What's My La Jolla Home Worth? La Jolla Home Sales for January 2020

By
Real Estate Agent with eXp Realty of California CA DRE #01490977

What's the Value of My La Jolla Home?

La Jolla Real Estate Market January 2020

 

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 so you can make informed decisions about buying or selling your home in La Jolla.

 

La Jolla 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, spectacular 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 41 home sales in January 2020, a substantial decrease by 29% from December, a trend seen in other nearby communities. 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

23 (down 4%), 70 Days on Market, Average Sales Price $2,936,808 (up 25%), Average sale was 96% of original asking price

 

Attached Homes (condos, town homes) Sold
18 (down 45%), 53 Days on Market, Average Sales Price $824,361 (down 14%), Average sale was 95% of original asking price

 

The overall volume of sales in the La Jolla real estate market dropped substantially, and for both single family detached homes and attached homes, but especially the latter. The average sales price was markedly higher for detached homes no doubt due to the sale of 5 homes over $3M with one selling at $15,250,000; in contrast the average sales price of the attached homes dropped from last month. 34% of the sales were cash transactions, versus 33% last month.

 

While La Jolla buyers negotiated, on average, 4 - 5% off the original list price, 20% of the La Jolla buyers paid full price or more for their homes. The time on the market was longer for detached single family homes, but about the same for attached homes compared to December.

 

The median sales price of detached homes increased to $1,935,000 (up 3%), but declined for attached homes to $747,500 (down 14% from last month).

 

There were 3 La Jolla homes with a contingent status at the end of January, the same as in December (these homes are still considered active, but may not actually be accepting more offers or be available to tour). 2 are first right of refusals and 1 is a short sale.

 

La Jolla ocean view homes

 

There were 229 La Jolla homes on the market at the end of January (ranging in price from $415,000 to $37,000,000), a decrease by 14% from December; this is the 5th decline, and a trend we saw in other communities in North San Diego County for January. The total number of active listings for detached homes is a little misleading – 1 home (at $37M) is listed 3 times due to a co-listing and the opportunity to purchase all 3 lots or just 1 with the main house; 3 other luxury homes are each listed twice apparently due to co-listings with other brokerages…not unusual with luxury homes.

 

This translates to an inventory of 6 months for detached homes (up from 5 months last month), and 3.6 months for attached (up from 2.6 months last month), based on the rate of sales for the last 3 months. The La Jolla real estate market remains a strong seller’s market for attached homes, but has shifted back to a balanced market for detached single family homes.

 

93 new listings came on the market in January, more than double the number of new listing last month (44); 46 homes went pending (excluding those that closed escrow), also an increase, by 24% 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 and the purchase of a La Jolla home, and to create an effective plan to sell your current property if needed.

 

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 2019

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
California San Diego County La Jolla
Groups:
CALIFORNIA REAL ESTATE
Market Updates
Local Expert
Market Reports
HyperLocal Neighborhood and Community Posts
Tags:
la jolla oceanfront homes for sale
oceanfront homes for sale in la jolla
la jolla homes with ocean views for sale
vacation homes for sale in la jolla

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
107,429
Joseph Doohan
Joseph Doohan - Las Vegas, NV
I offer business strategy advice for realtors

Your market report is extremely helpful. Thanks for sharing this with us. Enjoy the rest of your weekend and hope you have a great week ahead!

Feb 15, 2020 02:15 PM #1
Rainmaker
2,148,666
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Love the color blue in your photographs, Jeff! Those are great views too!

LaJolla may be expensive but it would seem to me some of the happiest people settle here for many different reasons. 

Buyers and Sellers are in excellent hands when they hire Jeff Dowler, CRS for all their real estate wants and desires. 

Feb 16, 2020 02:59 AM #2
Rainmaker
2,093,574
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Jeff Dowler, CRS - the closest I ever came to this beautiful real estate is when when we stayed at a spot on the water in 1996.  I wonder how much that place has appreciated since.

Feb 16, 2020 04:33 AM #3
Rainmaker
1,341,558
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Jeff Dowler, CRS - LaJolla has always been one of the elite coastal areas of California. One of my favorite spots to enjoy the tide pools this time of year. I know your clients are in good hands if they decide to buy in LaJolla. 

Feb 16, 2020 08:10 AM #4
Rainmaker
2,685,031
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

La Jolla home buyers and sellers are certain to find this real etate market information valuable, Jeff.

Feb 16, 2020 09:08 AM #5
Rainmaker
5,690,829
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Prospective home sellers will be in very good hands when they seek your professional real estate advice.

Feb 17, 2020 06:46 AM #6
Rainmaker
3,299,603
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Jeff, La Jolla Real Estate may be expensive, but it must put many smiles on the faces of those lucky enough to live there!

Feb 18, 2020 04:22 AM #7
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
4,169,065

Jeff Dowler, CRS

The Southern California Relocation Dude
What's my Carlsbad CA Area Home Worth??
*
*
*
*
Spam prevention

Additional Information