A Del Mar mansion has shattered San Diego County records for the most expensive residential property after it sold for $50 million this week.
The newly build mansion at 2920 Camino Del Mar went on sale in November 2024 for $75 million but slashed its price to $59.5 million in June before finally selling for nearly $10 million less than that.
A buyer for the property was not revealed. The deed shows the purchasers as Ocean Front Vibrations LLC, which state records show was set up by a Newport Beach-based law firm.
The Del Mar sale won the crown as biggest-ever sale after a La Jolla home sold for $47 million in an off-market deal roughly a week earlier. The oceanfront mansion at 6026 Camino de la Costa is 13,500 square feet with six bedrooms and 10 bathrooms.
Whoever bought the Del Mar property will have wealthy neighbors to hobnob with: It is a few houses down from Bill Gates’ $43 million home, and a property purchased by private-equity billionaire Egon Durban for $44.1 million in October 2023.
The Del Mar estate is 30,491 square feet and features a main 4,508-square-foot house, two guest houses (353 square feet and 377 square feet), a pool and 75 feet of ocean frontage — one of the biggest in San Diego County. In total, there are seven bedrooms and eight bathrooms.
Previous owner Sandra Naftzger sold the property to spend more time with her family in the Los Angeles area, said listing agent Rande Turner when it went on sale in November. The property has belonged to her family since the 1930s. It took around 12 years to convert the lot, which involved various approvals for the construction of a new seawall and other improvements, as well as a challenge from a neighbor over the construction.
The outdoors area with pool, pool house (right), garage (top right) and main residence (left) at the Ocean House Del Mar in November. (K.C. Alfred / The San Diego Union-Tribune)
The pool and outdoor area with the main residence in the background at 2920 Camino Del Mar. (K.C. Alfred / The San Diego Union-Tribune)
The master bedroom at 2920 Camino Del Mar. (K.C. Alfred / The San Diego Union-Tribune)
The kitchen at 2920 Camino Del Mar. (K.C. Alfred / The San Diego Union-Tribune)
The living room at Ocean House Del Mar. (K.C. Alfred / The San Diego Union-Tribune)
The kitchen at Ocean House Del Mar. (K.C. Alfred / The San Diego Union-Tribune)
The exterior beach side deck at 2920 Camino Del Mar.(K.C. Alfred / The San Diego Union-Tribune)
The pool and outdoor area with the pool house in the background at 2920 Camino Del Mar. (K.C. Alfred / The San Diego Union-Tribune)
The library/office area at 2920 Camino Del Mar. (K.C. Alfred / The San Diego Union-Tribune)
The exterior beach side deck at 2920 Camino Del Mar. (K.C. Alfred / The San Diego Union-Tribune)
The library/office area at 2920 Camino Del Mar. (K.C. Alfred / The San Diego Union-Tribune)
A guest bathroom at 2920 Camino Del Mar. (K.C. Alfred / The San Diego Union-Tribune)
The main hallway at 2920 Camino Del Mar.. (K.C. Alfred / The San Diego Union-Tribune)
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The outdoors area with pool, pool house (right), garage (top right) and main residence (left) at the Ocean House Del Mar in November. (K.C. Alfred / The San Diego Union-Tribune)
The San Diego Union-Tribune toured the property when it first went on sale. It uses brick throughout, unlike many of the older wooden homes in the area. There are drainage systems throughout in case water makes it over the seawall (very rare) and plants that will thrive in the coastal climate. Designed by William Hefner, a Los Angeles-based architect, the home takes a minimalist design approach.
It comes with a 15- by 40-foot pool, hot tub and resting chair area. New Zealand Christmas trees, fig leaf plants and paspalum grass accent the outdoor living space. There are two guest houses, which feature TVs, artwork and bathrooms, and function as their own separate beach houses. The primary bedroom sits on the second floor of the main house with a full view of the ocean, as well as a bathroom with a big tub and shower.
Luxury homes, especially very expensive ones, can sometimes take years to sell. As of mid-October, the average time on market for a San Diego County that cost more than $6 million was 277 days, said Reports on Housing. That’s compared to 81 days to sell for around the median home price, $750,000 to $1 million, the real estate firm said.
It took the Del Mar property 340 days to sell, which is not out of the ordinary when considering some high-end properties have been on the market longer. For instance, the Sand Castle Mansion in La Jolla has been for sale for $108 million without a buyer for 366 days.
Massive real estate sales will do little to squash the argument the U.S. is in a K-shaped economy, which has been a recent popular talking point among economists. A K-shaped phenomenon is where different income groups experience an economy differently, typically referring to affluent people seeing wealth increase, and working- and middle-class groups struggling with financial hardship.
It isn’t always real estate that illustrates a K-shaped economy, with examples ranging from auto loan delinquencies to fast food. McDonald’s CEO Chris Kempczinski told CNBC earlier this month the U.S. appeared to be in a “two-tier economy” where traffic to the chain is down by double digits among low- and middle-class diners.
“If you’re upper income, earning over $100,000 (a year), things are good,” he said.
Del Mar was among five San Diego County ZIP codes that made PropertyShark’s annual list of the 100 most expensive areas earlier this week. It ranked No. 47 with a median sale price of $2.7 million. It was below Rancho Santa Fe, ranked No. 10, with a median of $4.9 million.
San Diego County Assessor Jordan Marks estimated annual property taxes for the Del Mar property to be around $532,000. He said the sale also means more money for Del Mar, which will see roughly $86,000 more a year in revenue than what it had been getting from the property.
Originally Published: October 23, 2025 at 2:36 PM PDT