What's My La Jolla Home Worth? La Jolla Real Estate Market March 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 Home Sales for March 2022

 

La Jolla Cove in La Jolla CAOn average, the La Jolla housing market is one of the most expensive in San Diego County. If you tour La Jolla online (see link below), or visit in person, you’ll understand 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 informed decisions about buying and/or selling your La Jolla home.

 

La Jolla is a beautiful seaside community with many 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 65 homes sold in the La Jolla real estate market March 2022, 48% more sales than last month. Here’s a summary 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
36 (up by 50%); 49 Average Days on Market; Average Sales Price $4,886,460 (up by 16%); Average sales price was 100% of original asking price.

Condos, Townhomes & Duplexes Sold
29 (up 38%); 8 Average Days on Market; Average Sales Price $1,353,639 (up 5%); Average sales price was 109% of original asking price

 

The overall volume of sales in the La Jolla real estate market rose markedly in March, following a decline in February sales. There were substantially more single family home sales, and condo, townhome and duplex sales. Sales prices ranged from $608,000 to $21,800,000.

 

Average marketing time was longer for single family homes, but declined for condos, townhomes and duplexes from last month. At the same time a good number of homes, 45%, went pending in 1 week or less, the same as last month. If you are planning on buying a La Jolla home you should be prepared to act quickly about seeing homes you like, and making your offer.

 

The average sales price for single family homes was higher than last month, in part due to the sale of 6 homes at over $8M each with 1 selling for $21,800,000. The average sales price was modestly higher for condos, townhomes and duplexes.

 

A number of La Jolla buyers were successful in negotiating their purchase prices. However, many (71%) paid list price or more for their new homes, a good indication of competition and multiple offers.

 

The median sales price of the single family homes, $3,725,000, was 2% higher than last month. The median price was 19% higher, at $1,194,000, for condos, townhomes and duplexes.

 

La Jolla homes with views in La Jolla CA

 

There was 1 La Jolla home with an Active Under Contract status at the end of March, the same as the last 5 months (when they occur these homes are considered active, but may not actually be accepting more offers or be available to tour).

 

There were 76 La Jolla homes on the market at the end of March, ranging in price from $525,000 to $49,000,000. This is a decrease in inventory by 8% from last month (83).

 

The current inventory in La Jolla is 1.6 months for single family homes (down from 2.1 months last month), and 1.2 months for attached (up from 1.1 months last month), based on the rate of sales for the last 3 months. The La Jolla real estate market continues to be a very strong sellers’ market for single family homes, and is particularly competitive for buyers of condos, townhomes and duplexes.

 

There were more new listings in March, 70, than last month (62). Similarly, 54 homes went pending (excluding those homes that closed escrow), up from 39 pendings last month! It was a fairly busy month for buyers and sellers.

 

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 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 February 2022

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (8)

Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Jeff,

LaJolla has always held a special place in my heart. Buyers and sellers would be lucky to have you help them find that perfect home.

Apr 12, 2022 02:07 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Sheri Sperry - MCNE® 

I suspect that feeling is true of many - it's a beautiful community.

Thanks for the kind words.

Jeff

Apr 12, 2022 04:29 PM
Jim Patton
Aspire Home Real Estate 209-404-0816 - Modesto, CA
Realtor - Stanislaus ,Merced, San Joaquin Counties

Great market information Jeff Dowler, CRS.  My wife and I spent a few days in the San Diego area last summer for A's baseball and the Zoo.  We loved the area and dined on lots of fish tacos. 

Apr 12, 2022 05:04 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thanks for stopping by Jim Patton  and for the kind words.

Glad you had a good time here. I've had plenty of fish tacos in my 17 years living here.

Jeff 

Apr 12, 2022 05:29 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.

Apr 12, 2022 08:19 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi @MyrlMyrl Jeffcoat 

Thank you kindly. La Jolla is a beautiful community - it's always a pleasure to show homes there.

Jeff

Apr 12, 2022 10:19 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Hi Jeff,
Thank you for sharing the La Jolla real estate information.
Buyers and sellers in your area will benefit from your expertise.
Wishing you continued success.
Bob

Apr 13, 2022 07:03 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Bob Crane 

Thank you for stopping by and for the kind words!

Jeff

Apr 14, 2022 05:30 PM