What's My La Jolla Home Worth? La Jolla Home Sales for January 2019

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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 Real Estate Market January 2019

 

La Jolla Cove in La Jolla CAThe La Jolla real estate market is one of the most expensive in San Diego County. If you take a virtual visit to La Jolla (see link below), or in real life, you will quickly see why this is so.

 

Having up-to-date local information about La Jolla homes for sale is essential in order to 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 or shoreline, 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 34 homes sell in January 2019, a modest decrease in sales by 15% from last month, 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).

 

Detached Homes Sold

16 (down 20%), 73 Days on Market, Ave. Sales Price $2,612,128 (down 21%), Ave. sale 89% of asking price

 

Attached Homes (condos, town homes) Sold
18 (down 10%), 47 Days on Market, Ave. Sales Price $898,486 (down 22%), Ave. sale 96% of asking price

 

The volume of sales in the La Jolla real estate market dropped modestly from last month for both detached single family home sales and attached home sales. Average sales price decreased for detached homes (likely the result of the sale of 2 homes last month selling for over $5M – 1 at $13.6M – that raised the average substantially) as well as for attached homes (the sale at $5.25M last month clearly impacted the overall average price decrease in January). 32% of the sales were cash transactions compared to 45% in December.

 

La Jolla buyers negotiated, on average, 4 - 11% off list price; however, 15% of the La Jolla buyers paid full price or more for their homes. Days on market rose for detached single family homes but decreased for attached homes.

 

The median sales price of detached homes decreased to $2,075,000 (down 11%), and to $801,500 for attached homes (up 8%).

 

There was 1 La Jolla home with a contingent status at the end of January, like last month (these homes are still considered active, but typically are properties with offers being reviewed by either the short sale or REO lenders and may not actually be accepting more offers or be available to tour; some contingent homes are first right of refusals); this home is a first right of refusal due to a contingent offer.

 

Oceanview homes in La Jolla CA

 

There were 255 La Jolla homes on the market at the end of January, a slight increase by 2% from December, and substantially more homes for sale than in January of 2018. This translates to an inventory of 8.3 months for detached homes (up from 6.3 months last month), and 4.6 months for attached (up from 3.9 months last month), based on the rate of sales over the last 3 months. The La Jolla real estate market remains a seller’s market for attached homes, but is now a market that favors buyers for detached single family homes.

 

102 homes came on the La Jolla real estate market in January, more than double the number of new listings in December, and good news for home buyers; 32 homes went pending (excluding those that closed escrow), an increase of 14% 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 December 2018

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Rainmaker
1,826,319
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Jeff - the small numbers can throw the averages in this very luxurious area.

Feb 19, 2019 09:18 PM #1
Rainmaker
3,150,920
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Yes the numbers are down when fewer sales dominate the news, I guess it is time for me to do a couple similar reports like yours Jeff.

Feb 19, 2019 11:47 PM #2
Rainmaker
4,796,409
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Jeff.  Thanks for keeping us informed about the real estate market in La Jolla.

Feb 20, 2019 04:41 AM #3
Rainmaker
3,133,284
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. The numbers in California continue to captivate my attention. WOW! Enjoy your day!

Feb 20, 2019 05:48 AM #4
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Happens all the time Grant Schneider . Lots of extremes in La Jolla from $400K condos to homes in the 8 figures.

Jeff

Feb 20, 2019 06:57 AM #5
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

I bet you see even more dramatic prices in your area Endre Barath, Jr.  I always enjoy your market reports!!

Jeff

Feb 20, 2019 06:59 AM #6
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Thanks for stopping by Gabe Sanders 

They are pretty impressive, aren't they Wayne Martin ?!

Jeff

Feb 20, 2019 07:01 AM #7
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I always enjoy your La Jolla posts. If I lived in California this is the only place I would want to be.

Feb 20, 2019 07:52 AM #8
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