What's the Value of My La Jolla Home?
La Jolla Home Sales for February 2025
La Jolla is one of the most expensive housing markets in San Diego County. When you tour La Jolla online (see Read More link below), or visit the community in person, it becomes obvious 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 informed decisions about buying and/or selling a home in La Jolla.
La Jolla is an appealing coastal community with many homes offering beautiful views of the ocean from the hills and 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
38 homes sold in La Jolla in February, 9 more sales than in January. 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
24 (up 33%); 27 Average Days on Market; The Average Sales Price was $4,754,112 (up 20%); the average sales price was 99% of the original asking price.
Condos, Townhomes & Duplexes Sold
14 (up by 3); 25 Average Days on Market; Average Sales Price was $1,446,071 (up 6%); Average sales price was 100% of the original asking price.
The overall volume of sales in the La Jolla real estate market increased from January. Condo, townhome and duplex sales were up by 3, and there were 6 more single family homes sold. Sales prices ranged from $620,000 to $15,900,000.
The average time on the market was significantly shorter for single family homes, and was 2 weeks shorter for condos, townhomes and duplexes. A number of buyers made quick decisions, with 39% of the homes going pending in 7 days or less, well more than last month. Thus, it’s important for buyers to 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 price for condos, townhomes and duplexes also increased modestly from January.
The majority of the home buyers were able to negotiate the prices of their new homes down from asking price. At the same time, 39% paid list price or higher for their new homes.
The median sales price of single family homes, $4,020,670, was 42% higher than the median in January. In contrast, the median price of $902,000 for condos, townhomes and duplexes dropped by 22% from last month.
There were 2 La Jolla homes with an Active Under Contract status at the end of February, the same as last month (when they occur these homes are considered active but may not be accepting backup offers or be available to tour).
There were 136 homes on the market at the end of February, a drop from 141 last month (down 4%). February list prices ranged from $529,000 to $108,000,000.
The current supply of single family homes is 3.4 months (up from 3.3 months last month), and 4.4 months for condos, townhomes and duplexes (the same as last month). This is based on the rate of sales over the last 3 months and the inventory.
La Jolla continues to be a seller’s market for single family homes, as it is for condos, townhomes and duplexes.
There were 59 new listings in February, compared to 90 last month. In contrast, 38 homes went pending (excluding those homes that closed escrow) up from 26 in January.
If you would like more information about the La Jolla housing market, please let me know. I can also share details about specific residential areas (the Village, La Jolla Shores, La Jolla Farms). Please reach out directly or via text at (760) 840-1360. We’ll discuss your particular housing needs, budget, and your purchase plans. I can also help you create a strategy 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 January 2025
Comments(4)