Current Real Estate Market Trends for La Jolla Single Family Homes, Condos & Town Homes

Welcome back to our Monday market update for La Jolla real estate...did you get out this weekend? Hopefully all of the Mother's out there enjoyed the day and got some tender loving care from their off spring. We held Open House on Saturday and look forward to helping a home buyer find their dream home in our new listing. Have you seen it yet? 7560 Eads Ave Unit 6

Today's report covers current real estate market conditions for condos/townhomes and single family residences in our favorite beach town, La Jolla, California 92037. If you are a home buyer or home seller these statistics are important to you; as we cover trends in pricing, current levels of supply and demand and value metrics.

See for yourself why the market is HOTTER than Beyonce...and she's pretty freak HOT!

Condos/Townhomes in 92037

The median list price in La Jolla, CA this week is $886,000. The 129 properties have been on the market for an average of 174 days.

Supply and Demand

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Median Price - This week prices bumped up a bit but the trend of recent weeks is generally downward. A pickup in demand will be reflected in the Market Action Index, so watch that chart to try to identify a change in the market.

Price Per Square Foot - The market's downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities.

Market Action Index - The La Jolla market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 30.62 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly. Do you remember early on in the year...when I was saying...BUY BUY BUY!

Although not a strong Seller's advantage in the condo market, if there is a unit you have been eyeing to buy...making an offer gets you a ticket to the game...then it boils down to negotiation skills and fair market value :-). HIRE US to help you write a purchase contract.

Our Monday market update is the Cliff Note version Email Us for the full report with Altos Report in the subject line.

Single Family Homes in 92037

The median list price in La Jolla, CA this week is $2,999,000. The 198 properties have been on the market for an average of 144 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

Home sales have begun exceeding new inventory. This is a Buyer's market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller's zone, we may see upward pressure on pricing.

Median Price - The market appears to be hovering around this plateau. This week prices eased down a bit. The Market Action Index is a good leading indicator for the durability of this shift.

Price Per Square Foot - The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.

Market Action Index - The LA JOLLA market is currently in the Buyer's Advantage zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 25.19 so buyers should expect to find reasonable levels of selection.

All right you guys...You see the stats and facts of the La Jolla real estate market right there...its your move...Are you buying or selling right now? Either way...we can help, we love what we do and we do it with passion. Hire Team SchuCo to represent your best interests! Team work makes the DREAM home work!

Team SchuCo Of La Jolla
Teresa Schumacher - REALTOR®

Marc Coleman - Marketing/Business Development
Berkshire Hathaway HomeServices California Properties
1299 Prospect Street
La Jolla, CA 92037

E: tschumacher@bhhscal.com
Ph: 619-995-2132

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As your full service REALTOR® specializing in the beautiful city of La Jolla, 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.
I “LOVE” my career! Hire me to help you navigate through the home buying or home selling process.
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