Current Real Estate Market Trends For La Jolla Condos, Townhomes & Single Family Homes

Happy Memorial Day weekend friends! Hope this weekend found you enjoying the time off and looking forward to the summer season. More importantly not to forget what it's really about and all of the soldiers who have lost their lives protecting our country for our freedom.


Thank you to our service men and women for your passion to lend a hand in the United States Military. As usual our Monday market update on the La Jolla real estate market is right on time! Numbers don't lie my friends...the trends are interesting as the condo market creeps into the Seller's Advantage Zone and the market continues to grow hotter.

Condos & Townhomes in La Jolla, CA 92037

The median list price in La Jolla, CA this week is $959,000. The 118 properties have been on the market for an average of 194 days. This number is also based on median number of 2 bedrooms and 2 bathrooms with the average square footage at 1,446. Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.

Supply & Demand

The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Median Price - Price trends continued their recent uptrend this week. While still below the market's price high-point, we've seen a nice run recently.

Price Per Square Foot - The market appears to be placing a mildly increasing premium on homes. When list prices and price per square foot increase in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop.

Market Action Index - The La Jolla, 92037 market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 31.71 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.

Now could be the perfect time to sell your La Jolla condo...especially if you purchased your condo in the Buyer's Market of September 2013 through January 2014. Would you like a complimentary home value report? Contact Us for an exclusive marketing plan and price range for your home.

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

The median list price in La Jolla, CA this week is $2,949,000. The 207 properties have been on the market for an average of 141 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

Home sales have begun exceeding new inventory. This is a Buyer's market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller's zone, we may see upward pressure on pricing.

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 - 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. You can investigate this condition in the quartile details.

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

So...how do you feel about today's report? Are you seeing the opportunities that lie in home ownership?

Full detailed reports are available, email us with Altos Report request in your subject line and we can forward you a copy.

Enjoy the rest of the day my friends and remember, who you work with matters! Having a Realtor advise you based on your best interests is key...look at your overall goals and take it from there. Got Questions?!? We are here to help, no obligation to sell or buy with us, we look forward to earning your business.

Search for previous market updated by using the search widget top right corner of the blog: type Market Value Updates.

HIRE TEAM SCHUCO

Team SchuCo Of La Jolla
Teresa Schumacher - REALTOR®

Marc Coleman - Office Mgr./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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