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Homes in La Jolla Sitting on Market for Nearly 100 Days

The media home price in La Jolla for January 2011 was $1,266,208 compared to $390,000 in San Diego County.

Home sales are off to a slow start in La Jolla this year.

Data provided by the Greater San Diego Association of Realtors shows that the median price of a previously owned single-family home fell to $1,266,208 in La Jolla in January This is a decreased of 11.6 percent in median price from $1,413,178 for the same period last year.

The median price decreased, the number of home sales decreased from 14 to 12 and the average number of days on the market increased to an average of 96 days of the market for the same period. Price, number of sales and the average days on the market are the three indicators SDAR monitors for individual ZIP codes in San Diego County.

By comparison, sales saw a seasonal drop in January and prices remained higher than they were a year ago for the county as a whole, according to SDAR.

In San Diego County, the median home price of previously owned single-family homes was $390,000 last month. This figure was lower than the previous month, but 12 percent higher than a year ago.

“I firmly believe 2013 is going to be a great year for real estate, and I’m really pleased to see signs of that in these numbers,” said SDAR’s Board President Linda Lee said in an announcement. “Interest rates remain extremely low and more inventory is entering the market. It’s am encouraging time.”

For a weekly review of homes sold in La Jolla, please follow Gary Kent's column on La Jolla Patch. Kent reviews standout homes and stats on a weekly basis.

He reported that a total of 11 homes sold from Jan. 28-Feb. 3 in La Jolla., two of them for more than $1 million.

The standout sale from that week was of a $1.62 million ranch-style Bird Rock home, according to Kent.

He said, "this inviting residence features a guest house, high ceilings, ocean views, two patio lounges, and a location just a few blocks from the shopping and dining of Pacific Beach."

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