La Jolla Homes for Sale - What Happened in the La Jolla Real Estate Market in January 2013?
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.
Having current, local information about La Jolla homes for sale is essential so you can make informed decisions about your home buying and selling in La Jolla. Despite the shift in prices, La Jolla remains an expensive real estate market, particularly for ocean view and ocean front homes.
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, 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 from the hills, amazing homes with 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
The La Jolla real estate market saw 36 homes sell in January 2013, a significant drop of 46% from December. 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 |
DETACHED |
ATTACHED |
|
# SOLD |
36 (down 46%) |
14 (down 59%) |
22 (down 33%) |
|
Average $ |
$984,344 (down 37%) |
$1,259,315 (down 49%) |
$809,362 (up 28%) |
|
DOM |
75 |
89 |
66 |
|
Sale $/List $ |
94% |
94% |
95% |
The overall volume of sales in the La Jolla real estate market dropped markedly in January. Average sales prices decreased significantly for detached homes (due to the sale of 5 homes over $5 million last month that had raised the average substantially) but rose for attached homes.
24 La Jolla homes (9% of the total) had a contingent status at the end of January, the same as in December (these homes are still considered active, but have 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 260 La Jolla homes on the market at the end of January, a jump by 8% from December. This translates into an inventory of 4.7 months for detached homes (up from 4.2 last month), and 3.7 months for attached (up from 3.2 months in December), based on the rate of sales over the last 6 months. The La Jolla real estate market remains tight for buyers, and favors sellers.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
122 homes entered the La Jolla real estate market in January, over twice the number listed in December, with 53 homes going pending, also double the number in December.
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.
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READ MORE:
La Jolla Homes for Sale – What Happened in the La Jolla Real Estate Market in December 2012?
La Jolla Homes for Sale – What Happened in the La Jolla Real Estate Market in November 2012?
La Jolla Homes for Sale – What Happened in the La Jolla Real Estate Market in October 2012?
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