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November 14, 2008

La Jolla Home Prices on the Rise in October
Here are some new numbers for average prices and number of transactions in San Diego County, for the month of October. Average prices fell in many areas, while some areas remain strong and actually posted a higher average compared month to month.
The average price for a home in La Jolla jumped nearly $100,000, in October, compared to the previous month. It is no surprise that the average price for a home in La Jolla is still over a million dollars and in October, the average price was more than 1.1 million dollars.

The ocean community of Carlsbad posted a decrease in its average price falling nearly twenty thousand dollars. Other areas that are down compared to the previous month are Escondido, Encinitas, Vista, Oceanside and El Cajon. Areas that dropped the most were Encinitas, which posted more than a thirty thousand decrease and Vista, which post a decrease of just under thirty thousand dollars.

Rancho Bernardo had a nice increase in its average price jumping more than fifty thousand dollars. Chula Vista posted an increase of over three hundred thousand dollars for its average price.

As far as transactions, La Jolla homes fell five units compared to the month before, while Chula Vista had an increase of more than forty-five units sold compared to September. Areas that posted increases in transactions were Carlsbad, El Cajon, Escondido and Oceanside. Rancho Bernardo saw a decline in transactions falling a little more than ten units.