Published On: January 6, 2010
La Jolla real estate - For the year of 2009, 244 detached homes sold in La Jolla. The median sale price was $1,450,000 compared with $1,625,000 in 2008 (with 199 sold listings). Sales are up in La Jolla and prices are down. In 2009, the median days on market was 59 and in 2009 is was 75.
This is not the best news for La Jolla homeowners. Prices are dropping and it is taking homes longer to sell.
Below are the detailed sales statistics of 2009
Below is map of all of the homes sold in La Jolla in 2009. As you can see there were quite a few oceanfront sales. The most expensive home sold for $18,150,000 and the lowest priced home was sold for $600,000.
This article was originally posted on my La Jolla Real Estate Blog
Published On: December 9, 2009
22 Homes sold in past 6 months
Median Sale Price - $1,512,000
Median Sale Price per square foot - $602
Average Days on Market - 123, Median - 110
Listings that have expired, canceled, or withdrawn - 51
(Taken by off market date - past 6 months)
Below is a map of the real estate in La Jolla Muirlands that has sold in the last six months.
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Published On: December 7, 2009
Bird Rock is home to some of La Jolla's best restaurants, coffee shops, and stores. Bird Rock real estate is some of the most desired in the area. Sixteen detached homes have sold in Bird Rock over the past six months. The median sale price of homes sold in Bird Rock is $1,365,000 or $654.50 per square foot. The average days on market is 110 and the sale price to list price ratio is 93%.
The median sale price for all homes in La Jolla sold over the past six months is $1,450,000 or $592.00 a square foot. 
Published On: December 2, 2009
La Jolla Country Club is home to some of the most desired real estate in La Jolla. Over the past year, 4 out of the 11 homes that sold were off the market in less than a week. The median sales price for homes in the La Jolla Country Club neighborhood is $2,150,000. The median days on market for sold listings near LJCC was 14, while the whole La Jolla zip code was 77 (not including listings that expired).
Interpreting the data a different way...the 1-2 million price range is the only one that is actually selling. Below are the median prices of everything that hasn't sold near La Jolla CC.
16 Active - $3,995,000
17 Expired - $4,350,000
9 Cancelled - $4,195,000
Below are the property details of the homes sold in the past 12 months. 
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Published On: November 30, 2009
For the month of November, twenty detached homes sold in La Jolla with a median sale price of $1,487,500. In November 2008, the median sale price for the twelve sold homes in La Jolla was $2,175,000. Based on this data, home values in La Jolla have dropped significantly since last year. Sales have almost doubled and the median sale price is $688,000 less.
Comparing data year-to-date this year and year-to-date last year, the results aren't as drastic but still reflect more sales and a lower median price.
January 1 - November 30, 2009 - 213 sales - median sale price $1,495,000
January 1 - November 30, 2008 - 185 sales - median sale price $1,625,000
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Published On: November 29, 2009
Currently in La Jolla there are 86 detached rental listings. For the 46 rentals that are unfurnished, the median listing price is $5,975 per month. For the 40 furished detached rentals in La Jolla, the median price per month is $8,000.
For the 46 attached furnished La Jolla rentals, the median price per month is $3,650 and for the 55 unfurnished condos in La Jolla the median price per month is $2,600.
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Published On: November 24, 2009
Twenty six bank owned condos or townhomes have sold in La Jolla over the past twelve months. Of those, seventeen were east of Gilman in the UTC area of the La Jolla zip code. The median sale price for the UTC area bank owned condos was $342,000. The other 9 bank owned sales west of Gilman had a median sale price of $464,000.
Currently, there are two bank owned condos on the market in La Jolla: 7610 Eads and 8855 Caminito Sueno are listed at $442,000 and 514,900 respectively.
Published On: November 23, 2009
Five plots of land have sold in La Jolla over the past year. The most expensive sale was in the La Jolla Country Club neighborhood. Just under a half an acre sold for 1.2 million at the end of March 2009. The median sale price per square foot of land in La Jolla was $71.55. The average sale price was 89% of the list price. Click the map to view property details of the land sold in La Jolla over the past 12 months.
Currently, there are 16 land listings in La Jolla with a median list price of about 2.4 million. Two plots are available in La Jolla Farms, one for 6.9 million and the other for $8.2 million. The average days on market for land in La Jolla is 166 but that number might be skewed depending on how many of them have expired and re-listed.
Published On: November 22, 2009
Published On: November 21, 2009
La Jolla is home to some of the most expensive real estate in the country. The majority of these homes are in La Jolla Farms, La Jolla Shores, and oceanfront. Currently, there are 16 homes for sale in La Jolla for 10 million or more. Only four homes have sold for over 10 million in the past 12 months. The most expensive home sold in the past year was 1900 Spindrift which is located in La Jolla Shores. The home was on the market for 219 days and sold for $18,150,000. It was originally listed at $33,000,000.
Below is a map of the most expensive homes in La Jolla that are currently on the market. The most expensive home is located in La Jolla Farms and listed at $28,500,000. The property was originally on the market for $39,000,000 and has since been reduced. Click the map to view more details of the La Jolla properties.
Published On: November 20, 2009
Bank owned detached homes in La Jolla are few and far between. Currently, four bank owned detached homes are on the market and one is in escrow. Only nine bank owned detached homes have sold in La Jolla since the beginning of the year. Comparing that to Escondido, which has 466 bank owned detached sales since the beginning of the year, you could say La Jolla is a pretty stable market. The median sale price of bank owned La Jolla homes for the past year is $800,222 and $413 is the median sale price per square foot. Average market time was 29 days. To sum up the obvious, bank owned homes are cheaper and sell quicker than the average home in La Jolla.
To view property details of bank owned detached sales in La Jolla, click the map.
Active La Jolla Bank Owned Listings
Published On: November 19, 2009
For the month of October 2009, twenty-eight detached homes sold in La Jolla with a median sale price of $1,575,000. The average days on market for homes in La Jolla was 122. The average sale price was 91% of the listing price. Click the map to view property details of all La Jolla home values for October.
Are you curious about the value of your La Jolla home?
Call 858-386-2344 for a free market value report.
Published On: November 18, 2009
Six detached homes sold in La Jolla over the past week. For La Jolla Real Estate Sold from November 11th through 17th, the median sale price was $1.45 million. The median price per square foot for detached La Jolla real estate this week was $621.
The most expensive home sold this week was 6106 Camino De La Costa for 8 million dollars. The property has been on the market since August 2008 and was originally listed at $19 million.
Only two La Jolla Condos sold in the past week and the average sale price was $305,000.
For more La Jolla real estate info check out my La Jolla real estate blog.
Published On: November 17, 2009
1. Birch Aquarium at Scripps
Perched on a bluff overlooking the Pacific Ocean, the aquarium features more than 60 habitats of fishes and invertebrates from the cold waters of the Pacific Northwest to the tropical waters of Mexico and the Caribbean.
2. Visit La Jolla Cove
La Jolla Cove is a World famous dive site that is located in the La Jolla ecological preserve. It is a great place to go snorkeling and see the California state fish.
3. Golf at Torrey Pines
Numerous PGA tournaments are played at this La Jolla golf course.
4. Catch the view at Mount Soledad.
Look at the great view over Mission bay at this historical land mark.
5. Museum of Contemporary Art
Visit the museum of Contemporary Art in La Jolla. Find over 300 works with views over the Pacific Ocean.
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Published On: November 16, 2009
La Jolla Bank reported foreclosing on 45 million worth of defaulted loans in the third quarter of 2009. According to a San Diego Business Journal article, "La Jolla Bank is taking a number of corrective actions, including increasing its capital, after receiving a cease and desist order from its primary regulator."
In the San Diego area, La Jolla Bank becomes the fifth bank to receive corrective orders. In a third-quarter report filed with the Office of Thrift Supervision, La Jolla Bank reported $401.6 million in problem real estate loans.
Hall said a large chunk of the bank’s reported problem loans, about $120 million, were modified — with some borrowers paying reduced premiums or getting terms extended, so the loans are now paying down, he said.
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Published On: November 15, 2009
A rare expanse of prime, view-rich property in La Jolla — 22 acres above the La Jolla Country Club that have never been built on — is on the market for $22 million.
The property is being offered as one parcel of land and not as subdivided lots. City planner Mary Wright said the underlying zoning is R1-4, meaning the property could theoretically be divided into about 88 residential lots of 10,000 square feet each.
The property also is subject to strict developmental and environmental rules under the California Coastal Act and any number of state and local land-use regulations.
The community is known for taking land-use issues very seriously. Opponents rose up over high-rise apartment and condo buildings in the 1970s and lobbied for a 30-foot city height limit in the coastal zone. In the '80s, they joined BLOB — Ban Large Office Buildings — when commercial development swept through the downtown La Jolla village area.
View the Listing for the La Jolla Land Here
One of California's most important, finest and last remaining estate sites... and La Jolla's largest singular parcel. Glorious panoramic sea, coastline, village, sunset, and night light views are enjoyed from this legendary approximately 22 acre site in the Country Club area, high above La Jolla's village. Accessed via Encelia, Country Club, and Romero Drives with endless opportunities to create one of the country's grandest residences.
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Published On: November 13, 2009
A recent court case has brought much attention to the seals at that swim and play at the La Jolla Cove.
A judge ruled Friday that harbor seals that have colonized the cove in La Jolla for more than a decade can remain there. That overruled an earlier decision to have the city remove the seals because their waste bacteria was dangerous for humans.
San Diego County Superior Court Judge Timothy Taylor ruled that a state law signed by the governor in July will allow the cove to be designated as a marine park starting Jan. 1, and that there is no reason to evict the animals before then. The move finalized a tentative ruling Taylor made Thursday.
Read more about the La Jolla seals here
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Published On: November 12, 2009
Low inventory is causing bidding wars in San Diego. There are a few ways to get your offer accepted when making an offer on a San Diego property.
1. Pay your own closing costs. Sellers don't like it when the purchase price is inflated because of closing costs. It could have an effect on the appraisal.
2. Pay for your own home warranty, natural hazard disclosure, and termite inspection report. This can add up to less that $500 but shows the seller you are serious about the property and reduces their costs.
3. Pay for the difference if the appraisal comes in low. In other terms and conditions put a clause that states, "If appraisal comes in lower than purchase price, buyer will pay up to X amount to make up the difference. There is a risk that goes along with this so make sure to research the comps.
4. Have your agent build a relationship with the listing agent. Make sure that your agent has asked "What's it going to take to get an accepted offer?" This simple question can help you formulate a stronger offer.
5. Write a letter to the seller. Write a personalized letter to the seller explaining how much you love the property and tell them about yourself. If it is a short sale, tell the seller that if you get an accepted offer you will not be making offers on any other properties.
6. Write out offer details. If your agent is e-mailing your offer to the listing agent, have him/her write out the highlights of your offer in a list in the email. This makes it easier for the listing agent to see the good parts of your offer.
Published On: October 13, 2009
2. Spiff up the roof. Missing shingles and hanging gutters broadcast a loud, scary signal to potential buyers.
3. Clear and caulk gutters.
4. Patch nail holes and repaint.
5. Divorce your smoker and ship your cat to Siberia. Smells are a serious deal killer.
6. Replace damaged vinyl flooring.
7. Reseal toilets.
8. Stop faucet drips.
9. Renew dinged baseboards.
10. Repair cabinet scratches.
Published On: October 1, 2009
A study estimates that 357,000 buyers have been motivated so far by the $8,000 First-Time Homebuyer Tax Credit.
The study by Campbell Surveys, a division of Campbell Communications, calculated the figure by comparing the number of first-time homebuyers before and after the tax credit was instituted. The percentage of first-time buyers rose from 32 percent in January and February to 43 percent for the rest of the year – except July when the rate fell to 42 percent.
Campbell’s Research Director Thomas Popik pointed out that this survey mirrors the numbers calculated by the National Association of REALTORS® and those from Moody’s Economy.com.
The data supports legislative efforts in both the U.S. House and Senate to extend the tax credit.
Source: HousingWire.com, Austin Kilgore (09/22/2009)
Tag: San Diego Real Estate Blog
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