La Jolla - Week of May 19th, 2014
Single Family Homes
This WeekThe median list price in LA JOLLA, CAthis week is $2,747,500. The 186 properties have been on the market for an average of 153 days. Inventory is up and Market Action is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit. Supply and DemandHome sales have begun exceeding new inventory. This is a Buyer's market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller's zone, we may see upward pressure on pricing. |  |
Median Price
Again this week we see a downward notch for prices. Prices continue to pull back from the market's highs. The Market Action Index is a good leading indicator for the durability of this trend.
Inventory of Properties Listed for Sale
Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.
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