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
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