What Happened in the La Jolla Real Estate Market in October 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 52 homes sell in October 2011, up 18% over September sales. Here’s a summary of the real estate activity (these MLS data do not include private sales, and are believed to be accurate but are not guaranteed).
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# SOLD |
52 (up 18%) |
26 (up 24%) |
26 (up 8%) |
|
Average $ |
$1,177,526 (down 14%) |
$1,760,615 (down 16%) |
$470,000 (down 37%) |
|
DOM |
86 |
84 |
68 |
|
Sale $/List $ |
93% |
92% |
95% |
The volume of sales in the La Jolla real estate market rose 18% over September sales, especially for detached homes. In contrast, a pattern we often see, average sales prices declined across the board. Buyers are still negotiating a bit for their homes, off listing price by 5 – 8% on average.
35 La Jolla homes (8% of the total) had a contingent status at the end of October (these homes are still considered active, but have offers that are being considered by either the short sale or REO lenders).
There were 427 La Jolla homes on the market at the end of October, a drop by 14% from September, the 2nd month of decline, also seen in other communities. This translates into an inventory of 10.3 months for detached homes (down from 11.4 last month), and 7.3 months for attached (down from 7.6 months in September), based on the rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
76 homes entered the La Jolla real estate market in October, about the same as in September (down by 2), with 76 homes going pending, an increase in pendings of 46%.
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 September 2011
La Jolla Homes for Sale | La Jolla Real Estate Market Report for August 2011
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
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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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Wow looks and sounds like a beautiful place to live! Also looks like things are improving in the area as well
Jeff,
Rising volumes and declining prices won't last forever. Your photo proves again La Jolla's beaches are part of California's jewerly box.
Merry Christmas,SC
Jeff a 18% increase is a very nice increase. It would be nice to see that happening everywhere.
Jeff -
Christmas is one of those times throughout the year that we gather with family and friends to celebrate. Christmas is a time to reflect on what is, was, and will be important in your life. Christmas is about who is important in your life. Christmas is for kids.
From our house to yours have a Verry Merry Christmas
Bob - it is a gorgeous area, and views of the ocean are amazing. Despite the prices, things continue to sell, except at the very top end. Lots of cash buyers.
Steve - well things tend to go up and down, rather than there being a clear cut trend. You're right, it is a beautiful area, and you can see why those you can afford it buy there.
George - agreed. It will be interesting to see what happens over the next few months.
Kathy - so nice of you to stop by and what a wonderful thought.
Jeff
Jeff
Lots of great things going on in La Jolla and the market napshotuis great the way you present it