What's My La Jolla Home Worth? La Jolla Real Estate Market Oct. 2015

By
Real Estate Agent with eXp Realty of California, Inc. CA DRE #01490977

What's My La Jolla Home Worth?

La Jolla Real Estate Market October 2015

 

La Jolla homes and condos for sale, and Oceanfront homes for sale in La Jolla CAThe 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

 

The La Jolla real estate market saw 55 homes sell in October 2015, just 1 less than in September (down 2%). 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 HOMES SOLD

55 (down 2%), 53 Days on Market, Ave. Sales Price $1,515,810 (down 9%), Ave. sale 94% of asking price

Detached Homes Sold
23 (up 5%), 50 Days on Market, Ave. Sales Price $2,405,241 (down 6%), Ave. sale 94% of asking price

Attached Homes Sold
32 (down 6%), 56 Days on Market, Ave. Sales Price $876,531 (down 9%), Ave. sale 94% of asking price

 

La Jolla luxury homes for sale, and Oceanfront properties for sale in La Jolla CA

 

The overall volume of sales in the La Jolla real estate market shifted down slightly from September across the board, but with 2 fewer attached home sales and 1 more detached.

Average sales prices decreased modestly across the board. La Jolla buyers negotiated, on average, 6% off list price but with some homes selling at or above asking. 38% of these transactions were cash, as compared to 46% in September.

 

3 La Jolla homes (1% of the total) had a contingent status at the end of October, 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 October not actually be accepting more offers or be available to tour).

 

There were 319 La Jolla homes on the market at the end of October, down 6% from September. This translates into an inventory of 6.1 months for detached homes (down from 6.8 months from last month), and 3.4 months for attached (down from 3.6 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 currently reflects a balanced market for detached homes.

READ MORE: 

  How Important is Inventory when Buying or Selling? Very!!

 

119 homes entered the La Jolla real estate market in October, up 23% from September, with 59 homes going pending, an increase from last month 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

 

READ MORE:

What’s my La Jolla Home Worth? La Jolla Real Estate Market September 2015

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (2)

David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Thats just downright mean!

I know what its worth... more than I am willing to pay but there are plenty out there who are paying those high prices and enjoying one of the best places to live in the country

Nov 19, 2015 02:07 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

David Shamansky 

Ha ha. More than I am willing to pay, too. But I sure enjoy visiting when I can. It's always an intriguing market to watch

Jeff

Nov 19, 2015 04:48 AM