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

We always find it interesting when we step outside of La Jolla to host an Open House and talk to people about the La Jolla Real estate market...they act like its Beverly Hills or something. As if they could ever afford to live in the lovely La Jolla.

Well cyberspace home buyers...I'm here to inform you...the trends are telling a story and you might be counting out one of the most beautiful cities for no good reason! Our "La Jolla Real Estate Market Trends" will be uncovering recently SOLD properties and the stats behind them.

Facts of the listings and sold homes that typically the consumer wouldn't see (nonetheless all public record), and special points from an experienced Realtor who watches the market hourly! Every time a home breathes on the MLS in 92037, we know about it and for the past 18 months I have been studying this market like all good real estate agents do. The facts are inspiring.

Did you know that as of today there are over 320 homes for sale in La Jolla?

So let's get to it, today we will dissect 3 recently sold properties in the 92037 zip code.

8327 La Jolla Shores

Home Details:
5 Bedrooms
4 Bathrooms
3,787 sq ft on 5,937 sq ft lot
Built in 2010
Neighborhood: La Jolla Shores

Originally Listed on 11/2014 for $4,995,000 (LP/SqFt: $975.71)

SOLD on 9/28/2015 for $3,150,000 (SP/SqFt: $831.79)

This property is particularly interesting because it has been on the market 3 times since it sold back in 2010, where it sat on the market for 66 days and sold for $820,000 (LP/SqFt:288.12) which was said to be the land value...in La Jolla Shores. Fast forward to today and it sat on the market 301 days and ended up selling $1,845,000 UNDER original asking price!!! (Listing and Selling Company: Sterling Real Estate)

5987 La Jolla Corona

Home Details:
3 Bedrooms
3 Baths
2,254 sq ft on 11,800 sq ft lot
Built in 1961
Neighborhood: Muirlands
Originally Listed on 8/26/15 for $1,300,000-$1,500,000
Went pending 8/31/15 but buyer backed out and it went back on the market on 9/18/15 for $1,500,000
SOLD on 10/07/15 for $1,550,000 (SP/SqFt: $687.67)

The weekend this home was on the market we hosted open 5937 La Jolla Corona ...we watched and counted 15 cars in two hours driving to 5987 La Jolla Corona, it was like sharks looking for their prey and the bloody attack was inevitable, you had to move fast for a chance at this one. We were told...(Rumor...that there were over 9 offers on the property). This property sold in 27 days to an all cash buyer, who will more than likely flip it like a pancake!!
(Listing & Selling Company: Pacific Sotheby's & Berkshire Hathaway HomeServices)

7674 Caminito Coromandel

Home Details:
4 Bedrooms
3 Bathrooms
3,052 sq ft
HOA $850.00
Built in 1975 remodeled in 2015
Neighborhood: La Jolla Heights
Originally Listed on 5/29/2015 for $1,438,000
EXPIRED on 8/8/15 at list price of $1,349,000
Re-Listed on 8/8/15 at a range of $1,248,000-1,348,000
SOLD on 10/2/2015 for $1,300,000 (SP/SqFt: $425.95)

This home is a good example of an investment property flip, originally hitting the market 12/09/2014 with an asking price of $1,100,000. It sold to an LLC 47 days later for $916,000 (SP/SqFt: $300.13).
Back on the market 3 months later with a shiny new upgrade and asking price of $1,438,000 (LP/SqFt: $471.16) and finally selling to an end consumer at $1,300,000, $138,000 BELOW asking!
(Listing & Selling Company: Pacific Sotheby's & Casas Advisors)

In sharing these details with you we hope that you learned something today. We are always scouring the La Jolla market for great deals, but moreover for you the home buyer. If you have had your eye on a property but just can't imagine paying the asking price then contact us today.

The end of the year is a great time to capitalize on those properties that have been sitting on the market all year long with no offers. If you need to buy your home before the end of the year for tax benefit purposes then we can help! Call or text us now: 619-995-2132

If you are a home seller in La Jolla and frustrated with your current real estate agent, perhaps you just need to hire a fresh set of eyes with more than just your traditional marketing techniques. 

Click HERE to get in touch with us for your complimentary home selling marketing plan. 

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.
I “LOVE” my career! Hire me to help you navigate through the home buying or home selling process.
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