What's My La Jolla Home Worth? La Jolla Real Estate Market March 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 Home Sales for March 2019

 

La Jolla Cove in La JollaThe 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 54 home sales in March 2019, up substantially, by 63%, from last month. 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

27 (up 50%), 60 Days on Market, Average Sales Price $2,373,342 (up 7%), Average sale 94% of original asking price

 

Attached Homes (condos, town homes) Sold
27 (up 80%), 46 Days on Market, Average Sales Price $882,629 (down 21%), Average sale 96% of original asking price

 

The volume of sales in the La Jolla real estate market rose considerably for both detached single family home and attached home sales over last month. Average sales price increased for detached homes (with the sale of 4 homes over $4M) but declined for attached homes (the sale of 1 home at over $4M last month clearly impacted the overall higher average price in February). 39% of the sales were cash transactions, the same as last month.

 

La Jolla Farms homes for sale

 

While La Jolla buyers negotiated, on average, 3 - 6% off list price, 30% 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 $2,025,000 (down 1%), but increased to $761,000 for attached homes (up 16%).

 

There were 2 La Jolla homes with a contingent status at the end of March, versus 3 in February (these homes are still considered active, but may not actually be accepting more offers or be available to tour). 1 is a first right of refusal, the other 1 requires 3rd party approval.

 

There were 270 La Jolla homes on the market at the end of March, an increase, by 3%, from February, and another improvement in inventory, and more homes available for buyers than in March of 2018. This translates to an inventory of 8.5 months for detached homes (down from 9.7 months last month), and 5.2 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 seller’s market for attached homes, but is trending toward a balanced market, and is a market that favors buyers for detached single family homes.

 

Sea Lions at La Jolla Cove

 

120 homes came on the La Jolla real estate market in March, 30% more new listings than in February and good news for buyers; similarly, 46 homes went pending (excluding those that closed escrow), another increase, by 46%, from last month’s pendings and a good indication of the active market in La Jolla!

 

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 February 2019

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Rainmaker
3,178,234
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff one of my favorite towns along the coast is La Jolla, when Diane and I moved here 22+ years ago from Boston, MA we used to go down to Coronado Island and we always stopped in La Jolla for lunch... I got a license plate holder on the main street in town... it was about Del Mare the race track but I had no idea:)) Endre

Apr 13, 2019 08:52 PM #1
Rainmaker
1,964,191
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Jeff Dowler, CRS - Your post brought back many fond memories for me visiting my daughter when she taught school in LaJolla. I loved that first photograph! I also liked the sea otters too! We went to there a lot to see them sunbathing. 

You live and sell real estate in a beautiful location. That coastline is so relaxing and peaceful. 

Apr 14, 2019 05:19 AM #2
Rainmaker
1,158,273
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

HI Jeff Dowler, CRS - Like Patricia Feager, MBA, CRS, GRI,MRP - I have many fond memories of visiting LaJolla.  We would spend time at the beach and the tide pools and wonder the trendy shops in town. We visited Scripps Institute a couple of times as well. It is one of the most beautiful areas in the San Diego area and you are the agent to contact for all real estate matters. 

Apr 14, 2019 07:12 AM #3
Rainmaker
1,851,898
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Jeff - yes indeed La Jolla is a jewell.  Luxury location.

Apr 14, 2019 12:20 PM #4
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

It IS a beautiful town and coastline Endre Barath, Jr. and there's a lot to see and explore. So you have a "Where the Turf Meets the Surf" license plate holder?!

Jeff

Apr 15, 2019 12:28 PM #5
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Patricia Feager, MBA, CRS, GRI,MRP 

La Jolla is a special place and we, too, have enjoyed visiting La Jolla Cove and taking visitors and family there. It's a beautiful coastal community. How wonderful that this brought back nice memories for you!

Jeff

Apr 15, 2019 09:22 PM #6
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Sheri Sperry - MCNE® 

La Jolla is impressive in many ways, and fun to visit, dine, shop and just play tourist. Thanks for the kind words.

Jeff

Apr 15, 2019 09:29 PM #7
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Grant:

Yes, it is indeed a special place to visit, and a pricey one to live in. Interestingly there are multi-million dollar homes as well as condos priced in the $300s and $400s!

Jeff

Apr 15, 2019 09:37 PM #8
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