La Jolla Homes for Sale - What Happened in the La Jolla Real Estate Market in July 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 with 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
The La Jolla real estate market saw 55 homes sell in July 2012, 10 fewer than June (down 15%). 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
|
55 (down 15%)
|
28 (down 24%)
|
27 (down 4%)
|
|
Average $
|
$994,596 (down 18%)
|
$1,377,287 (down 14%)
|
$597,732 (down 12%)
|
|
DOM
|
94
|
114
|
73
|
|
Sale $/List $
|
95%
|
94%
|
96%
|
The overall volume of sales in the La Jolla real estate market shifted down in July, primarily due to a significant decrease in detached home sales, which is up by 17% over sales in July 2011; 24 (44%) of the home sales were cash. Average sales prices also shifted down for detached homes – these prices are down on average by 5% from July 2011. Buyers are still negotiating for their homes, averaging 4 – 6% off list price.
34 La Jolla homes (9% 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 365 La Jolla homes on the market at the end of July, an increase of 4% over June (but 27% lower than in July 2011). This translates into an inventory of 6.5 months for detached homes (down from 6.6 last month), and 6.6 months for attached (down from 7 months in June), based on the rate of sales over the last 6 months. The La Jolla real estate market continues to tighten for buyers.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
103 homes entered the La Jolla real estate market in July, up by 18% over June, with 51 homes going pending, the same as last month.
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 June 2012?
La Jolla Homes for Sale – What Happened in the La Jolla Real Estate Market in May 2012?
La Jolla Homes for Sale – What Happened in the La Jolla Real Estate Market in April 2012?
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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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4 Comments on La Jolla Homes for Sale - What Happened in the La Jolla Real Estate Market in July 2012?
Hey, Jeff, love this presentation, may have to steal a few of the concepts of this post. I absolutely love LaJolla, but then I am sure I am preaching to the choir by telling you that!
Jeff
I just love that area you live in; La Jolla looks like the place to be
La Jolla looks like a real jewel alright and there's not a lot of wiggle room in the prices according to what I see in your post. Nice job on the market reports.
Kathy - oh yes. And steal away!
Tom - these photos simply do no do it justice! I need to spend some time there grabbing a bunch more photos.
Thanks, Georgina. Pricing and negotiations have been pretty consistent.
Jeff