numbers for the month, but keep in mind that of the 16 homes sold, the average number of days on market was only 48. When taking closing time, inspection, and due diligence into account, this is a terrific number that should encourage sellers. This also means that homes are being put on the market at a fair market price.
The inventory number for Del Mar currently sits at 76, which is 4.5 months of inventory. For this area, it’s best at around 3 months of inventory to be benficial for both buyers and sellers. Del Mar is sitting a little high, but hopefully in the next few months you will see inventory begin to dwindle.
If you have strong interests in the Del Mar area, search for a Del Mar home with our property search tool.