What's the Value of My La Jolla Home?
La Jolla Home Sales for November 2024
La Jolla is one of the more expensive housing markets in San Diego County. If you tour La Jolla online (see link below), or visit the community in person, it’s easy to see why this is so.
As a buyer or seller in La Jolla, having current local market information about La Jolla homes for sale will benefit you when you need to make informed decisions about buying and/or selling a home in La Jolla.
La Jolla is an attractive coastal community with many homes offering beautiful views of the ocean from the hills or along the coast. 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
48 homes sold in La Jolla in November, 2 fewer sales than in October. 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
29 (up by 1); 31 Average Days on Market; The Average Sales Price was $3,684,379 (down 4%); the average sales price was 95% of the original asking price.
Condos, Townhomes & Duplexes Sold
19 (down by 3); 53 Average Days on Market; Average Sales Price was $1,254,964 (down 5%); Average sales price was 93% of the original asking price.
The overall volume of sales in the La Jolla real estate market dropped slightly from October. Condo, townhome and duplex sales decreased by 3, and there was 1 more single family home sale. Sales prices ranged from $565,000 to $7,600,000.
The average time on the market was modestly longer for single family homes, and was 9 days longer for condos, townhomes and duplexes. A number of buyers made quick decisions, with 25% of the homes going pending in 7 days or less, fewer than last month. Thus, La Jolla buyers should be ready to make quick decisions about touring homes and submitting their offers.
The average sales price for single family homes decreased from last month. The average sales price for condos, townhomes and duplexes was also lower than in October.
The majority of home buyers negotiated the prices of their new homes down from list price. However, 31% paid asking price or more for their new homes.
The median sales price of single family homes, $3,700,000, was 19% higher than in October. Similarly, the median price of $1,295,000 for condos, townhomes and duplexes was 15% higher than last month.
There was 1 La Jolla home with an Active Under Contract status at the end of November, compared to 4 last month (when they occur these homes are considered active but may not be accepting backup offers or be available to tour).
There were 139 homes on the market at the end of November, down from 168 last month. List prices range from $523,000 to $108,000,000.
The current supply of single family homes is 3.3 months (down from 3.8 months last month), and 2.9 months for condos, townhomes and duplexes (down from 3.6 months last month), based on the rate of sales over the last 3 months.
La Jolla remains a seller’s market for single family homes, as well as for condos, townhomes and duplexes.
There were 50 new listings in November, compared to 56 last month. 29 homes went pending (excluding those homes that closed escrow) versus 38 in October.
If you would like more information about the La Jolla housing market, please let me know. I can also share details about particular residential areas (the Village, La Jolla Shores, La Jolla Farms). Please reach out directly or via text at (760) 840-1360. We can discuss your personal housing needs, budget, and your plans to buy a La Jolla home. I can also help you create a strategy for selling your current home if that’s your desire.
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 2024
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