What's My La Jolla Home Worth?
La Jolla Real Estate Market April 2015
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 buying or selling a home in La Jolla. Despite the shift in prices, La Jolla remains an expensive housing 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 69 homes sell in April 2015, about the same as last month (1 more sold, up 1% 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 |
69 (up 1%) |
32 (down 9%) |
37 (up 6%) |
Average $ |
$1,321,731 (down 20%) |
$1,932,812 (down 25%) |
$793,229 (up 17%) |
DOM |
46 |
41 |
50 |
Sale $/List $ |
96% |
95% |
97% |
The overall volume of sales in the La Jolla real estate market increased slightly, but with fewer detached homes selling but more attached. Average sales prices decreased significantly for detached homes (in part due to the sale last month of 4 homes over $4M, 1 at $14.3M and 1 at $11.4 that raised last month’s average) but increased for attached homes. La Jolla buyers negotiated, on average, 3 - 5% off list price but with some homes selling at or more than asking. 31% of these transactions were cash. Average days on market declined slightly for both detached and attached homes in April.
7 La Jolla homes (2% of the total) had a contingent status at the end of April, 1 more than 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 291 La Jolla homes on the market at the end of April, an increase in inventory by 6% from March. This translates into an inventory of 6 months for detached homes (the same as last month), and 4 months for attached (up from 3.9 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 for attached homes and is a balanced/normal market for detached homes.
READ MORE:
How Important is Inventory when Buying or Selling? Very!!
107 homes entered the La Jolla real estate market in April, 33% fewer than last month, with 65 homes going pending, also a decrease, by 20%.
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:
What’s my La Jolla Home Worth? La Jolla Real Estate Market March 2015
Comments(7)