Del Mar Market Report Week of July 9, 2012
THIS WEEK’S market report for Del Mar
The median list price in DEL MAR, CA this week is $1,750,000.
Demand measured by the Market Action Index is increasing and
days-on-market is trending downward. Even as more properties
come available, these are positive trends for the market.
Supply and Demand
Home sales have been exceeding new inventory for several weeks.
However because of excess inventory, prices have not yet stopped
falling. Should the sales trend continue, expect prices to level off
soon and potentially to resume their climb from there. Watch prices
as the market transitions from a Buyer’s market to a Seller’s market.
Price
Again this week we see a downward notch for prices. Pricing has
been weak in recent weeks and versus their absolute-high levels.
The Market Action Index is a good leading indicator for the
durability of this trend.
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