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What is the La Jolla, CA market report for the summer of 2011?

By
Real Estate Agent with ReMax Coastal Properties La Jolla and Pacific Beach, San Diego

What is the La Jolla market report for the summer of 2011?

The green bars show the median price, each month, for single family homes from July 2010 to July 2011.  It fluctuated between $ 1.8M and $ 1.275M, ending at $ 1.275, an 8% drop.  The number of sales has risen from 17 in July 2010 to 24 in July 2011.  At the La Jolla REBA (Real Estate Brokers Association) meetings, Realtors are announcing price reductions on a regular basis.  So the statistics are being born out by actual experience.  Prices have softened somewhat the last 12 months.

 

La Jolla market bar graph

La Jolla Real Estate Sales                                    Click on Luxury Home Search to get listings
Jan - May 2011

 


 

Total Sales for July - 54                              La Jolla Shores homes
SFH Sales for July  -  26
Condo Sales for July - 24

Foreclosures for July - 3

Total Sales for the year  -  373
Total Sales over 1.5 Mil  -  73
Total Sales over 2 Mil     -  40
Total Sales over 3 Mil     -  17
Total Sales over 5 Mil      -  1

Median SFH Price 2009  -  $1,495,000
Median SFH Price 2010  -  $1,324,000
Median SFH Price 2011  -  $1,330,000

Comments (2)

Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     Derk, my brother has been raving about La Jolla for some time now.  He lived in Scottsdale for years, and is now in Salt Lake City. 

     Whenever we speak, he says he wants to move to La Jolla.   We shall see!

Aug 29, 2011 05:03 PM
Anonymous
Derk Simonson

Hi Fred,  You can't blame him.  Also, we've been seeing 10-20% and greater price reductions for the last several years, on perfectly good properties - prices rolling back to the early 2000's (before the bubble).  I'm here for you and your brother, thanks for the comment  Derk

Aug 30, 2011 06:34 AM
#2