Market Data for NOV. and DEC. 2006 - Del Mar, CA

Here are the summary statistics from the MLS for Del Mar for November and December 2006.

Like other North County San Diego communities, Del Mar's housing inventory dropped during the month of December, down 24% from November (the holiday season was a likely contributor). The town, due to its small size, gorgoeus ocean views from many properties, and a charming downtown area, has tended to be one of the most expensive coastal towns for some time. Prices have escalated substantially and rival La Jolla (to the south) - up 15% in the last 2 years (a period of much correction) and a whopping 102% in the last 5 years.

If you have visited the area you probably understand why - the town is hilly and offers many homeowners a change for dramatic ocean views and sunsets...at a hefty price. While some homes are quite large, many are not, adn the town has restrictions in place to minimize how much larger homes can be made during remodeling, based on the lot size. Lot sizes tend to be small due to the topography and how the town has developed over the years.

Homes directly on the water range from about $6 million to over $22 million; there is currently a new home with multiple outbuildings and substantial beach frontage that is on the market for $50 million (no takers yet, and it's been 18 months). It is easy to spend $1.5 - $2 million for a smallish fixer beach cottage some distance from the water but with views.

Don't hesitate to ask if I can answer any questions or provide additional information. If you are planning to relocate there is lots of information on my Relocation A to Z blog. Are you a first time buyer? Read more here.