What's My La Jolla Home Worth? La Jolla Real Estate Market July 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 Homes for Sale for August 2018

 

La Jolla Cove 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 link 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 has been 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

 

The La Jolla real estate market saw 64 homes sell in August 2018, a decrease in sales by 14% from last month, and the second 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

64 (down 14%), 43 Days on Market, Ave. Sales Price $1,663,510 (down 2%), Ave. sale 95% of asking price

 

Detached Homes Sold

24 (down 23%), 53 Days on Market, Ave. Sales Price $2,911,688 (up 17%), Ave. sale 93% of asking price

 

Attached Homes (condos, town homes) Sold
40 (down 7%), 37 Days on Market, Ave. Sales Price $868,323 (down 19%), Ave. sale 97% of asking price

 

The overall volume of sales in the La Jolla real estate market dropped fairly significantly from last month, especially for detached homes, and was the second consecutive decline in sales. Average sales prices increased for detached homes, but dropped for attached homes. 30% of the sales were cash transactions compared to 35% last month.

 

La Jolla buyers negotiated, on average, 3 - 7% off list price; however, 25% of the homes sold at or above asking price. Days on market decreased for both detached single family homes and attached homes, but especially for detached.

 

La Jolla oceanview homes

 

The median sales price of detached homes decreased to $2,030,000 (up 8%), but increased to $654,500 for attached homes (down by 18%).

 

There were 2 La Jolla homes with a contingent status at the end of August, compared to none for the last 4 months (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 299 La Jolla homes on the market at the end of August, an increase by 4% from July, yet another improvement. This translates to an inventory of 6.7 months for detached homes (up from 5.9 months last month), and 1.9 months for attached (the same as last month), based on the rate of sales over the last 3 months. The La Jolla real estate market remains a very strong seller’s market for attached homes, and has become a balanced market for detached single family homes.

 

107 homes came on the La Jolla real estate market in August, just 2 more than the number of new listings in June; 58 homes went pending (excluding those that closed escrow), a modest shift up by 7%, from last month’s pendings.

 

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.

 

SEARCH FOR HOMES FOR SALE IN LA JOLLA CA

 

READ MORE:

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

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Rainmaker
933,392
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Jeff Dowler, CRS - La Jolla holds a special place in my heart. It is an area my husband and I would come to snorkel and check out the tidepools before enjoying a walk or dinner in town. I used to recommend going to Scripps Institute to enjoy the interactive exhibits. ....very fond memories!

Sep 14, 2018 07:50 AM #1
Rainmaker
1,049,804
Carol Williams
U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business. - Wenatchee, WA
"Customized Mentoring & Marketing Services"

Wow, Jeff. Those prices boggle my mind.  I live in little 'ol Wenatchee, though, where the median price is around $325,000.  

Sep 14, 2018 11:36 AM #2
Rainmaker
4,148,317
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 

Sep 14, 2018 03:27 PM #3
Rainmaker
768,975
Valeria Mola
SIB REALTY - Sunny Isles Beach, FL
305-607-0709 SIB Realty

What a great post and amazing pictures, 

Jeff Dowler, CRS 

Something to learn from you. 

Great weekend to all. 

V.

Sep 15, 2018 05:40 PM #4
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