What's My La Jolla Home Worth? La Jolla Home Sales in December 2020

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

What's the Value of My La Jolla Home?

La Jolla Real Estate Market December 2020

 

La Jolla Cove in La Jolla California - home search linkThe La Jolla real estate market is one of the most expensive in San Diego County. If you take a virtual tour of La Jolla (see link below), or better yet visit in real life, you will understand why this is so.

 

As a buyer or seller, having up-to-date local market information about La Jolla homes for sale is essential so you can make educated decisions about buying or selling your home in La Jolla.

 

La Jolla is a beautiful coastal community with numerous homes offering amazing views of the ocean from the hills or shoreline, and a trendy, up-scale village offering the best in shopping and dining. La Jolla has been compared to the French and Italian Rivieras with impressive 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 83 homes sell in December 2020, 14% more than the number of sales last month, a contrast to some 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).

 

Single Family Homes Sold

45 (15% more); Average Sales Price $3,280,344 (up 10%); Average sales price was 94% of original asking price.

Condos, Townhomes & Duplexes Sold
38 (up 12%); 41 Average Days on Market; Average Sales Price $1,239,052 (down 4%); Average sales price was 96% of original asking price

 

The overall volume of sales in the La Jolla real estate market rose in December, and for single family home sales as well as condo, townhome and duplex sales.

 

The average sales price was higher for detached homes; this is due, in part, to the sale of 5 homes that sold at over $6M with 1 at $24.7M that raised the average. The average sales price of the condos, townhomes and duplexes was modestly lower than last month.

 

While La Jolla buyers negotiated, on average, 4 - 6% off the original list price, 1 out of 5 La Jolla buyers (20%) paid full price or more for their homes.

 

The median sales price of single family homes, $2,395,000, was 4% lower than last month, and was significantly lower (down 26%) for condo, townhomes and duplexes at $907,500.

 La Jolla oceanview homes

There was 1 La Jolla home with an Active Under Contract status at the end of December, compared to 3 last month (these homes are still considered active, but may not actually be accepting more offers or be available to tour).

 

There were 172 La Jolla homes on the market at the end of December (ranging in price from $369,000 to $26,000,000), 30% fewer than last month.

 

The current inventory is only 2.4 months for single family homes (down from 2.9 months last month), and 1.7 months for condos, townhomes and duplexes (down from 2.6 months last month), based on the rate of sales for the last 3 months. The La Jolla real estate market is a very strong sellers’ market for single family homes, and condos, townhomes and duplexes.

 

There were 54 new listings in December compared to 71 last month; 51 homes went pending (excluding those that closed escrow), also a decrease, by 12%, from last month. Despite the downward shifts it was still a fairly busy month for both buyers and sellers!

 

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 discuss your housing needs and the purchase of a La Jolla home in 2021, and to work with you to create an effective plan to sell your current home 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 November 2020

Comments (10)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Jeff,  great information from you in La Jolla homes and hope your phone is ringing.

 

Jan 21, 2021 08:55 PM
Jim Paulson
Progressive Realty (Boise Idaho) www.Progressive-Realty.info - Boise, ID
Owner,Broker

Great stats.  I like to keep abreast of what real estate is doing in California, since I have a lot of buyers moving to Boise, Idaho.

Jan 21, 2021 08:58 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff by the time you read my comment I am sure it is worth a few per cent more than in December, Endre

Jan 21, 2021 10:13 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Jeff Dowler, CRS -  I have stayed in La Jolla.  It certainly was an expensive night but beautiful.

Jan 22, 2021 03:54 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Oh my, I like the average sales price in La Jolla. It must be an incredible single family home market to sell in!

Jan 22, 2021 04:43 AM
Brad Thomsen
Big Bear Realty - Edmonds, WA
Real Estate Services

Hi Jeff Dowler, CRS 

It's all good.

Happy Selling!

Brad

Jan 22, 2021 04:59 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Jeff Dowler, CRS actually, I was expecting higher prices than that for La Jolla. But the market is busy for sure.

Jan 22, 2021 07:11 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thank you Will Hamm 

I've heard that Jim Paulson 

Could be Endre Barath, Jr. 

True on both counts Grant Schneider I visited on business years ago when I was in the HR world - I was totally impressed...and still am!

Jeff

Jan 22, 2021 01:47 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400  So true. There are some pretty impressive properties there.

Thank you Brad Thomsen 

It's certainly switched gears Rocky Dickerson  It was a pretty strong buyers' market some months ago.

Jeff

Jan 22, 2021 01:51 PM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

La Jolla home buyers and sellers are sure to value your real estate market report, Jeff.

Jan 24, 2021 02:32 PM

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