La Jolla Homes for Sale | La Jolla Real Estate Market Report for October 2010

By
Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

La Jolla Real Estate Market Report for October 2010

La Jolla Cove photo for La Jolla real estate market report

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.

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 has often been compared to the French and Italian Rivieras with wonderful ocean and coastline vistas from the hills, 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

Having accurate information on the La Jolla real estate market is essential so you can make informed decisions about your home buying and selling in the community. Like other communities, La Jolla has been hit by the downturn in the market. Despite the shift in prices, La Jolla remains an expensive real estate market, particularly for ocean view and ocean front homes.

The La Jolla real estate market saw 49 homes sell in October 2010,3 more than last month. Here's a summary of the real estate activity (these data do not include private sales, and are believed to be accurate but are not guaranteed).

 

TOTAL

DETACHED

ATTACHED

# SOLD

49 (up 14%)

23 (down 8%)

26 (up 44%)

Average $

$1,088,167 (down 9%)

$1,577,416 (down 7%)

$655,373 (down 13%)

DOM

97

106

90

Sale $/List $

94%

94%

94%

 

The volume of sales in the La Jolla real estate market increased over last month, due to a large increase in attached home sales, while average sales prices dropped across the board.

20 La Jolla homes (4% of the total) had a contingent status at the end of October (these homes are still considered active, but have offers that are being considered by either the short sale or REO lenders).

There were 483 homes in the La Jolla real estate market for sale at the end of October, about 5% below the September inventory; 56% of these are detached single family homes. This translates into an inventory of 11.3 months for detached homes (down from 13.1 last month), and 8.9 months for attached (up slightly from 8.9 months in September), based on the rate of sales over the last 6 months.

READ MORE:   How Important is Inventory when Buying or Selling? Very!!

80 homes entered the La Jolla real estate market in October, 13% fewer than in September, with 34 homes going pending, the same as in September.

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 the market conditions (the Village, Muirlands, La Jolla Shores, La Jolla Farms, Bird Rock, Mt. Soledad, Windansea) please let me know.

READ MORE:

La Jolla Homes for Sale | La Jolla Real Estate Market Report for September 2010

La Jolla Homes for Sale | La Jolla Real Estate Market Report for August 2010

La Jolla Homes for Sale | La Jolla Real Estate Market Report for July 2010

La Jolla Homes for Sale - La Jolla Real Estate Market for June 2010

La Jolla Real Estate - La Jolla Real Estate Market Report for May 2010

La Jolla Real Estate - La Jolla Real Estate Market Report for April 2010

  

Comments (7)

Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Jeff,

Great Post; Our visits to the La Jolla area have always been thoroughly enjoyable.  The value of the real estate is no surprise. 

Steve

Nov 16, 2010 02:56 AM
Mary Pope-Handy
Sereno Group Real Estate - Los Gatos, CA
CRS, CIPS, ABR, SRES, Silicon Valley

Very cool that sales are UP there.  They're off about 25% in most places!

Nov 16, 2010 04:50 AM
Jack Mossman - The Nines Team at Keller Williams in Lodi
The Nines Team at Keller Williams in Lodi - Lodi, CA
The Nines Team in Lodi

Jeff - those prices look like payments on the national debt!  Thanks for the update - and you are so right - a visit to La Jolla is worth the effort - and the creative energy has been around the "town center" since I used to visit the coffee houses .... a few years ago!

Nov 16, 2010 05:48 AM
Damon Gettier
Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert - Roanoke, VA
Broker/Owner ABRM, GRI, CDPE

Your detached is only about 10 times my market average right now......impressive.

Nov 16, 2010 06:08 AM
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Hi Jeff - Your DOM is very low - incredibly so.  I like the multiple links to all information a buyer or seller might want to know about your market.

Nov 16, 2010 11:07 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Steve and Joel - no, one look and you immediately know it costs. But if you can afford it, my sense is it's well worth it.

Mary - they do bounce around, though. Some communtiies up, others down. And it shfits from month to month in some cases.

Jack - yes indeed

Damon - well, yes. But you get so much more for the money. You can hardly find anything (detached) in La Jolla for under $1M.

Wendy - thanks. I think some folks like to see the trends. And yes, the DOM is not bad for a high end market. It does bounce around a bit month to month, though.

Jeff

Nov 16, 2010 01:08 PM
Dave Gubler
Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch - Lake Forest, CA
Realtor | Orange County

Jeff, aside from the solid market information about La Jolla I have so say (again!) what a beautiful shot of the beach that is.  Contents is king (as you well demonstrate) but some nice window-dressing really makes your blog appealing as well as informational.

Nov 17, 2010 12:14 PM