Real Estate Tips: La Jolla Market Update, March 2020

With all that is going on in our world right now, I’m sure a lot of people might be thinking that the real estate market is headed for a downturn. However, the market itself isn’t as volatile as say mortgage rates or the stock market. It takes time to absorb the impact of the multiple variables that contribute to it’s health. Thus, since we only saw two weeks of the COVID-19 updates to the March market, you’ll see that numbers remain somewhat strong. Since this is our busiest time of year, we will really be able to see the year over year data once April’s analysis comes out. Until then, watch below for my rundown on how the market stands as of now.

• Number of Homes Sold: 29, +11.5%

• Number of New Listings: 52, -33%

• Average Days on the Market: 44, -22%

• Median Sales Price: $2.15M, +4.2%

If you are wondering if it is a good time to buy or sell, or you need to buy or sell, reach out to me. It is truly a case by case basis. From there, we can develop a plan that will work best for you based on your goals.