La Jolla Market Report for Week of July 9, 2012
Week of July 9, 2012
The median list price in LA JOLLA, CA this week is $1,595,000.
With inventory and days-on-market basically unchanged and the
Market Action Index decreasing, the market is not sending strong
directional signal for the near-term outlook.
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.
Prices continue their climb again this week. We’re a long way
from the market’s price high-point so watch the Market Action
Index as an indicator of how long this trend will last.
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