What's My La Jolla Home Worth? La Jolla Home Sales for January 2022

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 January 2022

 

La Jolla Cove in La Jolla CAThe housing market in La Jolla is one of the most expensive in San Diego County. If you take an online 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 essential 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 51 homes sold in the La Jolla real estate market January 2022, 9% fewer sales than last month. Here’s an overview of the housing 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

30 (up 15%); 31 Average Days on Market; Average Sales Price $4,079,873 (up by 7%); Average sales price was 105% of original asking price.

Condos, Townhomes & Duplexes Sold
21 (down by 30%); 41 Average Days on Market; Average Sales Price $1,665,238 (up by 33%); Average sales price was 102% of original asking price

 

The overall volume of sales in the La Jolla real estate market dropped modestly in January, following the increase in sales in December. There were more single family home sales, but significantly fewer condo, townhome and duplex sales. Sales prices ranged from $420,000 to $12,257,375.

 

Average marketing time dropped to about a month for single family homes, but was significantly longer (41 days) for condos, townhomes and duplexes than last month. At the same time, however, a good number of homes, 43%, went pending in 1 week or less. If you are planning on buying a home in La Jolla you should be prepared to decide quickly about touring homes you like, and make your offer promptly. Even then there are no guarantees that acting quickly will lead to success.

 

The average sales price for single family homes was higher than last month, in part due to the sale of 6 homes at over $6M each. The average sales price was also higher for condos, townhomes and duplexes.

 

La Jolla homes

 

Plenty of La Jolla buyers negotiated their purchase prices.  At the same time, however, over half (61%) paid list price or more for their new homes, a good indication of the competition.

 

The median sales price of the single family homes, $3,180,000, was 1% lower than last month. The median price was 23% higher, at $1,370,000, for condos, townhomes and duplexes.

 

There was 1 La Jolla home with an Active Under Contract status at the end of January, the same as the last 3 months (when they occur these homes are considered active, but may not actually be accepting more offers or be available to tour).

 

There were 75 La Jolla homes on the market at the end of January, ranging in price from $609,500 to $55,000,000. This is a modest increase in inventory by 6% from last month (at 71).

 

The current inventory in La Jolla is 2 months for single family homes (up from 1.9 months last month), and 19 days for attached (up from 17 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 particularly competitive for buyers of condos, townhomes and duplexes.

 

There were twice as many new listings in January, 78, as last month (38), which is good news for buyers. Similarly, 45 homes went pending (excluding those homes that closed escrow), compared to 36 last month. The January housing market was busier for buyers and sellers than December!

 

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. We can also discuss your specific housing needs, budget, and the purchase of a La Jolla home. I can also help you develop a strategy to sell your current home if that’s your 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 December 2021

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (7)

Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

That is an exploding market when homes in the 7-figure range are selling over asking

Feb 15, 2022 02:42 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Ed Silva 

It's become pretty common there, and in other high-end communities as well.

Jeff

Feb 15, 2022 04:15 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Feb 15, 2022 10:17 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Jeff - those are really big prices and houses for the rich and famous.

Feb 16, 2022 03:08 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

La Jolla sounds like such a wonderful place to call home but at those price levels, visiting from time to time is the only thing I see as part of my future, haha.

Feb 16, 2022 06:00 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Grant Schneider - La Jolla certainly requires some pretty deep pockets to live there.

Thank you Myrl Jeffcoat 

Brian England  - nothing wrong with just visiting La Jolla. It's a beautiful place and lots of people visit throughout the year.

Jeff

Feb 16, 2022 09:29 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jeff, thanks for sharing the La Jolla market report, and haven't been there in several years, but your photos are fabulous.

Feb 22, 2022 06:05 AM