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

From exclusive mansions to waterfront properties and beyond, luxury real estate continues to advance. Lifestyle, financial objectives and various preferences of home buyers and home sellers has also evolved. From second homes, vacation homes and primary residences La Jolla is San Diego's little secret for grandeur estates. Where everyday feels like a vacation, homes wrap around the curves of the coastline and the picturesque sunsets become part of your daily routine.

Only 15 minutes from Downtown San Diego, La Jolla has plenty of options when it comes to finding your dream home. Team SchuCo is bringing you a market update giving insight into trends, pricing and current real estate market conditions for condos/townhouses and detached, single family residences in this unique beach town.

Condos/Townhomes in La Jolla, California 92037

The median list price in La Jolla this week is $850,000. The 117 properties have been on the market for an average of 120 days. 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

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 List Price - Despite this week's up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.

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 condo market is currently in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 33.75 which indicates that demand is strong and available supply of homes gets snapped up relatively quickly.

42% of properties had a price decrease this week with 18% of condos being re-listed (re-setting the days on market to zero). 

Single Family Homes in La Jolla, California 92037

The median list price for detached homes in La Jolla this week is $2,995,000. The 242 properties have been on the market for an average of 156 days. Inventory has been tightening and days-on-market increasing recently. The Market Action Index has been basically flat, not providing strong indication for market conditions.

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 List Price - The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

Price Per Square Foot - The value placed on homes continues to increase, despite the fact that prices in general have remained basically flat. These conditions can arise when inventory is light and more, smaller homes have more influence on overall prices.

Market Action Index - The La Jolla single family home 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 24.03 so buyers should expect to find reasonable levels of selection.

43% of homes had a price decrease this week and 21% were re-listed (resetting days on market to zero). 

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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