What Happened in the La Jolla Real Estate Market in December 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 is often 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 current, local information on the La Jolla real estate market is essential so you can make informed decisions about your home buying and selling in La Jolla. 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 50 homes sell in December 2011, up 39% from November sales. Here’s a summary of the real estate activity (these MLS summary data do not include private sales, and are believed to be accurate but are not guaranteed).
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# SOLD |
50 (up 39%) |
23 (up 21%) |
27 (up 59%) |
|
Average $ |
$1,425,370 (up 1%) |
$2,410,260 (down 13%) |
$578,722 (up 14%) |
|
DOM |
109 |
133 |
8 |
|
Sale $/List $ |
92% |
89% |
95% |
The volume of sales in the La Jolla real estate market increased significantly, by 39%, from November sales, which is similar to the pattern of increased sales we saw in some other North County communities in December.
Average sales prices declined for detached homes, but interestingly the most expensive home sold in La Jolla in all of 2011 sold this month, at $14,097,000. Buyers are still negotiating for their homes, off list price by 5 – 11% on average.
32 La Jolla homes (9% of the total) had a contingent status at the end of December (these homes are still considered active, but have offers that are being considered by either the short sale or REO lenders).
There were 346 La Jolla homes on the market at the end of December, a drop by 10% from November, the 4th month of decline and a pattern we are seeing on other North County San Diego coastal communities. This translates into an inventory of 8.8 months for detached homes (down from 9.9 last month), and 6.1 months for attached (down from 6.7 months in October), based on the rate of sales over the last 6 months. Thus the La Jolla real estate market continues to become even more competitive for buyers.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
40 homes entered the La Jolla real estate market in December, 31% fewer than in November, perhaps not surprising given the holiday season, with 23 homes going pending, 39% fewer than the number of November pendings, again a pattern we see echoed in other communities.
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 their 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 – What Happened in the La Jolla Real Estate Market in November 2011?
La Jolla Homes for Sale | What Happened in the La Jolla Real Estate Market in October 2011?
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
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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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Such a beautiful community Jeff and the coastline is entrancing...great place to live in one has the right sugar daddy! lol
Jeff - Great real estate market report for La Jolla homes. By the way I love the font you used for this report.