The median list price in Del Mar, CA 92014 is $2,450,000.
Inventory is tightening and days-on-market is falling. The Market Action Index (MAI) shows demand heating up. These are relatively bullish signs for the Del Mar real estate market.
SUPPLY AND DEMAND
Inventory levels have been consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, the market is still seeing prices move higher. Given inventory levels, these price conditions are fragile. If the market cools off, the price trend will likely reverse. This probably won’t happen since we’re at the start of the selling season. The next few reports will be interesting.
REAL-TIME MARKET PROFILE
Median List Price $2,450,000
Asking Price per Square Foot $905
Average Days on Market 139
Percent of Properties with Price Decrease 33%
Median House Size 2,819 sq. ft.
Median Number of Bedrooms 4.0
Median Number of Baths 3.0
Market Action Index NUETRAL ADVANTAGE 29.5
You can see that prices for homes for sale in Del Mar are marching upward and that we’re getting close to the market’s all-time high. Watch for a persistent downward shift in the MAI as a leading indicator of the price strength.
MARKET ACTION INDEX (MAI)
The Market Action Index (MAI) answers the question “how’s the market?” by measuring the current rate of Del Mar home sales versus the amount of inventory. Index above 30 implies seller market conditions. Below 30 conditions favor the buyer.