Single family homes average LIST price went up 24% ($4,002,923 from $3,216,732) but the average SALE price only went up 8% ($2,994,493 from $2,784,303).
Condominiums average LIST price went up 33% ($1,206,496 from $909,939) but the average SALE price only went up 10% ($971,754 from $$880,633).
What this tells us about the La Jolla housing market is that the demand in La Jolla continues to be strong. Covid-19 brought many buyers from more dense markets, e.g. San Francisco, L.A., and the east coast looking for sun, space and beach living at a more affordable price. Yes more affordable. We are a value compared to large, urban cities.
Pacific Beach Highlights:
January - August, 2020 single family homes LIST price went up 3% ($1,683,590 from $1,627,580) but the SALE price went down 10% ($1,318,606 from $1,459,050).
Even more interesting, condominiums LIST price went
up 3% ($833,096 from $811,361) and the SALE price went up 6% ($725,866 from
What this tells us about the Pacific Beach housing market is that list pricing went up due to the lack of inventory, but for single family homes buyers are not willing to pay the higher prices even though we have record low interest rates. We speculate that the condonimum rise in price may have come from the desire for second and vacation properties by the beach where people can retreat during Covid-19.
Interested in receiving listing alerts for certain neighborhoods? Curious what your home is worth?