LA JOLLA, CA Market Report for the Week of July 29, 2013
The median list price in LA JOLLA, CA this week is $2,650,000.The Market Action Index has been trending down lately, while inventory is climbing. These trends imply a weakening market.
Supply and Demand
In terms of supply and demand, the market is getting cooler – more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a Buyer’s market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed. Look at the descriptive statistics where you may notice the homes being listed are larger and younger than they have been in the past.
Price
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.
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For more information about single family homes in LA JOLLA, CA, contact Maxine Gellens.
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