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 26 homes sell in January 2010. 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
|
26 (down 56%) |
11 (down 61%) |
15 (down 52%) |
|
Average $
|
$1,140,900 (up 3%) |
$1,775,712 (up 3%) |
$675,393 (down 22%) |
|
DOM
|
114 |
94 |
129 |
|
Sale $/List $
|
90% |
90% |
90% |
26 homes sold in January, a decline of 56% over last month; average sales prices rose modestly for detached homes. Days on market also rose.
37 La Jolla homes (10% 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 365 homes in the La Jolla real estate market for sale at the end of January, an increase of 9% over December numbers; 56% are detached single family homes, priced from $536,085 to $28,500,000 (there were 13 homes priced above $10 million on the market at the end of January). This translates into an inventory of 9 months for detached homes, and 5 months for attached, based on the rate of sales over the last 6 months; both increase over the previous month.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
89 homes entered the La Jolla real estate market in January (versus 52 in December), a 71% increase, with 35 homes going pending, 3 less than last month.
If you need 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) please let me know.
READ MORE:
La Jolla Real Estate Market Report for December 2009
La Jolla Real Estate Market Report for November 2009
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If I can provide more information about La Jolla real estate and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2010 Jeff Dowler "The California Relocation Dude" Carlsbad Homes and Real Estate Tidbits
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If I can provide more information about Carlsbad real estate and surrounding areas, the housing market, or otherwise assist you, friends or family in a home search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
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I like the little tidbit about La Jolla being compared to the French and Italian Rivieras. From the photo, I can see how that's possible. And good job with the numbers and percentages. I can make great graphs, but I stink at calculating the percentages. LOL
Jeff - invaluable information for a home buyer and seller. Oh how I love La Jolla. Absolutely gorgeous
Hi Jeff, Another good report. Seems that things are improving monthly in most markets and I would have expected La Jolla to be heating up more than the report indicates. Oddly instead of the sales increasing with a bit lower prices, they seem to hitting the opposite trend.
Those SOLD stats for December look pretty good to me, especially for detached.
I guess it's time for me to do my duty and pull ours together.
Thanks.
Jeff, Looks like list to sale is lower than ours but your prices are way higher. It is a great time to be in real estate.
Lisa - it is a gorgeous community, and with prices to match.
Nevin - a favorite place to visit but I can afford much of a house there.
William - actually a number of communities in my area saw sales volume drop for things closed in Jnaruy but with prices up. But given we just had the holiday...
Lenn - I'll be curious to see yours. Overall things are not too bad.
Ross - most communities are in the 96 - 99% arena. More negotiating going on in high-end areas.
Jeff