What's My La Jolla Home Worth? La Jolla Real Estate Market July 2017

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Real Estate Agent with Solutions Real Estate CalBRE License #01490977

What's My La Jolla Home Worth?

La Jolla Home Sales for July 2017

 

La Jolla Cove in La Jolla CAThe 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 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 has been 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, and buyers, 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 47 homes sell in July 2017, down 38% from last month, a trend we have seen 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 HOMES SOLD

47 (down 38%), 35 Days on Market, Ave. Sales Price $1,632,524 (down 11%), Ave. sale, 97% of asking price,

 

Detached Homes Sold

20 (down 55%), 42 Days on Market, Ave. Sales Price $2,670,612 (up 2%), Ave. sale 95% of asking price

 

Attached Homes Sold

27 (down 16%), 30 Days on Market, Ave. Sales Price $863,570 (up 16%), Ave. sale 98% of asking price

 

The overall volume of sales in the La Jolla real estate market dropped dramatically in July, but in particular for single family detached homes.  Average sales prices increased slightly for detached homes but more significantly for attached homes. 31% of the sales were cash transactions compared to 46% last month.

 

Oceanview homes in La Jolla CA

 

La Jolla buyers negotiated, on average, 2 - 5% off list price; however, 17 homes (36%) sold at or above asking price. Days on market decreased for detached single family homes but did not shift for attached homes.

 

The median sales price of detached homes increased to $2,332,500 (up 7%), and to $790,000 for attached homes, up 20%.

 

There were 3 La Jolla homes with a contingent status at the end of July, compared to 4 last month (these homes are still considered active, but typically are properties with 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 308 La Jolla homes on the market at the end of July, up 7% from June, yet another increase, in contrast to a number of communities that saw inventory declines in July. This translates into an inventory of 7.4 months for detached homes (up from 6.4 months from last month), and 3 months for attached (up from 2.8 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, but is a balanced market for buyers of detached single family homes as it was last month.

 

110 homes came on the La Jolla real estate market in July, 9% more than in June; 62 homes went pending (excluding those that closed escrow), also an increase, by 51%, 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 local market conditions (the Village, Muirlands, La Jolla Shores, La Jolla Farms, Bird Rock, Mt. Soledad, Windansea) please give me a call at (760) 840-1360. I’m happy to also discuss your housing needs for the purchase of a La Jolla home, and to create an effective plan to sell your current property.

 

SEARCH FOR HOMES FOR SALE IN LA JOLLA CA

 

READ MORE:

What’s my La Jolla Home Worth? La Jolla Real Estate Market June 2017

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Rainmaker
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Jeffrey Jones
AZ Home Seekers - San Tan Valley, AZ
AZ Home Seekers, azhomeseekers.com

What a great report. Thank you for the information, I'm sure both buyers and sellers will find it useful.

Aug 13, 2017 10:22 AM #1
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Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

La Jolla looks and sounds like a wonderful community.  Thanks for sharing a look at the real estate market there.

Aug 13, 2017 10:52 AM #2
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Jeff Dowler,  One of the places I always like to visit out in your area.  Make it a great day!

Aug 13, 2017 11:00 AM #3
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

If we were going to live in California La Jolla would be our choice.

Aug 14, 2017 04:52 AM #4
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Thanks Jeffrey Jones  I hope so. There are things they should know if they are thinking of buying or selling.

It's a beautiful place Belinda Spillman and easy to see why it's so expensive.

Jeff

Aug 14, 2017 08:33 AM #5
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Will Hamm  - you and many others. There's a lot to do and see there.

I get that Joe Pryor . I enjoy visiting but am pretty happy with where I am, especially being closer to LA where our kids and grandkids are.

Jeff

Aug 14, 2017 08:35 AM #6
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