What's the Value of My La Jolla Home?
La Jolla Home Sales for April 2021
The La Jolla housing market is one of the more expensive in San Diego County. Whether you take a virtual tour of La Jolla (see link below), or visit in real life, it’s easy to see why this is the case.
As a La Jolla buyer or seller, having up-to-date local market information about La Jolla homes for sale is critical 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, accompanied by 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 an appealing year-round climate, attracting visitors, and buyers and sellers, from around the world.
There were 81 homes sold in the La Jolla real estate market April 2021, 29% more 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
40 (29% more); 28 Average Days on Market; Average Sales Price $3,196,033 (up 12%); Average sales price was 98% of original asking price.
Condos, Townhomes & Duplexes Sold
41 (28%); 27 Average Days on Market; Average Sales Price $976,378 (down 10%); Average sales price was 101% of original asking price
The overall volume of sales in the La Jolla real estate market rose sharply in April, and for single family home sales as well as condo, townhome and duplex sales. Sales prices ranged from $385,000 to $17,400,000.
Marketing time was shorter for single family homes, as well as for condos, townhomes and duplexes, averaging almost 1 month. But at the same time 42% of the homes went pending in 1 week or less. If you are planning to buy a La Jolla home consider that you smay need to be prepared to move quickly with your decisions.
The average sales price was higher for single family homes, but lower for condos, townhomes and duplexes.
While many La Jolla buyers negotiated the original list price down, half (51%) of the buyers paid the list price or more for their new homes, something esle to keep in mind as a La Jolla home buyer.
The median sales price of single family homes, $2,813,377, was 10% higher than last month, and was 2% higher for condo, townhomes and duplexes at $800,000.
There were no La Jolla homes with an Active Under Contract status at the end of April, versus 3 last month (these homes are still considered active, but may not actually be accepting more offers or be available to tour).
There were 129 La Jolla homes on the market at the end of April, ranging in price from $449,000 to $26,000,000, just 2 fewer listings than last month.
The current inventory in La Jolla is 2.6 months for single family homes (down from 2.9 months last month), and only 1.1 months for attached (down from 1.2 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 buyers of condos, townhomes and duplexes.
There were 88 new listings in April compared to 89 last month, which was good news for buyers, an average of 3 new listings on the market each day. 66 homes went pending (excluding those that closed escrow), the same number as in March. April was another busy month for buying and selling!
If you would like more detailed information about the La Jolla real estate market, or about specific residential areas and local market conditions (the Village, La Jolla Shores, La Jolla Farms, Bird Rock, Mt. Soledad, Windansea) please reach out to me at (760) 840-1360.
I’m happy to also discuss your specific housing needs, budget and interest in the purchase of a La Jolla home in 2021. I can also help you create an effective strategy to sell your current La Jolla home, based on a market and equity analysis, if that’s your plan.