What's My La Jolla Home Worth? La Jolla Home Sales in December 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 Report for December 2021

 

The housing market in La Jolla is one of the more expensive in San Diego County. If you take a virtual tour of La Jolla (see link below), or visit in person, you’ll see why.

 

As a La Jolla buyer or seller, having current local market information about La Jolla homes for sale is important in order to make informed 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 56 homes sold in the La Jolla real estate market December 2021, 2 more 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

26 (down by 2); 40 Average Days on Market; Average Sales Price $3,808,522 (down 7%); Average sales price was 98% of original asking price.

 

Condos, Townhomes & Duplexes Sold
30 (up by 4); 21 Average Days on Market; Average Sales Price $1,250,854 (down 2%); Average sales price was 104% of original asking price

 

The overall volume of sales in the La Jolla real estate market rose modestly in December, following several declines. There were fewer single family home sales, but several more condo, townhome and duplex sales. Sales prices ranged from $495,777 to $12,064,572.

 

Average marketing time was 5 days longer for single family homes (almost 6 weeks), and 9 days longer for condos, townhomes and duplexes than last month. However, at the same time a good number of homes, 46%, went pending in 1 week or less. The message here is that if you are planning on buying a La Jolla home you should be prepared to decide quickly on touring homes that are of interest, and make your offer promptly.

 

The average sales price for single family homes was lower than last month, no doubt in part due to the sale last month of 9 homes over $5M with one at $15,000,000 which raised November’s average significantly. The average price was slightly lower for condos, townhomes and duplexes.

 

A number of La Jolla buyers were able to negotiate their purchase prices. However, over half (57%) paid list price or more for their new homes, a good indicator of buyer competition.

 La Jolla oceanview homes on the hills

The median sales price of the single family homes, $3,225,000, was 9% higher than last month, and was 24% higher, at $1,118,000, for condos, townhomes and duplexes.

 

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

 

There were 71 La Jolla homes on the market at the end of December, ranging in price from $799,500 to $28,000,000. This is a decline in inventory by 16% from last month (85).

 

The current inventory in La Jolla is 1.9 months for single family homes (the same as last month), and 17 days for attached (down from 22 days last month), based on the rate of sales over the last 3 months. The La Jolla real estate market remains a very strong sellers’ market for single family homes, and is particularly competitive for buyers of condos, townhomes or duplexes, and became more so in December.

 

There were 39 new listings in December versus 49 last month, another decline, but not a surprise given the holidays. 36 homes went pending (excluding those homes that closed escrow), compared to 45 last month. Despite these shifts the December housing market was still fairly busy for buyers and sellers during the holidays!

 

If you would like to have more details 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 call or text me at (760) 840-1360. I’m happy to also discuss your specific housing needs and the purchase of a La Jolla home, and help you create an effective plan to sell your current home if that’s the goal.

 

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 2021

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (11)

Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

CA housing market is quite peculiar after the pandemic: the lack of inventory, low rates,  high competition among buyers, etc.  have been pushing prices up.

La Jolla is such a beautiful place to live, it is even more popular these days when so many people work remotely. 

Jan 11, 2022 06:41 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

That's all true Inna Ivchenko The La Jolla coastline IS beautiful in so many ways. It's a fun place to visit even if you can't afford to live there!

Jeff

Jan 11, 2022 07:48 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff loved the photo and it reminded me of when we lived in Marina Del Rey and when we traveled up the coast to San Francisco.... got me side tracked the detailed report was great too:)Endre

Jan 11, 2022 10:58 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Jeff. California pricing continues to astound me. But, beauty comes with a price. And, the better the view, the higher the price. Enjoy your day 

Jan 12, 2022 04:02 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Endre Barath, Jr. 

We've done the trip to SFO along the coast a couple of times - it's pretty special!

Jeff

Jan 12, 2022 08:17 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Wayne Martin 

Yep, prices just continue to escalate but I think at a slower pace.

Jeff

Jan 12, 2022 08:18 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Jeff Dowler, CRS - I have always gravitated toward the beaches of Southern California more so than the rest of the state.  Laguna and LaJolla are my favorites in SoCal.  I still remember enjoying Scripps Institute and all the tidepools during winter when the tide is lower.  I love this area. 

Jan 12, 2022 08:44 AM
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Wow, that is quite a rise in prices over the last week, especially for condos.  Thank you for the update.

Jan 12, 2022 10:34 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Sheri Sperry - MCNE® 

I love being near the beach and always have. But it certainly does impact pricing.

The La Jolla Cove area is beautiful, especially the pools. Thanks for stopping by.

Jeff

Jan 12, 2022 04:45 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Raymond Henson, eXp Realty  Very true. The average price for condos was clearly impacted by the sale of higher priced properties, with 4 of them selling at over $2M.

Thanks for stopping by.

Jeff

Jan 12, 2022 04:55 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Jeff Dowler, CRS  so agree with you and Diane loved the coastal route I wonder if they fixes it last time we could not go past Carmel... that was five years ago...Endre

Jan 12, 2022 11:20 PM