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LV III 🌠

@444aqualv

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LOCAL MARKET UPDATE 🌴 The Southern California market continued its trajectory of double-digit price increases from the Central Coast to the South Bay. Single-family homes in La Jolla saw a median sales price decrease of 7.3 percent. The average days on market in La Jolla has been 17.  Historic low inventory levels across the region caused home sales to falter in almost every market. Even potential sellers with significant equity gains chose not to sell right now. Though inventory constraints did not stop motivated buyers from hoping to take advantage of lower interest rates before they increased, “Where will I go?” remained the sentiment. Buyers were out in full force making multiple offers and paying above asking price to secure the “winning bid.” Now that interest rates have began to rise, what are your thoughts on the shift in market?
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Happy Friday! Doesn’t get more beautiful than La Jolla Cove in the Springtime. Grab your friends & family and head to La Jolla this weekend to eat, shop, dine & play! 📸 @444aqualv
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