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

In case you haven't noticed...we cover the La Jolla real estate market trends every Monday right here. At the end of this post I will link into the past few months of Market updates so you can compare and see where the opportunity lies for you. Whether you are a home buyer or a home seller the La Jolla market is strong. A great place to make an investment for buyers and a great time to cash out for sellers. La Jolla is one of the most beautiful beach communities in San Diego, a little bubble of its own with everything you need in town.

Covering current real estate market conditions for condos/townhomes and single family (detached) residences, trends in pricing, current levels of supply and demand and value metrics in the 92037 zip code. We have access to these reports for every zip code in San Diego, you can request your city by emailing us here. (Include your city's zip code and SFR or Condo in your message.)

Condos/Townhomes in La Jolla, CA (92037)

The median list price in La Jolla, CA this week is $890,500. The 126 properties have been on the market for an average of 181 days. With inventory and days-on-market basically unchanged, the market is not sending strong directional signal for the near-term outlook.

Supply & Demand

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller's market so watch for upward pricing pressure in the near future if the trend continues.

Median Price - The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

Price Per Square Foot - 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.

Market Action Index - The La Jolla market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 30.47 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.

The market action index for condos has just recently moved into the seller's advantage, April 25th market report indicated a Buyer's Market...so the shift just recently happened, remember market action index 30 and above is the breaking point from buyer's to seller's market. If you see something you like, the best advice I can give is to hire a good Realtor (HIRE US here) and get a ticket to the game by making an offer, let negotiation skills do the rest and if its meant to be...it will be!

Single Family Homes in La Jolla, CA 92037 (Detached Homes)

The median list price in La Jolla, CA this week is $2,995,000. The 201 properties have been on the market for an average of 145 days. The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening 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.

Median Price - The market has been on a downward trend in the last few weeks and this week, while essentially flat, doesn't break us out of that cycle.

Price Per Square Foot - The market's 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.

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

Want to see how the La Jolla market has been performing in past months? Click on the titles below for details:

Monday Market Update | La Jolla Condos and Townhomes (Jan 2016)

Monday Market Update | La Jolla Real Estate Market (Jan 2016)

Monday Market Update | La Jolla Real Estate Market Conditions (Feb 2016)

Monday Market Update | La Jolla Real Estate (Feb 2016)

How To Identify A Buyer's Market And Prevent Overpaying in La Jolla (March 2016)

What's Trending In Real Estate and How Is It Affecting La Jolla Homeowners (March 2016)

Why The La Jolla Real Estate Market Is Hotter Than Beyonce (May 2016)

I'm not going to link into every single report...but you get the gist, market updates are every Monday and you can find the previous articles to the right of this blog post in the sidebars Blog History Link.

If you are looking to buy or sell a home in La Jolla give us a shout. We know the inventory like the back of our hand and take pride in knowing the specifics of trends and ins and outs of working with listing agents in La Jolla.

Hire Team SchuCo

Team SchuCo Of La Jolla
Teresa Schumacher - REALTOR®

Marc Coleman - Marketing/Business Development
Berkshire Hathaway HomeServices California Properties
1299 Prospect Street
La Jolla, CA 92037

E: tschumacher@bhhscal.com
Ph: 619-995-2132

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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.
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