Real Estate Tips: La Jolla Market Update, April 2020

This is one that I was even shocked to see. The one thing I want to point out here before diving into the data, is it is a comparison against our busiest time of year, so the numbers may seem staggering, but I can assure you from my own experience, buyers are buying and sellers are selling. In fact, this past weekend, a house in the La Jolla Village went on the market Friday, and by Monday it had multiple offers at a price point of $2.395M. Because interest rates are down, buyers are trying to take advantage, but there is such limited inventory, there isn’t much to choose from. For the full run down, checkout the video below.

• Number of Homes Sold: 28, -67%

• Number of New Listings: 12, -63%

• Average Days on the Market: 41, -16%

• Median Sales Price: $2.5M, +30%

If you are wondering if it is a good time to buy or sell and want to talk things out, 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.