What's My La Jolla Home Worth?
La Jolla Real Estate Market July 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 that took place during the downturn, La Jolla remains an expensive housing market, particularly for ocean view and ocean front homes and estates.
La Jolla, “The Jewel,” is an extraordinarily beautiful coastal community with many properties 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 71 homes sell in July 2015, a drop by 7% from June. 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 |
71 (down 7%) |
25 (down 36%) |
46 (up 24%) |
Average $ |
$1,438,239 (down 4%) |
$2,351,621 (up 3%) |
$941,836 (up 46%) |
DOM |
67 |
66 |
67 |
Sale $/List $ |
95% |
93% |
96% |
The overall volume of sales in the La Jolla real estate market decreased from June, with a significant drop in detached home sale coupled with an increase in attached home sales. Average sales prices increased modestly for detached homes (in part fueled by the sale of 3 homes over $4M, with 1 at $6.6M) and significantly for attached homes (with 3 condos selling for over $2M). La Jolla buyers negotiated, on average, 4 - 7% off list price but with some homes selling at or more than asking. 46% of these transactions were cash compared to 41% in June.
6 La Jolla homes (2% of the total) had a contingent status at the end of July, 1 less 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 July not actually be accepting more offers or be available to tour).
There were 342 La Jolla homes on the market at the end of July, an increase in inventory by 10% from June, another increase. This translates into an inventory of 6.1 months for detached homes (down from 6.3 months for last month), and 3.8 months for attached (down from 4 months for 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 market for detached homes.
READ MORE:
How Important is Inventory when Buying or Selling? Very!!
124 homes entered the La Jolla real estate market in July, up 19% from June, with 70 homes going pending, an increase over last month by 9%.
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
READ MORE:
What’s my La Jolla Home Worth? La Jolla Real Estate Market June 2015
