La Jolla Real Estate Market Report for July 2010
The La Jolla real estate marketis 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 marketis 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 36 homes sell in July 2010, 39% less than last month. 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
|
36 (down 39%) |
17 (down 41%) |
19 (down 37%) |
|
Average $
|
$1,254,562 (up 21%) |
$1,870,411 (up 26%) |
$703,538 (up 16%) |
|
DOM
|
78 |
90 |
67 |
|
Sale $/List $
|
92% |
91% |
96% |
The volume of sales in the La Jolla real estate market was down substantially over last month but in contrast average sales prices went up significantly.
34 La Jolla homes (7% of the total) had a contingent status at the end of July (these homes are still considered active, but have offers that are being considered by either the short sale or REO lenders).
There were 503 homes in the La Jolla real estate market for sale at the end of July, 2% more than at the end of June, another increase in inventory; 60% of these are detached single family homes. This translates into an inventory of 13.7 months for detached homes (down from 14.5 last month), and 8 months for attached (up from 7.9 months in June), based on the rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
107 homes entered the La Jolla real estate market in July (down 7% from the 115 new listings last month), with 35 homes going pending, compared to 43 last month (down 19%).
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.
READ MORE:
La Jolla Homes for Sale - La Jolla Real Estate Market for June 2010
La Jolla Real Estate - La Jolla Real Estate Market Report for May 2010
La Jolla Real Estate - La Jolla Real Estate Market Report for April 2010
La Jolla Real Estate - La Jolla Real Estate Market Report for March 2010
La Jolla Real Estate - La Jolla Real Estate Market Report for February 2010
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