What's the Value of My La Jolla Home?
La Jolla Home Sales for November 2022
The La Jolla real estate market is one of the more expensive in San Diego County, on average. If you tour La Jolla online (see link below), or visit in person, it becomes apparent why this is so.
As a La Jolla buyer or seller, having up-to-date local market information about La Jolla homes for sale benefits you and will help you 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.
La Jolla Real Estate – A Jewel on the San Diego Coastline
31 homes sold in the La Jolla real estate market in November, 28% fewer sales than last month. Here’s a summary of the market activity (these MLS 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
16 (no change); 60 Average Days on Market; Average Sales Price was $4,265,237 (down 5%); Average sales price was 89% of original asking price.
Condos, Townhomes & Duplexes Sold
15 (down 44%); 24 Average Days on Market; Average Sales Price was $1,098,469 (down 14%); Average sales price was 95% of original asking price.
The overall volume of sales in the La Jolla real estate market decreased markedly from October. There were substantially fewer condo, townhome and duplex sales, but the same number of single family home sales. Sales prices ranged from $535,000 to $17,000,000.
Average time on the market was significantly longer for single family homes, but the same for condos, townhomes and duplexes. 4 of the homes went pending in 1 week or less, quite a bit less than last month. It’s probably still smart for La Jolla buyers to not delay in their decision-making about touring homes and submitting offers.
The average sales price for single family homes was lower than last month Similarly the average sales price was lower for condos, townhomes and duplexes than in October.
Most La Jolla buyers were able to successfully negotiate the prices of their new homes. 3 of the buyers paid over asking price for their new homes, well below the number in October.
The median sales price of the single family homes, $2,975,000, was 9% lower than in October. Similarly, the median price was 16% lower at $860,000 for condos, townhomes and duplexes.
There were 2 La Jolla homes with an Active Under Contract status at the end of November, versus 1 for 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 132 homes on the market at the end of November, ranging in price from $525,000 to $49,000,000 (the most expensive home is also co-listed with an LA brokerage). This is down 13% from last month.
The current inventory in La Jolla is 4.9 months for single family homes (the same as last month), and 2.3 months for attached (also the same as October), based on the rate of sales for the last 3 months. La Jolla real estate remains a sellers’ market for single family homes but moving toward being balanced, and is a very strong seller’s market for condo, townhome and duplex buyers.
The number of new listings in November, 38, was substantially fewer than last month (53). Similarly, 20 homes went pending (excluding those homes that closed escrow), 14 fewer than last month.
Let me know if you would like more information about the La Jolla real estate market. I can also share details about specific residential areas (the Village, La Jolla Shores, La Jolla Farms, Bird Rock, Mt. Soledad, Windansea). Please reach out to me directly or by text at (760) 840-1360. We can discuss your personal housing needs, budget, and the purchase of a La Jolla home. I can also help you create a plan for selling your current home if that’s your goal.
SEARCH FOR HOMES FOR SALE IN LA JOLLA CA
What’s my La Jolla Home Worth? La Jolla Real Estate Market for October 2022
It's hard to not like La Jolla Lise Howe other than, perhaps, housing prices! Thanks for stopping by!