October 8, 2013 BY Utechservs
The last five years were tough in the real estate market for most of the country. This may have influenced many considering buying a home to be cautious, afraid of investing in a home that may lose its value. However, in La Jolla the demand for luxury homes has only increased, along with their values. Over the last five years, home values have increased and seem to continue to be on an upward trend, making the demand even greater.
The average sale price for homes in La Jolla five years ago was an estimated $802,500, which increased to $835,000 in 2012 and was at $945,000 between June and August this year. This is a 13.2% increase over last year and an almost 18% increase over five years ago. Yet the amount of homes sold is down over last year by 23%, possibly due to the higher demand and lower supply.
If you have been walking the fence on whether now is a good time to invest in a new home, consider property in La Jolla. From luxury mansions to condominiums, the market has proved to be favorable for those who buy in this beautiful community. Let me show you what La Jolla has to offer, you won’t be disappointed!