Current Real Estate Market Trends for La Jolla

Marc and I talk about the real estate market daily! Addicted to the stat watching and trends circling back around...we are predicting prices to drop in La Jolla over the next few months. The plateau has been here since January and the Market Action Index indicates a slight downward trend for the past few weeks.

Home Buyer's....are you hearing this?!?


If you want to get into a home before the year is over a strategy and plan is uber important.

Looking for a deal?!?!

This could be your time to capitalize on supply growing relative to demand.

The best buyer's market advantage is in Single Family Homes, perhaps you have a condo and would like to upgrade or need more space? Now is your time.

Condos and Townhomes in La Jolla, CA 92037

The median list price in La Jolla this week is $950,000. The 119 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 has started cooling and prices have recently plateaued. Since we're in the Seller's zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer's zone, watch for downward pressure on prices.

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 - 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.

Market Action Index - The La Jolla condo market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 30.94 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.

This week 27% of condos in La Jolla had a price decrease and 24% were re-listed (resetting days on market to 0).

Single Family Homes in La Jolla, CA 92037

The SFR median list price in La Jolla this week is $2,922,000. The 240 properties have been on the market for an average of 145 days. The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market.

Supply & Demand

While prices have been at a plateau for a number of weeks, this is a Buyer's market and the supply of homes listed has started growing relative to demand. This indicates that prices could easily resume a downward trend in conjunction with the MAI. Prices are unlikely to move significantly higher until there is a persistent upward shift in the MAI.

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 Buyer's Advantage zone (below 30), though not strongly so. The 90-day Market Action Index stands this week at 24.73 so buyers should expect to find reasonable levels of selection.

This week 45% of properties had a price decrease and 21% were re-listed. 

Interested in the list of homes that had a price decrease this week? You can EMAIL us with your specific request and we will send you the report.

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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