La Jolla Homes for Sale | La Jolla Real Estate Market Report for January 2011

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

La Jolla Real Estate Market Report for January 2011

La Jolla homes for sale - La Jolla real estate market report for January 2011

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 30 homes sell in January 2011, 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

30 (down 30%)

16 (down 30%)

14 (down 30%)

Average $

$1,056,120 (down 25%)

$1,469,662 (Down 30%)

$583,500(down 8%)

DOM

93

81

107

Sale $/List $

 

94%

91%

98%

 

The volume of sales in the La Jolla real estate market decreased substantially over last month, as did average sales prices. Day of market also declined, although not significantly. These decline may be related to the holidays, since homes selling in January in most cases would have gone pending during November and December.

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

There were 413 homes in the La Jolla real estate market for sale at the end of January, about 2% more than in December;  53% of these are detached single family homes. This translates into an inventory of 10.2 months for detached homes (up from 9.9 last month), and 9.5months for attached (up from 9.1 months in December), based on the rate of sales over the last 6 months.

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

124 homes entered the La Jolla real estate market in December, more than 2.5 times as many as in December, likely related to the holiday period, with 43 homes going pending, 19% more than December, again most probably a post-holiday phenomenon.

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 December 2010

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

  

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Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

Hey Jeff, great job letting the folks in LaJolla know, in an easy to understand format, what's happening in their local Real Estate market. Well done my friend.

Feb 11, 2011 03:03 AM #1
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Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

You are so good with your market reports. I think that is a niche that I will never get into. I thought I would see you today at the lunch and learn, but I have some emergency parenting to do. Hope to see you soon.

Feb 11, 2011 03:59 AM #2
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Nevin Williams
Fairway Independent Mortgage Corporation - Cary, NC
Senior Mortgage Advisor

Jeff - La Jolla, a first time home buyer community......for those who make great incomes!   La Jolla is certainly one of San Diego's gems.  Nice job letting people know about real estate trends in the area.

Feb 11, 2011 06:08 AM #3
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