What's the Value of My La Jolla Home?
La Jolla Home Sales for January 2025
La Jolla is one of the most expensive housing markets in San Diego County. If you take a tour of La Jolla online (see Read More link below), or visit the community in person, it becomes pretty obvious.
As a buyer or seller in La Jolla, having current local market information about La Jolla homes for sale benefits you when you need to make educated 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 been compared to the French and Italian Rivieras due to the wonderful ocean and coastline vistas, spectacular homes, and an appealing climate year-round, attracting visitors from around the world.
READ MORE:
La Jolla Real Estate – A Jewel on the San Diego Coastline
29 homes sold in La Jolla in January, 8 fewer sales than in December. Here’s a summary 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
18 (down by 7); 50 Average Days on Market; The Average Sales Price was $3,954,030 (up 25%); the average sales price was 93% of the original asking price.
Condos, Townhomes & Duplexes Sold
11 (down by 1); 39 Average Days on Market; Average Sales Price was $1,368,134 (up 10%); Average sales price was 99% of the original asking price.
The overall volume of sales in the La Jolla real estate market declined from December. Condo, townhome and duplex sales decreased by 1, and there were 7 fewer single family home sales. Sales prices ranged from $528,000 to $10,700,000.
The average time on the market was 6 days longer for single family homes, and was almost 3 weeks shorter for condos, townhomes and duplexes. Plenty of buyers made quick decisions, with 17% of the homes going pending in 7 days or less, well more than last month. Thus, buyers should be prepared to make prompt decisions about touring homes and submitting offers.
The average sales price for single family homes increased from last month. The average sales price for condos, townhomes and duplexes also increased from December.
While many of the home buyers negotiated the prices of their new homes down from list price, 38% paid asking price or higher for their new homes.
The median sales price of single family homes, $2,825,000, was 4% lower than in December. On the other hand, the median price of $1,150,000 for condos, townhomes and duplexes was up by 16% from last month.
There were 2 La Jolla homes with an Active Under Contract status at the end of January, versus 1 last month (when they occur these homes are considered active but may not be accepting backup offers or be available to tour).
There were 141 homes on the market at the end of January, up 27% from 111 last month. List prices range from $529,000 to $108,000,000.
The current supply of single family homes is 3.3 months (up from 2.3 months last month), and 4.4 months for condos, townhomes and duplexes (up from 2.5 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 90 new listings in January, compared to 33 last month. 26 homes went pending (excluding those homes that closed escrow) versus 17 in December.
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 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 December 2024
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