La Jolla’s Real Estate trend still indicates it’s a buyer’s market!

As of the week of January 25, 2010 the median list price in LA JOLLA, CA 92037 is $2,272,500.  202 La Jolla properties have been on the Market for an average of 214 days.

From the chart you can see Inventory has been decreasing lately but the Market Action Index is also falling. It shows days-on-market are climbing, which has negative implications for the market. You can also see the percentage of properties with a price decrease was 34%.  The market has settled in at a relative stasis in inventory and sales conditions. This shows it’s a Buyer’s market that has seen prices trend lower.

Median Price — Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.

Market Action Index — The LA JOLLA, 92037 market is currently quite strongly in the Buyer’s Advantage zone (below 30). The 90-day Market Action Index stands at 15.12. With several months of inventory available at the current sales rate, buyers should find ample choice.

The market trends from these charts show that it is still a very strong Buyer’s market. So if you have been undecided to buy your first home or move up from your current home in La Jolla all indications are in your favor.

If you need a current market analysis or have real estate questions please give me a call 619-980-2738 or visit my website.