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What's My La Jolla Home Worth? La Jolla Real Estate Market June 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 June 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 this is so.

 

As a La Jolla buyer or seller, having up-to-date local market information about La Jolla homes for sale will benefit you so you can make informed decisions about buying and/or selling your La Jolla home.

 

La Jolla is a beautiful beach 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

 

42 homes sold in the La Jolla real estate market in June, half the number of sales as 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
20 (down 46%); 19 Average Days on Market; Average Sales Price $4,584,818 (up 19%); Average sales price was 99% of original asking price.

Condos, Townhomes & Duplexes Sold
22 (down 52%); 16 Average Days on Market; Average Sales Price $1,140,909 (down 17%); Average sales price was 103% of original asking price

 

The overall volume of sales in the La Jolla real estate market dropped markedly from May, for condo, townhome and duplex sales and for single family homes. Sales prices ranged from $615,000 to $12,850,000.

 

Average time on the market was about the same for single family homes (under 3 weeks), but shorter for condos, townhomes and duplexes than last month. However, a good number of homes, 48%, went pending in 1 week or less. Buyers in La Jolla should be prepared to act quickly for touring homes, and making their offers.

 

The average sales price for single family homes was higher than last month (no doubt due, in part, to the sale of 5 homes over $6M, with 2 of those selling for more than $12M). The average sales price was lower for condos, townhomes and duplexes than in May.

 

La Jolla home with views

 

Many La Jolla buyers were successful in negotiating the prices of their new homes.  At the same time, however, 36% paid over list price for their new homes. Keep this in mind for your offer strategy.

 

The median sales price of the single family homes, $3,600,000, was 14% higher than last month. In contrast the median price was 15% lower, at $1,062,500, for condos, townhomes and duplexes.

 

There was 1 La Jolla home with an Active Under Contract status at the end of June, the same as 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 128 La Jolla homes on the market at the end of June, ranging in price from $595,000 to $49,000,000. This is a 41% increase in inventory from last month and good news for buyers.

 

The current inventory in La Jolla is 2.6 months for single family homes (up from 1.7 months last month), and 1.5 months for attached (up from 24 days 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 even more competitive for buyers of condos, townhomes and duplexes.

 

There were more new listings in June, 76, than last month (65). 24 homes went pending (excluding those homes that closed escrow), down from 32 pendings last month! It was still a fairly busy month for buyers and sellers.

 

If you would like more 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 call or text me at (760) 840-1360. We can also discuss your personal housing needs, budget, and the purchase of a La Jolla home. I can also help create a plan for selling 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 May 2022

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Comments (5)

Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Jeff Dowler, CRS - La Jolla is beautiful! It takes a special REALTOR to sell in this area and know the market. When it comes to business, you are seriously making a difference in your area. I wish you all the best. 

Jul 16, 2022 03:13 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

If I am not mistaken, isn't it the La Jolla area where we are having a meetup with Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets in September?

Jul 16, 2022 05:19 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Jeff,

La Jolla is a spectacular area and you know it like the back of your hand. It's not a wonder buyers and sellers call you for representation. Such valuable market knowledge you share!

 

Jul 16, 2022 05:28 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Brian England we are in Mission Bay Park, just 10 minutes Southeast of La Jolla, but my primary home is in UTC La La Jolla, so you might be mixing them up. Either hood is good though LOL.

Jul 16, 2022 07:31 AM
Brian England

Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets you are right, I got them mixed up, but nonetheless, I am excited to meet you and have others join us for lunch in September!

Jul 16, 2022 07:36 AM
Jeff Dowler, CRS

Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets 


I'm flexible - both sound like good options.

Jul 16, 2022 10:06 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets

Me too Brian England in fact I have been torn between just hosting a "Pizza Party" for you guys at the house vs. showing off one of my favorite restaurants just a few blocks away. The restaurant would offer more of a variety, but the pizza allows us to meet and hang out at one stop vs. two. Thoughts Jeff Dowler, CRS and Brian?

Jul 16, 2022 07:41 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Jul 19, 2022 11:52 AM