As we close out the 1st quarter of 2016, I can share that our market has been busy all around San Diego. Although, San Diego County being what it is, a collection of unique neighborhoods and villages, some areas are busy in a sellers market with multiple offers, while others and sitting in a buyer's market with longer market times. While La Jolla tends to hold it's values and bounce back quickly from depreciated markets, it is currently in a buyers market over $1million and in the single family home market. However, the La Jolla attached home market is enjoying more of a seller's market!
Condos & TownHomes (comparing Feb 2015 to Feb 2016):
- La Jolla Inventory is UP 90.8% from 2015
- La Jolla Pending Sales are UP 4.7% from 2015
- La Jolla Closed sales are UP 22.2% from 2015
- La Jolla Median Sales price dropped from $640,000 (2015) to $599,500 (2016)
- However the % of original list price is up 2.4% (sellers are getting 95.3%) which means you can potentially get up to an 4.7% discount in our condo market, off the asking price).
- La Jolla Days on market for condos has improved too; 44 days average is 48.8% faster than days on market in 2015!
Over all though, La Jolla is out performing the entire Median Sales Price of the remaining MLS listed properties, despite a minor downward trend. It's a great time to buy & sell condos in La Jolla, the Jewel of San Diego!
(I'll update these stats as we get more data in for March)
Current as of March 5, 2106 all data from SANDICOR, our San Diego MLS provider.
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