Real Estate Tips: La Jolla Market Update, August 2020

When looking at the data each month, I find myself diving in deep to fully analyze. Comparing month over month and year to date, as last months numbers represent an increase in 37% in median sales price, and this month we’re down 18%. The theme is clear that each month varies drastically from the next. The market is still hot due to low inventory and very low interest rates, but when it comes to year to date data (also shown below), we remain steady if not below the numbers from last year. I think since the agent community (as far as I know) was anticipating a slow down this year due to the election, the increased activity is somewhat shocking. For my full run down, watch my video below.

August 2020 - La Jolla, CA Detached Homes

• Number of New Listings: 75, 14%

• Number of Homes Sold: 45, +32%

• Median Sales Price: $2.04, -18%

• Average Days on the Market: 59, +4%

Year to Date 2019 vs. 2020

• Number of New Listings: 504, -7%

• Number of Homes Sold: 213, -11%

• Median Sales Price: $2.2M, +5%

• Average Days on the Market: 55, 4%

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 :)