La Jolla Real Estate Market Report for January 2011
The La Jolla real estate market is one of the most expensive in San Diego County. A visit to La Jolla on-line, or better yet in real life, will quickly give you a good sense of why this is so.
La Jolla, "The Jewel," is an extraordinarily beautiful coastal community with many homes offering fabulous views of the ocean from the hills, and a trendy, very up-scale village offering the finest in shopping and dining. La Jolla has often been compared to the French and Italian Rivieras with wonderful ocean and coastline vistas from the hills, amazing homes, beautiful architecture, and a terrific year-round climate, attracting visitors from around the world.
READ MORE:
La Jolla Real Estate - A Jewel on the San Diego Coastline
La Jolla California - VIDEO Tour of this Jewel by the Sea
Mt. Soledad in La Jolla California - Forever Views of San Diego and La Jolla
Walkable Neighborhood Series - Real Estate in Upscale, Affluent La Jolla Village
Having accurate information on the La Jolla real estate market is essential so you can make informed decisions about your home buying and selling in the community. Like other communities, La Jolla has been hit by the downturn in the market. Despite the shift in prices, La Jolla remains an expensive real estate market, particularly for ocean view and ocean front homes.
The La Jolla real estate market saw 30 homes sell in January 2011, 29% fewer than last month. Here's a summary of the real estate activity (these data do not include private sales, and are believed to be accurate but are not guaranteed).
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# SOLD
|
30 (down 30%) |
16 (down 30%) |
14 (down 30%) |
|
Average $
|
$1,056,120 (down 25%) |
$1,469,662 (Down 30%) |
$583,500(down 8%) |
|
DOM
|
93 |
81 |
107 |
|
Sale $/List $
|
94% |
91% |
98% |
The volume of sales in the La Jolla real estate market decreased substantially over last month, as did average sales prices. Day of market also declined, although not significantly. These decline may be related to the holidays, since homes selling in January in most cases would have gone pending during November and December.
23 La Jolla homes (6% of the total) had a contingent status at the end of January (these homes are still considered active, but have offers that are being considered by either the short sale or REO lenders).
There were 413 homes in the La Jolla real estate market for sale at the end of January, about 2% more than in December; 53% of these are detached single family homes. This translates into an inventory of 10.2 months for detached homes (up from 9.9 last month), and 9.5months for attached (up from 9.1 months in December), based on the rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
124 homes entered the La Jolla real estate market in December, more than 2.5 times as many as in December, likely related to the holiday period, with 43 homes going pending, 19% more than December, again most probably a post-holiday phenomenon.
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 the market conditions (the Village, Muirlands, La Jolla Shores, La Jolla Farms, Bird Rock, Mt. Soledad, Windansea) please let me know.
READ MORE:
La Jolla Homes for Sale | La Jolla Real Estate Market Report for December 2010
La Jolla Homes for Sale | La Jolla Real Estate Market Report for November 2010
La Jolla Homes for Sale | La Jolla Real Estate Market Report for October 2010
La Jolla Homes for Sale | La Jolla Real Estate Market Report for September 2010
La Jolla Homes for Sale | La Jolla Real Estate Market Report for August 2010
La Jolla Homes for Sale | La Jolla Real Estate Market Report for July 2010
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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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