Real Estate Tips: La Jolla Market Update, May 2020

I am perplexed by the numbers this month, as not only did my lender fund $1.1 Billion in loans (a new record!), but the market I’m seeing is hot and you must act fast if you are a buyer. Things are going pending within days with multiple offers if priced right. Seeing these numbers is not reflective of that, but perhaps it’s because I’m seeing a different story show up before me. All in all, things are down, and buyer’s have more of an advantage in La Jolla than they’ve had in years. See the full run down in my 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’re thinking of buying reach out to me. It is a good time to take advantage of the low interest rates and opportunity to negotiate the sales price :)