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

After a weekend of Open Houses I can feel the market warming up...Traffic of house hunters has increased this past weekend. Some that have just started their search and others that I have seen 3 and 4 times at different properties. Now is the window of opportunity! Don't wait until the spring/summer season...swoop in on those homes that have been sitting 120+ days on the market with no action and make an offer. Want help? Contact Us. Otherwise, you  may see yourself in a bidding war with a competing buyer..who wants that?!?

Today's market update is for the week of February 29th - Happy LEAP YEAR Day! Covering current real estate market conditions, trends in pricing and current levels of supply and demand for both housing types: Condos/Townhomes and Single Family Residences.

Condos/Townhomes in La Jolla, California 92037

This week the median list price for condos and townhomes in La Jolla is $912,500 (down from last week). The 138 properties have been on the market for an average of 190 days. Inventory is tightening and days-on market is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.

Supply & Demand

Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer's market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse. 

This also depends on what properties hit the market and which properties close on escrow...the past 7 days I have seen more sold activity on the MLS, which also indicates the market is heating up with activity and sales closing.



Median Price - Prices have settled at a price plateau across the board.

Despite this week's down tic, price trends have been moving up in the last few weeks. We are below the market's high point. The Market Action Index is a good leading indicator for the durability of this trend.

The price per square foot is increasing fairly consistently recently despite the fact that overall price trends haven't shown a consistent upwardly push. This can imply that investment conditions are opportunistic. Watch the Remodel Index for a more detailed analysis of the investment opportunity in the area.

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 26.23 so buyers should expect to find reasonable levels of selection.

Single Family Homes In La Jolla, California

The median list price in La Jolla this week is $2,950,000. The 198 properties have been on the market for an average of 149 days. Inventory is up and Market Action is trending down recently. While days on-market appears to be trending lower, the overall conditions are weakening a bit.

Supply & Demand

The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward 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.




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.

The La Jolla real estate 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 25.33 so buyers should expect to find reasonable levels of selection.

For a complete Altos report on the La Jolla Real Estate market you can send us an email HERE with La Jolla Altos Report in the subject line and we will forward you a copy. (email: tschumacher@bhhscal.com)

If you have just started your home search in La Jolla and would like a guided tour of homes that meet all of your requirements you can schedule an appointment with us by calling 619-995-2132 or ping us on social media. 

Have a great week! 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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