La Jolla, CA Housing Market Report for the Week of September 3, 2012
The median list price in LA JOLLA, CA this week is $1,775,000.
Inventory has been lightening lately and the Market Action Index has been trending up. These are mildly positive indications for the market.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer’s market to a Seller’s market.
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.
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For more information about La Jolla Single Family Homes, contact Maxine & Marti Gellens