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

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Real Estate Agent with Solutions Real Estate CA DRE #01490977

What's the Value of My La Jolla Home?

La Jolla Home Sales for April 2018

 

La Jolla CoveThe 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 77 homes sell in April 2018, up 15% from last month, the 3rd substantial increase in sales, not a surprise given the spring market. 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

77 (up 15%), 38 Days on Market, Ave. Sales Price $1,728,815 (down 1%), Ave. sale, 98% of asking price

 

Detached Homes Sold

32 (down 9%), 50 Days on Market, Ave. Sales Price $2,742,554 (up 6%), Ave. sale 96% of asking price

 

Attached Homes Sold
45 (up 41%), 30 Days on Market, Ave. Sales Price $1,007,533 (up 21%), Ave. sale 99% of asking price

 

The overall volume of sales in the La Jolla real estate market increased substantially in April, due to increased sales of attached homes, while detached sales dropped by 3. Average sales prices increased for detached homes (no doubt the sale of 3 homes over $5M with 1 at $10M had a significant impact raising the average) and for attached homes. 36% of the sales were cash transactions compared to 59% last month.

 

La Jolla buyers negotiated, on average, 1 - 4% off list price; however, 32% 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 $2,388,750 (down 4%), and to $807,500 for attached homes, up 26%.

 

La Jolla Farms homes with ocean views

 

There were no La Jolla homes with a contingent status at the end of April, versus 3 last month (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).

 

There were 252 La Jolla homes on the market at the end of April, a modest decrease by 3% from March, following 3 consecutive inventory increases. This translates into an inventory of 6 months for detached homes (down from 8 months last month), and 2.4 months for attached (down from 3.4 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 is a balanced market for detached single family homes.

 

111 homes came on the La Jolla real estate market in April, a decrease of 17% over the number of new listings in March; in contrast, 80 homes went pending (excluding those that closed escrow), 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 local market conditions (the 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 for top dollar.

 

SEARCH FOR HOMES FOR SALE IN LA JOLLA CA

 

READ MORE:

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

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Rainmaker
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Jeff - La Jolla is one of the most upscale areas I have seen.  I am sure the values are soaring.

May 15, 2018 02:57 PM #1
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I am always interested in the one place in California I would love to live.

May 15, 2018 07:32 PM #2
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.

May 16, 2018 04:43 AM #3
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Grant Schneider 

Yes, La Jolla remains a pretty expensive housing market, although one can find condos and townhomes in much more moderate price ranges.

Jeff

May 16, 2018 12:47 PM #4
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Joe Pryor 

And maybe some day you will have the opportunity! Thanks for stopping by.

Jeff

May 16, 2018 12:49 PM #5
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

And thank you for stopping by to comment Gita Bantwal 

Have a great rest of the week!

Jeff

May 16, 2018 12:50 PM #6
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