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La Jolla Real Estate Market Update

The La Jolla Real Estate Market has always been consistent with its strong sales, especially over the past 5 years

Despite the community’s luxurious living, La Jolla real estate market remained strong throughout the downturn of the market.

For more information about La Jolla  real estate, visit our community page here.

La Jolla Real Estate

In 2002, La Jolla was voted as the “The Best Place To Live In America”  which paved its way to a booming La Jolla real estate market. The average home value in the La Jolla community is $1,436,300, almost 3 times higher than the average home value in San Diego which is only $490,000. La Jolla home values have gone up 6.9% over the past year. Experts believe prices will rise another 0.6% within the next year, there has been at least 1,752 homes sold yearly which means La Jolla real estate is still selling like hot cakes even if homes are a bit more expensive. Median sold home price is $1,172,850.

Did you know that a La Jolla real estate median price per square foot is $700? That is way higher than the San Diego average of $350. Right now, there are 276 homes listed in La Jolla with an average price of $1,595,000. If you want to rent a place in La Jolla, the average rent price in is $4,800, which is again higher than the San Diego rental average of $2,000.

Though experts say that foreclosures will be a factor impacting home values in the next several years for La Jolla real estate, the communities’ foreclosure percentage is still lower than most of San Diego real estate. In La Jolla only 1.5 homes are foreclosed per ten thousand. That is lower than the San Diego value of 1.7 and also lower than the national average of 4.9.

What is it about La Jolla that people would pay so much for? You can find out more about it in our recent article The Jewel of San Diego and on our community page for La Jolla Real Estate

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