La Jolla Homes for Sale
What Happened in the La Jolla Real Estate Market in November 2014?
The La Jolla real estate market is one of the most expensive in San Diego County. A virtual visit to La Jolla (see links below), 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 buying or selling a home in La Jolla. Despite the shift in prices, La Jolla remains an expensive housing 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, up-scale village offering the finest in shopping and dining. La Jolla is often compared to the French and Italian Rivieras with spectacular ocean and coastline vistas, 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
The La Jolla real estate market saw 41 homes sell in November 2014, down 32% from October, a tend we are seeing in other communities. Here’s a summary of the real estate activity (these MLS summary data do not include private sales, and are believed to be accurate at the time this report was written but are not guaranteed).
|
|
TOTAL |
DETACHED |
ATTACHED |
|
# SOLD |
41 (down 32%) |
18 (down 25%) |
23 (down 36%) |
|
Average $ |
$1,244,328 (down 6%) |
$2,052,975 (down 6%) |
$611,474 (down 9%) |
|
DOM |
67 |
88 |
50 |
|
Sale $/List $ |
93% |
90% |
95% |
The overall volume of sales in the La Jolla real estate market declined fairly significantly overall, but with a more significant drop in attached home sales. Average sales prices also declined for detached homes as well as for attached homes. La Jolla buyers negotiated, on average, 5 - 10% off list price but with some homes selling at or more than list price. 34% of these transactions were cash.
9 La Jolla homes (3% of the total) had a contingent status at the end of November, 2 less than last month (these homes are still considered active, but have offers that are being reviewed by either the short sale or REO lenders and may not actually be accepting more offers or be available to tour).
There were 271 La Jolla homes on the market at the end of November, a decline of 19% from last month, and the 4th consecutive decline in inventory. This translates into an inventory of 5.8 months for detached homes (down from 6.4 months last month), and 2.6 months for attached (up from 2.5 months last month), based on the rate of sales over the last 6 months. The La Jolla real estate market remains a strong seller’s market for attached homes but is tending toward being a seller’s market for detached homes.
READ MORE:
How Important is Inventory when Buying or Selling? Very!!
77 homes entered the La Jolla real estate market in November, 13% more than last month, with 59 homes going pending, also an increase, by 9%.
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 October 2014?
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