What's My La Jolla Home Worth? La Jolla Real Estate February 2018

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Real Estate Agent with Solutions Real Estate CalBRE License #01490977

What's the Value of My La Jolla Home?

La Jolla Home Sales for February 2018

 

La Jolla Cove in La JollaThe 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 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.

 

La Jolla, “(La Hoya in Spanish = The Jewel),” is a 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, and buyers, 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 46 homes sell in February 2018, up 24% from last month, following 3 months of inventory decline. 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

46 (up 24%), 40 Days on Market, Ave. Sales Price $1,253,874 (down 31%), Ave. sale, 97% of asking price

 

Detached Homes Sold

15 (down 12%), 73 Days on Market, Ave. Sales Price $2,001,600 (down 32%), Ave. sale 96% of asking price

 

Attached Homes Sold
31 (up 55%), 25 Days on Market, Ave. Sales Price $892,072 (up 2%), Ave. sale 98% of asking price

 

The overall volume of sales in the La Jolla real estate market increased substantially in February, with a decline in detached homes but a large increase in attached sales. Average sales prices decreased for detached home but increased, in average, for attached homes. 59% of the sales were cash transactions compared to 43% last month.

 

La Jolla buyers negotiated, on average, 2 - 4% off list price; however, 35% of the homes sold at or above asking price. Days on market decreased for both detached single family homes and attached homes.

 

The median sales price of detached homes decreased to $2,019,000 (down 26%), and to $643,000 for attached homes, down by 16%.

 

There were 2 La Jolla homes with a contingent status at the end of February, versus 1 the month before (these homes are still considered active, but typically are properties with 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).

 

Oceanview homes in La Jolla

 

There were 230 La Jolla homes on the market at the end of February, an increase by 8% from January, the 2nd consecutive inventory increase and good news for buyers. This translates into an inventory of 8 months for detached homes (up from 6.5 months from last month), and 3.6 months for attached (up from 3.3 months last month), based on the rate of sales over the last 3 months. The La Jolla real estate market remains a strong seller’s market for attached homes, but now is trending toward a buyers market for detached single family homes.

 

103 homes came on the La Jolla real estate market in February, a drop of 13% from the number of new listings in January; in contrast, 69 homes went pending (excluding those that closed escrow), an increase by 50% from last month, a trend we also saw in January.

 

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 local market conditions (La Jolla Village, Muirlands, La Jolla Shores, La Jolla Farms, Bird Rock, Mt. Soledad, Windansea) please give me a call at (760) 840-1360. I’m happy to also discuss your housing needs for the purchase of a La Jolla home, and to create an effective plan to sell your current property.

 

SEARCH FOR HOMES FOR SALE IN LA JOLLA CA

 

READ MORE:

What’s my La Jolla Home Worth? La Jolla Real Estate Market January 2018

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Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Mar 09, 2018 04:31 PM #1
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Very nice presentation, Jeff. I hope you have a great weekend? Are you seeing the grandkids?

Mar 09, 2018 06:32 PM #2
Rainmaker
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Joyce Marsh, Daytona Beach Florida
Premier Sotheby's International Realty - Daytona Beach, FL
Waterfront and Coastal Lifestyle Properties

Jeff, This is really great information to share with buyers and sellers about the current real estate market in LaJolla.Your market expertise would be very helpful to buyers and sellers looking to buy or sell in this beautiful coastal city. 

Mar 10, 2018 12:07 AM #3
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Thank you as always Gita Bantwal  for your kind words. Hope all is well!

Jeff

Mar 13, 2018 10:11 PM #4
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Jeff Dowler, CRS

The Southern California Relocation Dude - Carlsbad
What's my Carlsbad CA Area Home Worth??
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