La Jolla, CA Market Report for the Week of January 7, 2013
The median list price in LA JOLLA, CA this week is $2,750,000.
Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Supply and Demand
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Despite this week’s down tic, the price trend remains upward for several weeks. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
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For more information about La Jolla Single Family Homes, contact Maxine & Marti Gellens