What's the Value of My La Jolla Home?
La Jolla Real Estate Market January 2021
The 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 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 La Jolla home.
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 57 homes sell in January 2021, 31% fewer sales than 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).
Single Family Homes Sold
27 (40% fewer); 51 Average Days on Market; Average Sales Price $3,245,944 (down 1%); Average sales price was 98% of original asking price.
Condos, Townhomes & Duplexes Sold
30 (down 21%); 53 Average Days on Market; Average Sales Price $841,986 (down 32%); Average sales price was 97% of original asking price
The overall volume of sales in the La Jolla real estate market declined in January, and for single family home sales as well as condo, townhome and duplex sales. 1 condo was listed twice so the actual number of sales was 29.
The average sales price was slightly lower for detached homes (despite 9 sales over $3M with 1 at $20M). The average sales price of the condos, townhomes and duplexes was substantially lower than last month.
While La Jolla buyers negotiated, on average, 2 - 3% off the original list price, 19% of the La Jolla buyers paid full price or more for their homes.
The median sales price of single family homes, $2,495,000, was 4% higher than last month, and was significantly lower (down 23%) for condo, townhomes and duplexes at $907,500.
There was 1 La Jolla home with an Active Under Contract status at the end of January, the same as last month (these homes are still considered active, but may not actually be accepting more offers or be available to tour).
There were 155 La Jolla homes on the market at the end of January (ranging in price from $369,000 to $26,000,000), 10% fewer than last month.
The current inventory is 2.8 months for single family homes (up from 2.4 months last month), and only 1.5 months for attached (down from 1.7 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 even more competitive for condos, townhomes and duplexes.
There were 74 new listings in January compared to 54 last month which was some good news for home buyers; 62 homes went pending (excluding those that closed escrow), also an increase, by 22%, from last month. It was 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 also discuss your particular 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 that’s your plan.
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 2020
