How To Use Real Estate Trends To Predict The Market
Typically our answer can be sung in synchronization, "It's great"! There is good news based on history and real estate cycles. An article on Harvard Universities blog caught my attention this week:
"How to Use Real Estate Trends To Predict The Next Housing Bubble"
In a nutshell, those who lived through the financial crisis of 2008 will always be weary of the next major crash. If history repeats itself and George, Harrison and Foldvary are right, a crash won't happen again until after the next peak in 2024.*
As we near 2016 you can be sure that real estate activity will be alive and well. Those who have been thinking about selling and buying for the last year will jump off the fence and make moves. Regardless of what the interest rates do, more than ever qualified buyers are taking advantage of home ownership.
I love scouring real estate statistics in December, surprisingly this is when all of the exciting sales go down. Let's take a look at the most recent SOLD properties in La Jolla, California. Close of escrow has been within the last 30 days from today (12/16/15), information is deemed reliable but not guaranteed.
Sold comparable properties are important to those in the market to sell or buy, a sold price of a home tells us market value. The happy place where we can see what consumers are willing to pay and where sellers are willing to sell.
Properties Under $500,000
- 8430 Via Mallorca #116 (92037)
- Days On Market: 183
- Close of Escrow: 12/14/15
- Original Asking Price: $299,000
- Sold Price: $275,000 ($543.48 SP/SqFt)
- 8686 Via Mallorca Unit C (92037)
- Days On Market: 4
- Close of Escrow: 12/14/15
- Original Asking Price: $300,000
- Sold Price: $297,000 ($429.81 SP/SqFt)
- 2600 Torrey Pines Road Unit A35 (92037)
- Days On Market: 23
- Close of Escrow: 12/14/15
- Original Asking Price: $349,000
- Sold Price: $325,000 ($416.67 SP/SqFt)
- 8272 Gilman Drive Unit 30 (92037)
- Days On Market: 48
- Close of Escrow: 12/14/15
- Original Asking Price: $449,000
- Sold Price: $354,000 ($361.96 SP/SqFt)
- 8850 Villa La Jolla Dr Unit 207 (92037)
- Days On Market: 8
- Close of Escrow: 12/15/15
- Original Asking Price: $539,900
- Sold Price: $540,000 ($434.43 SP/SqFt)
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| 8272 Gilman Drive Unit 30 (92037) |
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| 8850 Villa La Jolla Dr Unit 207 (92037) |
Properties Over $500,000
- 1155 Avenida Amantea (92037)
- Days On Market: 56
- Close of Escrow: 12/11/15
- Original Asking Price: $1,395,000
- Sold Price: $1,100,000 ($669.10 SP/SqFt)
- 1461 Caminito Batea
- Days On Market: 0 (Sold Before Processing)
- Close of Escrow: 12/10/15
- Original Asking Price: $1,795,000
- Sold Price: $1,785,000 ($661.36 SP/SqFt)
- 8374 Paseo Del Ocaso (92037)
- Days On Market: 51
- Close of Escrow: 12/14/15
- Original Asking Price: $2,780,000
- Sold Price: $2,680,000 ($1726.80 SP/SqFt)
- 1683 Calle De Primra (92037)
- Days On Market: 69
- Close of Escrow: 12/14/15
- Original Asking Price: $2,795,876
- Sold Price: $2,548,000 ($778.73 SP/SqFt)
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| 1155 Avenida Amantea (92037) |
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| 1461 Caminito Batea |
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| 8374 Paseo Del Ocaso (92037) |
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| 1683 Calle De Primra (92037) |
Thinking of buying a home in 2016?
Call or text us anytime to schedule a complimentary buyer's consultation 619-995-2132.
Enter the New Year with a plan and arm yourself with a team of professionals to work for your best interest.
*Source: Harvard Article
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