La Jolla Homes for Sale - What Happened in the La Jolla Real Estate Market in April 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, 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
The La Jolla real estate market saw 77 homes sell in April 2013, a jump by 13% from March. 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 |
77 (up 13%) |
32 (no change) |
45 (up 25%) |
|
Average $ |
$1,177,701 (down 3%) |
$1,928,426 (up 3%) |
$643,852 (up 4%) |
|
DOM |
51 |
46 |
55 |
|
Sale $/List $ |
97% |
96% |
97% |
The overall volume of sales in the La Jolla real estate market rose modestly in April. Average sales prices increased for detached homes (in part due to the sale of 4 homes over $4 million) and attached homes. La Jolla buyers are negotiating, on average, 3 – 4% off list price. 38% of these transactions were cash.
16 La Jolla homes (7% of the total) had a contingent status at the end of April, down 1 from April (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 238 La Jolla homes on the market at the end of April, another drop, by 4% from last month. This translates into an inventory of 4.9 months for detached homes (the same as last month), and 2.8 months for attached (down from 3.2 months in March), based on the rate of sales over the last 6 months. The La Jolla real estate market remains tight for buyers, and is a seller’s market, in particular for attached homes/condos.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
124 homes entered the La Jolla real estate market in April,24% more than in March, with 83 homes going pending, also an increase, by 15%, 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 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 March 2013?
La Jolla Homes for Sale – What Happened in the La Jolla Real Estate Market in February 2013?
La Jolla Homes for Sale – What Happened in the La Jolla Real Estate Market in January 2013?
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