The 2019 year to date activity in the La Jolla
real estate market is consistent with last year; the
median price and six month inventory is essentially
the same as last year. However, the time it takes
to sell has decreased from 87 to only 60 days!
San Diegans recently celebrated La Jolla’s new
performing arts center, also known as “The Conrad”
named after San Diego’s generous philanthropist
Conrad Prebys. The magnitude of the $82M
facility is truly significant and will also serve as
a permanent home for the La Jolla Music Society.
Buyers of La Jolla real estate often boast that once
they arrive, there is no need to leave 92037 for
dining, entertainment or anything else!
The Del Mar market has been hot for several
years and sellers can expect to sell their
properties quickly, in a brief 50 days on average.
Median prices are down very slightly. The number
of closed sales is down 30% quarter to quarter,
but April and May closings are strong and will
boost the overall statistics.
Up the coast in Rancho Santa Fe, sellers
have experienced the largest fluctuation in real
estate activity and value over the past year.
Buyers have been in control and are reaping the
rewards in 92067. Closed sales are down 58%
comparing the first quarter of 2019 to that of
La Jolla
2018. However, the median sales
price has increased by 5% due to
the number of $5+M properties that
have been selling at bargain prices.
The current supply of inventory is
10 months and the average time on
market is 120 days, which is double
what it was a year ago. Buyers
looking for privacy, luxury and
land will continue to take advantage
of investment opportunities in
Rancho Santa Fe this year.
As in 2018, we are again seeing
great real estate opportunities
for buyers in all San Diego
neighborhoods. Inventory is strong
and 2019 is the year to purchase
your first, second or third dream
home in “America’s Finest City”!
Del Mar
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JUNE 2019 | GBSAN.COM 29