How’s La Jolla Real Estate Trending? It’s still advantage Buyer!

Last Week the median list price in LA JOLLA, CA 92037 was $2,295,000. The 254 properties have been on the market for an average of 211 days.

From the chart you can see demand measured by The Market Action Index shows inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available Inventory, this Buyer’s Market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to. As you can see the The Market Action Index Days on the market have been trending lower, while prices have increased slightly!

Median Price

In La Jolla’s zip code, this week the median price change continues to increase, which demonstrate a nice up trend over the last several weeks. 

Inventory of Properties Listed for Sale … La Jolla’s properties have been on the market for an average of 211 days. However, half of the listings have come newly on the market in the past 158 or so days.

Market Action Index per Quartile
This chart shows that the Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction.

The market trends from these charts show that it is still a Buyer’s Market with several months of inventory given the current levels of demand. However, prices are rising! You need to watch the quartiles for changes before the overall market shifts.

So if you have been undecided about buying your first home or moving up from your current home in La Jolla all indications are still in your favor. Now that Spring is here and the selling “season” is upon us, don’t miss your opportunity.  There is still time to get a great deal! If you need a current market analysis or have real estate questions please give me a call 619-980-2738 or visit my website