What's the Value of My La Jolla Home?
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. La Jolla is an expensive housing market, particularly for ocean view and ocean front homes and estates, for a number of reasons.
La Jolla, “The Jewel,” is an extraordinarily beautiful coastal community with many properties 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
The La Jolla real estate market saw 48 homes sell in January 2016, down 17% from last month. 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 HOMES SOLD
48 (down 17%), 50 Days on Market, Ave. Sales Price $1,101,323 (down 21%), Ave. sale 95% of asking price
Detached Homes Sold
15 (down 35%), 80 Days on Market, Ave. Sales Price $2,017,736 (down 4%), Ave. sale 91% of asking price
Attached Homes Sold
33 (down 6%), 36 Days on Market, Ave. Sales Price $691,409 (down 27%), Ave. sale 96% of asking price
The overall volume of sales in the La Jolla real estate market dropped modestly for both single family detached and attached homes. Average sales prices also declined, especially for attached homes.
La Jolla buyers negotiated, on average, 4 - 9% off list price; 14 homes (29%) sold at or above asking price. Days on market increased for detached single family homes but decreased for attached.
The median sales price of detached homes increased to $1,955,000 (up 8%), abut declined for $599,000 (down 12%) for attached homes.
There were 2 La Jolla homes with a contingent status at the end of January, compared to 1 as last month (these homes are still considered active, but have offers that are being reviewed by either the short sale or REO lenders and January not actually be accepting more offers or be available to tour).
There were 214 La Jolla homes on the market at the end of January, up 6% from December, an increase following several declines. This translates into an inventory of 6 months for detached homes (up from 5.3 months from last month), and 1.3 months for attached (up from 1.1 months for 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 and currently is a balanced market for buyers of detached homes.
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How Important is Inventory when Buying or Selling? Very!!
93 homes came on the La Jolla real estate market in January, than twice the number in December (up 111%); 34 homes went pending (excluding those that closed escrow), down 65% from 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
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What’s my La Jolla Home Worth? La Jolla Real Estate Market December 2016
, as a follow up to my 
And well done. I'm using this as a template for my future reports.
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