La Jolla Real Estate Blog

According to Merriam-Webster, the word "dream" is defined by "a series of thoughts, images, and sensations occurring in a person's mind during sleep."  For many people, dreams include items and thoughts in which we hope to make come true.  For me, real estate is always a part of my thoughts and the most expensive homes in San Diego is certainly something I like to dream about.  

Below are some of the most expensive homes for sales in San Diego.

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La Jolla Median Home Price July 2017

Year-to-date, there have been 187 sales (through July 2017, not including condos) in the 92037 zip code.  This figure is down 9.7% from the previous year and down 40.6% comparing July 2016 and 2017. The median home price however, is up 6.7% YTD in La Jolla and the median condo price is up 12.9% YTD. At $2.1M, La Jolla's median home price is more than 3.5 times San Diego County's median single family home price of $595,000 (which is up 8.2% YTD).   

 

La Jolla's inventory continues to stay low, with nearly 12% fewer new listings this year.  Countywide, San Diego has seen 10.4% fewer listings year-over-year, but only 0.6% drop is closed sales.  The lack of inventory has contributed to a steady rise in home prices and is keeping the sales price

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Looking at May's monthly indicators for La Jolla, it looks like the market is still doing very well.  Year over year, May saw a 15.2% increase in the median home price,  bringing La Jolla's median detached home price to $2,477,500.  Year to date, the median home price is only 2.6% higher than May 2016's median home price.  And although there was 18.9% fewer closings this May, there were 18.8% more new escrows versus the same time last year.  Through the month of May, there has been 9.1% more sales this year than the same time last year, brings the total closed sales (detached homes in 92037) to 60.

La Jolla continues to have low housing inventory and increased demand.  And while it's not completely lopsided, it is more of a seller's market than a

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The Muse Condos La Jolla Located at 1020 Prospect Street, The Muse condos in La Jolla are some of the nicest (and most expensive) condos in San Diego.  With only 16 residences, this ultra high-end condo development is truly unique.  For starters, The Muse is located in the heart of The Village of La Jolla, which is the most central and walkable neighborhood of La Jolla.  You're right next to restaurants like George's at the Cove, Herringbone and Eddie V's, and you're also right next to the Museum of Contemporary Art, the beach, grocery stores and tons of other conveniences.    

The 1st level only has two residences on the west side of the building that range from a 2BR+Den/2.5BA condo with about 2,254 sqft (plus a 1,045 sqft patio) to a 3BR/3.5BA condo with 2,396 sqft (plus a

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Denny Oh La Jolla Light

I moved to San Diego in 1998 as a UCSD freshman and quickly fell in love with San Diego.  And even though being hours away from my parents may have played a big role in it, fast forward nearly 20 years later and I'm still in love with San Diego. Recently, the La Jolla Light published a "Business Spotlight" article about me moving to La Jolla.  I'm so excited to be in the new Global Headquarters office for Pacific Sotheby's International Realty and to be part of this amazing community.  Thank you!

You can read the full La Jolla Light article here.  Denny Oh 858-243-2092 denny@sandiegoh.com

 

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