What's My La Jolla Home Worth? La Jolla Home Sales for October 2021

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 October 2021

 

La Jolla Cove in La Jolla CaliforniaThe La Jolla housing market is one of the more expensive in San Diego County. If you take a virtual tour of La Jolla (see link below), or visit the community in person, you’ll easily 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 important in order to make educated decisions about buying and/or selling your La Jolla home.

 

La Jolla is a beautiful seaside community with abundant homes offering amazing views of the ocean from the hills or shoreline, along with a trendy, up-scale village offering the best in shopping, dining and services. 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, from around the world.

 

READ MORE:

La Jolla Real Estate – A Jewel on the San Diego Coastline

 

There were 59 homes sold in the La Jolla real estate market October 2021, 21% fewer sales than last month. Here’s an overview 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 compiled but are not guaranteed).

 

Single Family Homes Sold

35 (up by 1); 28 Average Days on Market; Average Sales Price $4,261,750 (up 44%); Average sales price was 97% of original asking price.

Condos, Townhomes & Duplexes Sold
24 (down 41%); 10 Average Days on Market; Average Sales Price $1,135,901 (up 2%); Average sales price was 104% of original asking price

 

The overall volume of sales in the La Jolla real estate market dropped fairly substantially in October, another decline. There was 1 more single family home sale, but significantly fewer condo, townhome and duplex sales. Sales prices ranged from $425,000 to $21,750,000.

 

Average marketing time was longer for single family homes (about 1 month), but shorter for condos, townhomes and duplexes than last month. At the same time, a good percentage of the homes, 42%, went pending in 1 week or less (about the same as in September). If you are planning on buying a La Jolla home you should be prepared to decide quickly on touring homes that interest you and making an offer.

 

The average sales price for single family homes was substantially higher than last month, no doubt in part due to the sale of 3 homes over $17M with one at $21,750,000 which raised the average significantly. The average price was only slightly higher for condos, townhomes and duplexes.

 

While plenty of La Jolla buyers were able to negotiate their purchase price, 53% of them ended up paying asking price or more for their new homes, a good indicator of buyer competition.

 

The median sales price of the single family homes, $2,400,000, was 14% lower than last month, but was 20% higher, at $909,500, for condos, townhomes and duplexes.

 

La Jolla homes with ocean views

 

There was 1 La Jolla home with an Active Under Contract status at the end of October, compared to 2 last month (when they occur these homes are considered active, but may not actually be accepting more offers or be available to tour).

 

There were 108 La Jolla homes on the market at the end of October, ranging in price from $545,000 to $28,000,000, about the same as last month (109), which is good news for home buyers.

 

The current inventory in La Jolla is 2.1 months for single family homes (down from 2.4 months last month), and 27 days for attached (up from 16 days last month), based on the rate of sales for the last 3 months. The La Jolla real estate market remains a very strong sellers’ market for single family homes, and is especially competitive for buyers wanting condos, townhomes or duplexes.

 

There were 67 new listings in October compared to 70 last month, an average of 2 new listings hitting the market each day. 43 homes went pending (excluding those homes that closed escrow), compared to 52 last month. But the October market was still busy for buyers and sellers!

 

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 and the purchase of a La Jolla home, and also help you create an effective strategy 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 September 2021

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (9)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Nov 21, 2021 02:57 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

La Jolla buyers ands ellers should call you if they need help - you know the market!

Nov 21, 2021 04:52 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

I'm sure its BIG money, call Jeff for sure! Have a wonderful Sunday, watch a little Football, but most important relax.  New (short) week starts tomorrow. bill

Nov 21, 2021 05:10 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Jeff Dowler, CRS - it has been a very long time since I drove through La Jolla. I always loved the name La Jolla and my memories of it are still good. May your business continue to prosper and I wish you and your family a very happy Thanksgiving. 

Nov 21, 2021 05:52 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thank you for the kind words Myrl Jeffcoat 

What a nice thing to say Kat Palmiotti . Thank you!

Jeff

Nov 21, 2021 09:47 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Bill Salvatore - YVP Blog - yep, it's an expensive place to live but beautiful.

Looking forward to the holiday - should be a buy week with family around.

Jeff

Nov 21, 2021 09:50 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Patricia Feager, MBA, CRS, GRI,MRP Thanks for stopping by!!

La Jolla IS a wonderful place to visit. I remember a visit there many years ago when I was out here on business.

Have a wonderful holiday!

Jeff

Nov 21, 2021 09:52 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Jeff Dowler, CRS - When I first started dating my husband, we would go to LaJolla and San Diego a lot.  Lots of good memories there.  It has always been one of my favorite communities.

Nov 21, 2021 02:48 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

What a nice way to remember La Jolla Sheri Sperry - MCNE® 

It's a special place for sure.

Jeff

Nov 21, 2021 08:06 PM