Real Estate Market Trends for La Jolla

Good Morning San Diego, interesting reports on the Real Estate market in La Jolla for the week of January 25, 2016. If you are looking to buy, now could be your window of opportunity.


Today we will cover the basics of both types of housing: Single Family Residences and Condos/Townhomes If you missed last weeks Altos report you can click here to view.

Condos/Townhomes in La Jolla, California 92037

This week the median list price for condos and townhomes in La Jolla is $882,500. The 140 properties have been on the market for an average of 213 days. Inventory has been lightening lately and the Market Action Index has been trending up. Though days on the market is increasing, these are mildly positive indications for the 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. 

The Market Action Index -  is showing a strong downward trend this week at 27.8 indicating a Buyer's Market. (Index above 30 implies seller's advantage, below 30, conditions give the advantage to the buyer.)

Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there's a portion of the market being priced at a premium. Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market.

Single Family Homes in La Jolla, California 92037

This week the median list price for single family homes in La Jolla is $2,894,000. The 170 properties have been on the market for an average of 157 days. Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications 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 at 26.7 indicating a Buyer's Market. (Index above 30 implies seller's advantage, below 30, conditions give the advantage to the buyer.)

Prices have settled at a price plateau across the board and the market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Green light to BUY now! A buyer's advantage market has a small window of opportunity. Moving into the Spring and Summer months we know that buyer's get more active. Getting a jump start on your competition could find yourself getting a good deal in this market. Waiting could end up costing you. 

Need to Hire a local REALTOR? We would love to chat about your goals and how to get you on the path to accomplishing home ownership. Set an appointment with Team SchuCo

Call or text us anytime 619-995-2132, hire us to work for you and negotiate based on your best interests!

Happy Monday Friends and Happy House Hunting!!!

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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