Real Estate Trends for La Jolla

Did we all get to work safely this morning?? Those howling winds last night really made for some major clean-up on the roads. La Jolla's main road into town was closed down for removal of a massive tree that was uprooted. Nonetheless, everyone on this end is safe and sound and here is your recent update for a look at the real estate market in La Jolla for the week of February 1, 2016.


If you missed last week's Altos Report you can access it HERE.

Condos/Townhomes in La Jolla, California 92037

This week the median list price for condos and town homes in La Jolla is $870,000 (down from $882,500 last week). The 143 properties have been on the market an average of 204 days. The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market.

Supply & Demand

The market has been consistently cool for several weeks. Demand level are low relative to the available inventory. It's a Buyer's market and prices have begun moving lower. Look for a persistent shift in Market Action before prices plateau or begin to rise again.

So the question might be is it going to plateau...or will prices creep back up again...

I don't have a crystal ball...but what I do know, if you find something you like and it meets most of your needs and you want to buy a home - GREEN LIGHT - GO! and do it now...we can't predict if they will come down or go up or if the bottom has been reached. But what we do know is the market ticks down (as it has been for the past few months) and then it creeps back up.

It is a Buyer's Advantage Market with the Market Action Index at 26.7 this week (last week 27.8).

Median Price - Again this week we see a downward notch for prices. Pricing has been weak in recent weeks, versus their absolute-high level. The Market Action Index is a good leading indicator for the durability of this trend.

The Market Action Index below shows activity over the past two years. The La Jolla market is currently in the Buyer's Advantage zone. The 90-day Market Action Index stands at 26.68 so buyers should expect to find reasonable levels of selection. Do you need help putting an offer in on a home that you have been eye balling?? We can help, click here and send us a message. 

For a complete Altos report on the townhome/condo market of La Jolla just send us an email HERE with La Jolla Altos Report in the Subject Line...and we can forward you a copy. (E-mail Teresa at tschumacher@bhhscal.com - for manual input)

Single Family Homes in La Jolla, California 92037

The median list price in LA JOLLA, CA this week is $2,893,000. The 175 properties have been on the market for an average of 156 days.

The Market Action index has been trending down lately, while days-on market is climbing, providing mostly bearish signs for the market.

Supply & Demand

The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes. 

The Market Action Index is showing no change this week holding steady at 26.63 (last week it was 26.7) indicating the Buyer's Advantage Zone. Again, expect to find reasonable levels of selection for single family homes in La Jolla.

Median Price - The market is hovering around this plateau. Look for persistent change in the Market Action Index before we see prices deviate from these levels.

Market Action Index for the La Jolla market is currently a Buyer's Advantage zone for single family homes. Buyer's should expect to find reasonable levels of selection. 

For those of you home shopping in La Jolla, the no sign ordinance may find it hard to see which properties are available....that handy dandy widget on the top right column of our blog has a really cool GPS App for your phone. You can see properties real time and request more information with the tap of a button. So go get you one! Just input your phone number in the widget and it will send you the link to the APP for FREE! Holla. 

Good Luck on your house hunting this week, if you are looking for some guidance and a La Jolla Buyer's Agent, you can set an appointment with Team SchuCo. Remember you can call or text as well at 619-995-2132.

HAPPY MONDAY!

As your full service REALTOR® specializing in the beautiful city of San Diego, California, it is my personal goal to provide you with exceptional service. Here is where you will find articles on my personal experiences and Real Estate resources. My local expertise backed by one of the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the Real Estate market a definitive mark of stability, strength, quality and innovation.
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