LA JOLLA, CA, Market Report for the Week of February 3, 2013
The Market Action Index has been climbing lately while days-on-market are trending down, these point to a positive near-term outlook for the market.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.
Again this week we see a downward notch for prices. Prices
continue to pull back from the market’s highs. The Market Action Index is a good leading indicator for the durability of this trend.
CLICK HERE to download the full market report for LA JOLLA, CA.
For more information about luxury single homes in LA JOLLA,CA contact Maxine Gellens.