La Jolla Real Estate, Del Mar real estate, Rancho Santa Fe Homes, Carmel Valley Real Estate, University City and
Downtown San Diego real estate, homes and condos for sale in California - Ruth Mills & the Mills Team, REALTOR.






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November 16, 2010

Quick look at trends in La Jolla Real Estate, in the Village area!
The Median price of detached single family homes in the Village area of La Jolla for the last 6 month has been $1.500, 000 compared to last year that has remained the same. The interesting trends are; fewer sales than last year, a lower average price, a smaller inventory right now than last year, a higher sale price Vs List price and the time on market is down, and the average price was down. Some of these figures challenge logic.

In this small community there were 11 sales last year for the previous 6 months with an average price of $3,330,000 and for the last 6 months of 2010 there have been 9 sales the average price being about 36% down at $2,117,200. The Current inventory is down almost 75% from 67 homes on the market at this time last year to 17 for the same area this year. The price that the homes sold for compared to the listed price is up from 90.7% to 92.2%, for the average sale price of $2,117,222 that would be about $40,000 more than a year ago. Another very interesting bit of information is that for this area homes are selling in about two months whereas last year homes were averaging a little over four months to sell.

Trends At a Glance

Last 6 Months

Year-over Year

Median Price

$1,500,000

$1,500,000 (0.0%)

Average Price

$2,117,222

$3,330,100 (-36.4%)

Sales

9

11 (-18.2%)

Inventory

17

67 (-74.6%)

Sale Vs. List Price

92.3%

90.7% (+1.9%)

Days on Market

59

123 (-52.0%)



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