Del Mar Real Estate and Property Values
The History of Del Mar & Future Housing Trends
Breathtaking canyons interspersed with hillsides of homes, Del Mar is two square miles of coastal land best known for its fairgrounds and race track “where the surf meets the turf.” Colonel Jacob Taylor, who came with his family to live on nearby Rancho Penasquitos, met Theodore Loop who suggested that they build a town on the ocean. Taylor was captivated by the beauty and potential of the area, and in the summer of 1885, he purchased 338.11 acres at the northern end of the mesa from homesteader Enoch Talbert for $1,000. Theodore Loop formed a partnership with Jacob Taylor to sell 50 x 140 foot lots, along the beach and the village, and thus the town of Del Mar was born.
Taylor was a dynamic visionary who pictured Del Mar as a seaside resort for the rich and famous. With technical support from family and friends, he designed and built a town whose focal point was Casa del Mar, a hotel-resort on what is now 10th Street. Other town attractions included a train station, a dance pavilion, and a bathing pool extending from the beach out into the sea. Like other areas in San Diego, property values were initially very modest.
The first Del Mar store, located on the north side of 9th Street, was owned by Henry John Gottesburen and his wife Mary. In 1889, Jacob Taylor’s hotel burned to the ground, leaving Del Mar without its main attraction. With the loss of the hotel and with many Californians suffering from economic hardships, Del Mar became dormant for about 15 years until the early 1900s. After World War II, Del Mar grew steadily to become the show place it is today.
The Beach Lifestyle
Two beautiful beaches, the famous Torrey Pines State Reserve, sunny weather, an annual fair and the famous Del Mar Racetrack attract visitors who come to enjoy sports and recreation near the ocean. Located in San Diego County 20 miles north of the City of San Diego, Del Mar is bordered on the south by Torrey Pines State Reserve, on the north by the San Dieguito River, Del Mar Racetrack and San Diego County Fairgrounds, and on the west by the Pacific Ocean. East of Del Mar is the I-5 freeway and a new community, Carmel Valley. For fans of Carmel-by-the-Sea on the central California coast, this is the warmer, southern version. Art galleries, fantastic ocean views and winding streets supply a feel of an upscale community with character and charm. Seagrove Park, James Scripps Bluffs Preserve, Torrey Pines State Reserve and Beach and nearby Torrey Pines Public Golf Course provide some fantastic outdoor activities and opportunities to enjoy Pacific Ocean views Del Mar is known for.
Overview of Del Mar Properties and Homes
The real estate market in Del Mar currently has a sale price median for homes in the area stand at $725,000, from a total of 128 home sales. This has shown a sale price median increase of nearly 13%, with the average number of sales decreasing by 16% during the past year. There was an increase in the price of square foot average for homes in the area, with an estimate increase of 15.4% from last year. The average price of a home being listed in the Del Mar real estate market today stands at $1,134,420, which is actually a 5.6% decrease overall from last month. Sales prices have actually increased by nearly 11% in the past 5 years and the figures are expected to even go up a notch faster in the coming 5 years.
If you are looking to invest in established developments and like to live near the beach or race track, then Del Mar represents a great choice for the ultimate lifestyle.