What's My La Jolla Home Worth?
La Jolla Home Sales for June 2024
La Jolla is one of the more expensive housing markets in San Diego County. When you tour La Jolla online (see link below), or visit in person, you’ll see why this is so.
As a buyer or seller in La Jolla, having up-to-date local market information about La Jolla homes for sale benefits you when you need to make educated decisions about buying and/or selling a La Jolla home.
La Jolla is an attractive coastal community with many homes offering beautiful views of the ocean from the hills or shoreline. There is an up-scale village offering top-notch shopping, dining, and services. La Jolla has sometimes been compared to the French and Italian Rivieras due to the wonderful ocean and coastline vistas, spectacular homes, and an appealing year-round climate, which attract visitors from around the world.
READ MORE:
La Jolla Real Estate – A Jewel on the San Diego Coastline
49 homes sold in La Jolla in June, 4 more sales than last month. Here’s an overview of the housing activity (the 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
25 (up by 4); 31 Average Days on Market; The Average Sales Price was $4,640,299 (down 6%); the average sales price was 98% of the original asking price.
Condos, Townhomes & Duplexes Sold
24 (no change); 22 Average Days on Market; Average Sales Price was $1,253,845 (down 13%); Average sales price was 98% of the original asking price.
The overall volume of sales in the La Jolla real estate market rose modestly from May. The same number of condos, townhomes and duplexes were sold, while there were 4 more single family home sales. Sales prices ranged from $524,300 to $9,550,000.
The average time on the market decreased for single family homes, but remained the same for condos, townhomes and duplexes. Some buyers made quick decisions, with 24% of the homes going pending in 7 days or less. As a result, La Jolla buyers should still be prepared to make quick decisions about touring homes and submitting offers.
The average sales price for single family homes declined from last month. The average sales price for condos, townhomes and duplexes was also lower than in May.
While the majority of buyers negotiated the prices of their new homes down from asking price, 35% paid the list price or more for their new homes.
The median sales price of the single family homes, $3,850,000, was 3% higher than in May. On the other hand, the median price of $1,079,500 for condos, townhomes and duplexes was 12% lower than last month.
There were 4 La Jolla homes with an Active Under Contract status at the end of June, compared to 2 last month (when they occur these homes are considered active but they might not be accepting more offers or be available to tour).
There were 161 homes on the market at the end of June, compared to 129 last month, good news for buyers. List prices range from $533,000 to $39,977,000.
The current supply of single family homes is 4 months (up from 3.5 months last month), and 2.7 months for condos, townhomes and duplexes (down from 2.2 months last month), based on the rate of sales over the last 3 months. La Jolla is a strong seller’s market for single family homes, and a very strong seller’s market for condos, townhomes and duplexes.
There were 86 new listings in June, compared to 89 last month. 39 homes went pending (excluding those homes that closed escrow) versus 38 in May.
If you would like more information about the La Jolla housing market, please let me know. I can also share specific details about individual residential areas (the Village, La Jolla Shores, La Jolla Farms, Bird Rock, Windansea).
Please reach out to me directly or via text at (760) 840-1360. We can discuss your personal housing needs, budget, and your purchase of a La Jolla home. I can also help you create a strategy for selling your current home if that’s your plan.
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 2024
Comments(6)