La Jolla Real Estate Market Report for June 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 46 homes sell in June 2011, about the same as last month (47). 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
|
46 (down 2%) |
23 (up 5%) |
23 (down 8%) |
|
Average $
|
$1,239,684 (up 3%) |
$1,815,556 (down 6%) |
$663,813 (up 44%) |
|
DOM
|
119 |
116 |
122 |
|
Sale $/List $
|
94% |
93% |
94% |
The volume of sales in the La Jolla real estate market from last month overall, but detached home sales increased while attached homes sales declined. Average sakes prices rose significantly for attached homes, but declined for detached.
31 La Jolla homes (6% of the total) had a contingent status at the end of June (these homes are still considered active, but have offers that are being considered by either the short sale or REO lenders).
There were 504 La Jolla homes at the end of June, 2% more than in May, the 5th month of inventory increases; 57% of these are detached single family homes. This translates into an inventory of 12.8 months for detached homes (up from 12.3 last month), and 10.2 months for attached (down from 10.5 months in April), based on the rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
104 homes entered the La Jolla real estate market in June, 13% fewer than in May, with 51 homes going pending, also a decrease, by 7%, from May.
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.
Search for Homes for Sale in La Jolla CA
Search for Homes for Sale in Bird Rock, La Jolla CA
Search for Homes for Sale in Windansea, La Jolla CA
READ MORE:
La Jolla Homes for Sale | La Jolla Real Estate Market Report for May 2011
La Jolla Homes for Sale | La Jolla Real Estate Market Report for April 2011
La Jolla Homes for Sale | La Jolla Real Estate Market Report for March 2011
La Jolla Homes for Sale | La Jolla Real Estate Market Report for February 2011
La Jolla Homes for Sale | La Jolla Real Estate Market Report for January 2011
La Jolla Homes for Sale | La Jolla Real Estate Market Report for December 2010
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Thanks for the La Jolla market update, Jeff. Do you ever get statistics on foreign buyers versus others? That would be an interesting statistic to see!
Good Evening Jeff
Thanks for the post. Have a great day
Hi Jeff, Well it looks like things in La Jolla are looking up, homes sale wise at least. I was there on Sunday and I was shocked at how many businesses have closed and the shops remain empty. Some parts of the economy are just not exempt from the slower economic tide.
Hi Jeff,
You always do such a great job on your real estate market report. Your comment about La Jolla being the Jewel is so very true. And your coastline photo, spectacular!
Steve - good question. I suspect there is a way to grab these data but it is not in the MLS unless you look at each buyer in the public record. Will have to check this out as the anecdotal data say the International real estate market in CA is huge.
Patrick - you're welcome.
William - it's clear in a number of ways that things are still very difficult. The prices in LJ shift monthly depending on what has sold and it's hard to say what the real trend is.
Thanks, Lynda - a visit makes it easy to understand how it gets the name and why it is so expensive to live here.
Jeff
when we lived near there many years ago, We didn't know how to pronounce La Jolla.. so we pronounced it like it is spelled.. everyone looked at us like we had lost our minds.. ( well, maybe like we had just moved there from the south..hahaha) Beautiful area!!
Jeff I love your Market report, most of all the pictures that you use to illustrate it are even better:)
I'm sorry to say that our La Jolla listing's buyer just cancelled. So, there will be another active for your report next month.
Jeff you have done a great job as usual keeping everyone up to speed on what is happening in the La Jolla market.
Jeff - Great real estate market report for La Jolla homes for sale, very easy to read and understand.