Del Mar, CA Market Report for the Week of October 29, 2012
The median list price in DEL MAR, CA this week is $2,195,000.
Inventory is tightening and days-on-market is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. Since this is a Buyer’s market prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller’s zone, and we are likely to see upward pressure on pricing.
Despite this week’s down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
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For more information about Del Mar, CA Single Family Homes, contact Maxine & Marti Gellens