La Jolla Real Estate Market Report for December 2010

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

La Jolla Real Estate Market Report for December 2010

La Jolla Real Estate Market Report for December 2010

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 43 homes sell in December 2010, 29% fewer 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

43 (up 23%)

23 (up 21%)

20 (up 25%)

Average $

$1,415,413 (down 2%)

$2,096,772 (up 23%)

$631,850 (down 46%)

DOM

100

89

113

Sale $/List $

 

89%

84%

95%

 

The volume of sales in the La Jolla real estate market increased substantially over last month, while average sales prices rose fairly significantly for detached homes, but declined for attached.

24 La Jolla homes (6% of the total) had a contingent status at the end of December (these homes are still considered active, but have offers that are being considered by either the short sale or REO lenders).

There were 403 homes in the La Jolla real estate market for sale at the end of December, about 6% below the October inventory, the 3rd month of decline, but a pattern we have seen in other communities; 53% of these are detached single family homes. This translates into an inventory of 9.9 months for detached homes (down from 10.1 last month), and 9.1months for attached (up from 8.7 months in November), based on the rate of sales over the last 6 months.

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

48 homes entered the La Jolla real estate market in December, 30% fewer than in November, with 36 homes going pending, 8% fewer than November.

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 November 2010

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

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

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Rainmaker
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Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

You live in an amazingly beautiful area!    Interesting stats report...although my area is quite "unlike", it is, nevertheless, a resort-based/secondary home marketplace, and your stats are seemingly mirrored, here.

Jan 13, 2011 05:53 AM #1
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
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Sea to Sky - well I won't disagree wtih you. INteresting that the trends are similar!

Jeff

Feb 11, 2011 03:47 AM #2
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