COMMUNITY INFORMATION
This community of La Jolla is an enchanting seaside village located 15 minutes from downtown San Diego within the state of California. There are approximately 47,283 residents in this community and 19,509 households. The median age of residents is 38.5 years.
TEMPERATURES
The temperature in La Jolla is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 73°F. The coldest time of year occurs in December with average temperatures falling to 58° F.
HOME AND REAL ESTATE PRICES
The housing options in La Jolla include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:
· One bedroom townhouse / condo starts in the high $200,000s.
· Two Bedroom townhouse / condo starts in the high $300,000s.
· Three Bedroom townhouse / condo starts in the high $500,000s.
· Two Bedroom single-family house start in the low $700,000s.
· Three Bedroom single-family home start in the mid $700,000s.
· Four Bedroom single-family home start in the high $900,000s.
REAL ESTATE MARKET TRENDS
As with most products and services in the United States, price shifts in the real estate industry are subject to the forces of supply and demand. Whether it’s a buyers market or a seller’s market, it is useful to evaluate home sales data for the most recent month available (June 2006), compared against the same period in the previous year (June 2005).
The median price of single-family homes jumped from $1,542,500 in June 2005 to $1,692,500, which represents a 9.7% increase. However, fewer homes sold in June 2006 (28 homes) compared to June 2005 (38 homes). Homes also took longer to sell in June 2006 (96 days) compared to June 2005 (59 days).
The median price of condominium and townhomes dropped from $647,500 in June 2005 to $598,500 in June 2006, which represents a 7.6% decline. Moreover, fewer homes sold in June 2006 (28 homes) than in June 2005 (38 homes). Homes also took longer to sell in June 2006 (102 days) compared to June 2005 (62 days).
Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to understand enduring market trends.
SCHOOL INFORMATION AND COMPARISONS
The students in La Jolla are served by the San Diego City Unified School District. These students undergo annual testing to evaluate their academic performance. The results of these tests are combined by the California Department of Education into a composite score known as the Academic Performance Index (API), which has a range of 200 to 1000. The statewide goal for schools is to achieve a score of 800 or above.
Based on the most recent data available as of July 31, 2006, the highest-ranking elementary school in La Jolla is Bird Rock Elementary (API=948), followed by Explorer Elementary Charter School (API=925), La Jolla Elementary (API=902), and Torrey Pines Elementary (API=902). Murilands Middle School had an API score of 860. Regarding the high schools, La Jolla Senior High had an API score of 834, and Preuss Model School at UCSD had an API score of 861.
www.sdhomedatabase.com
www.pacific-beach-homes.com
www.rereport.com/sdccsd/lall/
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