Pick City: La Jolla (Dec.9, 2013)

La Jolla - Week of December 9th, 2013

Single Family Homes

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This Week The median list price in LA JOLLA, CA this week is $2,995,000. The 163 properties have been on the market for an average of 164 days. Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the market. Supply and Demand The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

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Median Price

The market seems to have paused around its high point. The Market Action Index is a good leading indicator  or the durability of this trend.

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Inventory of Properties Listed for Sale

Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is hanging with the available supply.

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Data Provided by and Copyright Altos Research LLC