The decrease in prices is a sign that home sellers are becoming more reasonable, while a positive buyer response to this change is encouraging
La Jolla, CA (Vocus) November 9, 2010
A market leader in La Jolla homes sales, LJ Platinum is revealing year-to-date statistics that indicate an increase in home buyer activity during 2010. The company has seen a 14% increase in the number of homes sold, with only an 8% decrease in median prices. In addition, the average market time for the agency’s properties has decreased by 4 days.
“The decrease in prices is a sign that home sellers are becoming more reasonable, while a positive buyer response to this change is encouraging,” said Dane Soderberg, President-Broker at LJ Platinum. “While the median price has ticked down, we have two very encouraging stats with the reduced time it takes to sell a home and an increase in the number of homes to sell in 2010 compared to 2009. For so long price declined with no response in buyer activity. We now see the buyers responding favorable.”
LJ Platinum serves many areas in and around San Diego and Southern California, centered on its arsenal of La Jolla CA houses. These include neighborhood properties, equestrian estates, resort properties, and oceanfront homes. Some of the country’s most prime real estate is covered in the company’s catalog.
The average time a home is on the market has decreased and the number of La Jolla home sales has surpassed LJ Platinum’s’ figures for 2009. San Diego is the third top market in the United States for real-estate investors, according to the Wall Street Journal. Buyers are acting on the change in home values, bringing efficiency to the La Jolla real estate market, but this also indicates that they are less nervous than in years past.
“We seem to be reaching equilibrium between buyers and sellers. In past years, nobody was buying, but now buyers are showing signs of stepping off the sidelines. The current numbers are hard evidence that the market is improving,” added Soderberg.
About LJ Platinum
LJ Platinum serves the real-estate market of La Jolla and other parts of the Southern California coastline. The company’s teams of La Jolla real estate agents is long-term residents and specialize in properties located in quiet neighborhoods, on the oceanfront, or on resort or equestrian estates. Connected to an exclusive network and maintaining long-term relationships with homeowners, the team often helps buyers locate properties quickly and before they go on the market.