La Jolla Homes for Sale - What Happened in the La Jolla Real Estate Market in May 2012?
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.
Having current, local information about La Jolla homes for sale is essential so you can make informed decisions about your home buying and selling in La Jolla. Despite the shift in prices over the last 6+ years, La Jolla remains an expensive real estate market, particularly for ocean view and ocean front homes.
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. Despite the shift in prices over the last 6+ years, La Jolla remains an expensive real estate market, particularly for ocean view and ocean front homes.
The La Jolla real estate market saw 59 homes sell in May 2012, 3 more than in April (56). 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 |
59 (up 4%) |
26 (down 16%) |
33 (up 22%) |
|
Average $ |
$1,122,250 (down 13%) |
$1,701,444 (down 8%) |
$665,915 (up 3%) |
|
DOM |
87 |
74 |
98 |
|
Sale $/List $ |
95% |
93% |
96% |
The volume of sales in the La Jolla real estate market shifted up modestly in May for attached homes but there were fewer detached homes sold.; 20 (34%) of the home sales were cash. Average sales prices also shifted down for detached homes but increased, although modestly, for attached. Buyers are still negotiating for their homes, averaging 4 – 7% off list price.
37 La Jolla homes (10% of the total) had a contingent status at the end of May (these homes are still considered active, but have offers that are being considered by either the short sale or REO lenders).
There were 361 La Jolla homes on the market at the end of May, the same as in April. This translates into an inventory of 7.2 months for detached homes (down from 7.6 last month), and 7.2 months for attached (down from 8.4 months in April), based on the rate of sales over the last 6 months.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
91 homes entered the La Jolla real estate market in May, down by 6 (6%) from April, with 66 homes going pending, up 18% over April pendings.
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.
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READ MORE:
La Jolla Homes for Sale – What Happened in the la Jolla Real Estate Market in April 2012?
La Jolla Homes for Sale – What Happened in the la Jolla Real Estate Market in March 2012?
La Jolla Homes for Sale – What Happened in the La Jolla Real Estate Market in February 2012?
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