The single family homes median list price in LA JOLLA, CA 92037 this week is $2,996,500.
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
Home sales have been exceeding new inventory for several weeks. Since this is a Buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller’s zone, and we are likely to see upward pressure on pricing.
Prices in this zip code seem to have settled around a plateau.
Look for a persistent down-shift in the Market Action Index
before we see prices deviate from these levels.