Current Real Estate Market Trends for La Jolla Single Family Homes, Condos & Town Homes
3 Questions Every Realtor Should Be Able To Answer...
As the real estate industry continues to evolve its interesting to see new innovative marketing tactics. When you are selling or buying a home in La Jolla choosing the right Realtor is extremely important. Today's market update includes some key questions you might want to ask the person you hire:
- Why Do You Want To Be My Realtor?
- What Can You Do For Me That I Won't Find Anywhere Else?
- Do You Have A Formal and Written Marketing Plan For Selling Homes?
How they answer those questions should give you a good idea of whether or not its a good fit for your personal goals in selling your home.
Monday Market Update for La Jolla, covering real estate market conditions for townhomes/condos and detached homes, trends in pricing, supply & demand and value metrics for 92037. Important information for home buyers and home sellers to help with your negotiations.
Condos/Townhomes in La Jolla, California 92037
This week the median list price in La Jolla is $896,500. The 132
properties have been on the market
for an average of 185 days. Inventory is tightening and days-on market
is falling. But demand as
measured by the Market Action Index
is also trending down. The market is
not giving strong up or down signals
from data.
Supply & Demand
In a Buyer's market, the relative stasis in inventory and sales conditions has allowed prices to drift lower recently. Expect that consistent up trends in demand will be required before price trends change significantly.
Median Price - Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high
level. The Market Action Index is a good leading indicator for the durability of this trend.
Price Per Square Foot - The market's light 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.
The 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 27.10 so buyers should expect to find reasonable levels of selection. See last week's market action index.
Single Family Homes in La Jolla, California
The median list price in La Jolla this week is $2,895,000. The 206
properties have been on the market
for an average of 150 days. Demand measured by the Market
Action Index is increasing and dayson-market
is holding steady. With
more properties coming available,
conditions are mildly positive.
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.
Price Per Square Foot - While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength
in a market, larger homes are coming more available and buyers are tending to get more home for their money.
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 24.34 so buyers should expect to find reasonable levels of selection.
If you are currently looking to buy a home in La Jolla, its okay to hire your Buyer's Agent to help you with that process. Realtors have access to the MLS and pocket listings that you might not see on Zillow or the Internet. We love working with buyer's and will work hard to represent your best interests throughout the transaction.
Follow us on Instagram to see behind the scenes, IG: @LaJollaRealEstate
Hire Team SchuCo
or Call:
619-995-2132
Teresa Schumacher
Realtor CalBre 01731418
Marc Coleman
Marketing/Business Development
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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