What's the Value of My La Jolla Home?
La Jolla Home Sales in September 2017
Having current, local information about La Jolla homes for sale is essential so you can make informed decisions about buying or selling a home in La Jolla. La Jolla is an expensive housing market, particularly for ocean view and ocean front homes and estates, for a number of reasons.
La Jolla, “(La Hoya in Spanish = The Jewel),” is an extraordinarily beautiful coastal community with many properties offering fabulous views of the ocean from the hills, and a trendy, up-scale village offering the finest in shopping and dining. La Jolla is often compared to the French and Italian Rivieras with spectacular ocean and coastline vistas, amazing homes, beautiful architecture, and a terrific year-round climate, attracting visitors, and buyers, from around the world.
The La Jolla real estate market saw 72 homes sell in September 2017, up 33% from last month. Here’s a summary of the real estate activity (these MLS summary data do not include private sales, and are believed to be accurate at the time this report was written but are not guaranteed).
TOTAL HOMES SOLD
72 (up 33%), 47 Days on Market, Ave. Sales Price $1,582,812 (no change), Ave. sale, 96% of asking price
Detached Homes Sold
33 (up 65%), 66 Days on Market, Ave. Sales Price $2,648,499 (down 5%), Ave. sale 92% of asking price
Attached Homes Sold
39 (up 5%), 30 Days on Market, Ave. Sales Price $681,076 (down 37%), Ave. sale 99% of asking price
The overall volume of sales in the La Jolla real estate market increased in September, especially for detached homes. Average sales prices decreased modestly for detached homes but more significantly for attached homes. 43% of the sales were cash transactions compared to 46% last month.
La Jolla buyers negotiated, on average, 1 - 8% off list price; however, 30% of the homes sold at or above asking price. Days on market decreased for both detached single family homes and attached homes.
The median sales price of detached homes decreased to $1,875,000 (down 23%), and to $580,000 for attached homes, down 31%.
There was 1 La Jolla home with a contingent status at the end of September, the same as last month, and the same home (these homes are still considered active, but typically are properties with offers that are being reviewed by either the short sale or REO lenders and may not actually be accepting more offers or be available to tour).
There were 249 La Jolla homes on the market at the end of September, a decline by 16% from August, the 2nd consecutive decrease. This translates into an inventory of 5.8 months for detached homes (down from 6.9 months from last month), and 2.2 months for attached (down from 3 months last month), based on the rate of sales over the last 6 months. The La Jolla real estate market remains a strong seller’s market for attached homes, but is shifting from a balanced market to a seller’s market for buyers of detached single family homes as it was last month.
83 homes came on the La Jolla real estate market in September, 22% fewer than in August; similarly, 68 homes went pending (excluding those that closed escrow), a decrease by 15%, from last month.
If you would like more detailed information about the La Jolla real estate market, or would like to know more about specific residential areas and local market conditions (the Village, Muirlands, La Jolla Shores, La Jolla Farms, Bird Rock, Mt. Soledad, Windansea) please give me a call at (760) 840-1360. I’m happy to also discuss your housing needs for the purchase of a La Jolla home, and to create an effective plan to sell your current property.
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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
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