La Jolla Homes for Sale – La Jolla Real Estate Market Report for August 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 45 homes sell in August 2011, nearly 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 |
45 (down 4%) |
21 (down 9%) |
24 (no change) |
|
Average $ |
$1,373,036 (up 32%) |
$2,272,214 (up 43%) |
$586,255 (up 14%) |
|
DOM |
92 |
90 |
75 |
|
Sale $/List $ |
92% |
90% |
94% |
The volume of sales in the La Jolla real estate market changed little from last month overall. But in contrast average sale prices rose substantially across the board. This is, in part, due to the sale of an $11,550,000 home, the most expensive home sold in 2011 so far.
32 La Jolla homes (6% of the total) had a contingent status at the end of August (these homes are still considered active, but have offers that are being considered by either the short sale or REO lenders).
There were 493 La Jolla homes at the end of August, just 1% below July; 58% of these are detached single family homes. This translates into an inventory of 11.6 months for detached homes (down from 11.9 last month), and 8.6 months for attached (down from 93.6 months in July), based on the rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
86 homes entered the La Jolla real estate market in August, fewer than in July, with 14 homes going pending, about 1/3 the number of pendings in July.
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 July 2011
La Jolla Homes for Sale | La Jolla Real Estate Market Report for June 2011
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
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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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Jeff,
Six percent contingent Short Sale seems quite low all things considered. The short days on the market must be encouraging for your Sellers.
Great report,
Steve
Hi Jeff, Looks like La Jolla market is doing fine along with some of the other San Diego sub markets. A small drop in sales but more expensive homes sellings. I hope this will continue for the rest of the year.
Steve
Given this high end market it is not all that surprising. It is signicantly higher in other areas. The other thing to keep in mind is that there are short sales and REOs that are not yet into the ofer review process (and thus not Contingent) so that 6% is actually lower that the total number of short sales and REOs on the market.
Jeff
Jeff, Thank you for the very comprehensive La Jolla Market Report. La Jolla is amazing. I visit family and friends in San Diego several times a year. I’ve spent time in the up-scale village and eaten at a Mexican Restaurant in the village. The only other place that I am aware of that comes close to offering what La Jolla offers … is Santa Barbara.