La Jolla Homes for Sale - What Happened in the La Jolla Real Estate Market in January 2014?
The La Jolla real estate market is one of the most expensive in San Diego County. A virtual visit to La Jolla (see links below), 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 48 homes sell in January 2014, a decrease of 8% from December sales. 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 |
48 (down 8%) |
24 (down 20%) |
24 (up 9%) |
|
Average $ |
$1,342,729 (down 38%) |
$2,035,958 (down 37%) |
$649,500 (down 5%) |
|
DOM |
65 |
49 |
81 |
|
Sale $/List $ |
94% |
94% (81-112%) |
94% |
The overall volume of sales in the La Jolla real estate market dropped modestly in January, with fewer detached home sales but more attached. Average sales prices decreased dramatically for detached homes (however this was in large part due to the sale of 5 homes over $5M, with one for cash at $16.5M, last month which had raised the average sale price substantially). La Jolla buyers are negotiating, on average, 6% off list price but with some homes selling for more than list price (up to 12%). 56% of these transactions were cash and 4% were short sales. The MEDIAN price for detached homes was $1,712,500 (down 23%) and $461,500 (down 22%) for attached homes/condos.
14 La Jolla homes (5% of the total) had a contingent status at the end of January, the same as last month (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 255 La Jolla homes on the market at the end of January, an increase in inventory, by 8%, from last month. This translates into an inventory of 4.8 months for detached homes (up from 4.7 months last month), and 3.6 months for attached (up from 3 months last month), based on the rate of sales over the last 6 months. The La Jolla real estate market remains a seller’s market, especially for attached homes/condos.
READ MORE: How Important is Inventory when Buying or Selling? Very!!
115 homes entered the La Jolla real estate market in January, more than twice the number in December (up 155%), with 42 homes going pending, also an increase, by 40%, 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.
SEARCH FOR HOMES FOR SALE IN LA JOLLA CA
SEARCH FOR HOMES FOR SALE IN BIRD ROCK, LA JOLLA CA
SEARCH FOR HOMES FOR SALE IN WINDANSEA, LA JOLLA CA
READ MORE:
La Jolla Homes for Sale – What Happened in the La Jolla Real Estate Market in December 2013?
La Jolla Homes for Sale – What Happened in the La Jolla Real Estate Market in November 2013?
La Jolla Homes for Sale – What Happened in the La Jolla Real Estate Market in October 2013?
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