La Jolla Housing Market (2023 Statistics & Forecast)
La Jolla Housing Market
The 2023 La Jolla housing market is characterized by its exclusivity, upscale properties, and strong demand. La Jolla in the 92037 zip code, located within the city of San Diego, California, is renowned for its stunning coastal setting, luxurious lifestyle, and vibrant cultural scene. Here's an overview of the La Jolla housing market:
La Jolla features a wide range of luxury homes, including beachfront estates, hillside mansions, contemporary designs, and Mediterranean-style villas. These properties often command premium prices due to their breathtaking ocean views, exceptional lots, and proximity to community amenities.
The demand for homes in La Jolla is consistently high, driven by its desirable coastal lifestyle, prestigious public and private schools, and proximity to both natural attractions and urban amenities.
The supply of homes in La Jolla can be limited, particularly for newer construction properties and entry level single family homes. This scarcity contributes to the competitive nature of the market and can drive up home prices.
Variability in Prices
Home prices in La Jolla vary widely based on factors such as location, view, and finish. Properties in close proximity to the water or with panoramic ocean views command the highest price per square foot.
Investment and Second Homes
La Jolla is not only a sought-after place to live but also a desirable destination for investment properties and second homes. Buyers from around the world are attracted to the area's luxury real estate market to park their cash.
Like other real estate markets, La Jolla's housing market can experience fluctuations influenced by economic conditions, interest rates, and local factors. Prices have historically shown resilience, reflecting the area's prestige.
Community and Amenities
The La Jolla lifestyle includes access to cultural events, art galleries, fine dining, upscale shopping, and outdoor recreational activities such as surfing, golfing, and hiking.
La Jolla housing market updates and trends comparing July 2023 from July 2022
La Jolla Single-Family Homes
New listings down 25%
Pending sales flat
Closed sales up 4.3%
Median sales price $2.910M down 6.1%
Absorption rate up to 7.2 months
La Jolla Condos & Townhomes
New listings down 2.8%
Pending sales down 37.5%
Closed sales down 4%
Median sales price $991,500
Absorption rate up to 3.7 months
La Jolla Real Estate Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
La Jolla Home Median List Price
La Jolla Homes By Price Per Square Foot
La Jolla Housing Inventory
La Jolla Real Estate
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