What’s the Trend in La Jolla’s Real Estate Market?

Here is a quick review of La Jolla’s Real Estate Market Trend for the week of Aug 9, 2010

 The median list price in La Jolla last week was $2,350,000. The 311 properties have been on the market for an average of 161 days.

From this chart you can see that the inventory and days on the market are both trending higher in recent weeks. This chart also shows that during the past week 36% of the properties on the market have had a price decrease. Also in terms of Supply and Demand the market is getting cooler with more homes coming on the market relative to the sales demand. Because of the excess of inventory, prices have not yet stopped falling. What does this all mean? The Index is still indicating that it’s a Buyer’s Market. 

So if you are wondering if NOW the time to BUY a home in La Jolla? My answer is YES, especially with interest rates still at historic lows and great deals to be found why wait! If you need a current market analysis or have real estate questions please give me a call 619-980-2738 or visit my website .