La Jolla Homes for Sale Slow - Condos Fast

More expensive homes always take longer to market, if for no other reason than that there are so many fewer buyers who can afford the home.  That continues to be the case in La Jolla which is further aggravated by the stricter lending policies



The bars represent months of inventory (that is, how many homes are on the market divided by how fast do they sell).  This is what defines a buyer's market or a seller's market.  Although there are a couple of buyer's market price ranges for detached homes, the majority of the activity (as represented by the lines) shows that it is mostly a neutral market.

However, this is not the case for condos.  The active price range is clearly in a seller's market.  It is primarily as you move up in price beyond $1,000,000 that the condo market gets really weak.  The couple of spikes in the lower price ranges occur because agents like to price homes at $xxx,999.99 to feed into our warped human psychology of looking primarily at that first digit.  When appropriately spread out, these really fall in the normal activity ranges - no cause for alarm.