La Jolla Housing Trends and Statistics
Sitting on the northern edge of San Diego along the stunning coastline of the Pacific Ocean, La Jolla is known for hosting dozens of oceanfront properties. According to the August 2013 Real Estate Report, there are currently 123 condominiums and 391 total properties for sale in La Jolla, California.
Over the last month (September 2013), the average listing price for La Jolla real estate has increased by $34,000 to $2,934,000. However, the median sales price is now $975,000, which is a 4.4 percent, or $40,000, increase compared to the prior quarter of the year. It is also up nearly 15 percent, or $125,000, since last year at this exact time. What does this mean? The real estate market may be taking a turn for the better and we can hopefully expect to see prices climb.
In terms of size of the home, almost all layouts have experienced an increase in sales price, except those with four bedrooms. The median sales price for one bedroom properties in La Jolla is $272,000, up 8.2 percent from last year. A two bedroom home is up 15 percent from last year to $538,000. A three bedroom is $1,112,500, up an impressive 28.6 percent. While four bedroom homes are down 21.7 percent from last year to a median sales price of $1,237,500.
For the week ending September 18, the average listing price for homes in La Jolla for sale was $3,024,464, which represents a short decline of 1.1 percent compared to the previous week. On the other hand, it is an increase of 3 percent, or $89,470, compared to the week of August 28. Currently, the average price per square foot of La Jolla properties for sale is $593, representing a skyrocket climb of 18.1 percent compared to this time last year. Sales prices have also risen 17.8 percent steadily over the last five years.
Not sure what to make of all these statistics? Consult with a La Jolla real estate agent and see if it's the right time to buy for you and your family.