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What's My La Jolla Home Worth? La Jolla Market Report November 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 November 2022

 

La Jolla Cove in La Jolla CAThe 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.

 

READ MORE:

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.

 

Homes in La Jolla Farms in La Jolla CA

 

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

 

READ MORE:

What’s my La Jolla Home Worth? La Jolla Real Estate Market for October 2022

Posted by

Jeff Dowler, CRS
Certified Residential Specialist / Realtor®


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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

all I can say is I LOVE LA JOLLA!  It is so pretty - no wonder it is one of the most expensive neighborhoods in San Diego - with good reason! 

Dec 19, 2022 06:02 PM
Jeff Dowler, CRS

It's hard to not like La Jolla Lise Howe  other than, perhaps, housing prices! Thanks for stopping by!

Jeff

Dec 19, 2022 08:49 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.

Dec 19, 2022 11:11 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great information.  Thanks for sharing and enjoy your week! Enjoy your Tacos today. Bill

Dec 20, 2022 04:14 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

It sounds like the market is strong in La Jolla which is why it will likely always command a high purchase price.

Dec 20, 2022 04:42 AM
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good morning Jeff. Given the range of pricing a serious buyer needs professional assistance and counsel. Enjoy your day.

Dec 20, 2022 04:45 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Jeff,

Your market is strong in La Jolla as usual and will always command a high purchase price. Sellers and buyers will find your report valuable to them.

Dec 20, 2022 05:30 AM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

Good information laid out in an understandable format for any buyer or seller. With the comparison to the Italian and French Rivieras I can see why these homes are in such demand.

Dec 20, 2022 06:56 AM
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Your reports are always so thorough.  Thank you for the update!

Dec 20, 2022 07:39 AM