LA JOLLA, Calif., March 6, 2015 /PRNewswire/ — The luxury market in La Jolla began 2015 with a record-breaking number of high-end sales at a pace not seen since 2005.
"The first 60 days of 2015 in the La Jolla luxury real estate market forecast a promising year with six La Jolla homes over $5M trading, while in the same time frame in 2014 there was only one sale over $5M," said Joy Bender with Pacific Sotheby's International Realty. Total units traded in La Jolla are up 10.3% year over year.
Data calculated January 1, 2015 through February 28, 2015 and compared to 2014, 2013 and 2012.
"HNWI buyers have had their eye on the market watching inventory and prices over the past few years. Many trophy properties debut with substantially higher list prices than the final trade, and come on and off the market multiple times. The top six homes in 2015 traded on average 70% of original ask," added Ms. Bender.
The world's UHNW population grew by 6% between 2013-2014, according to a report released February 2015 by private wealth consultancy Wealth-X and Sotheby's International Realty. The U.S. accounts for 35% of the global UHNW population, 79% own two or more residences and secondary residences are 45% more valuable and twice as large.
La Jolla is southern California's "Jewel By The Sea," known for world class dining and shops, prominent art and wine festivals, as well as seven miles of breathtaking coastline.
About Joy Bender: Joy Bender, a top-grossing agent with Pacific Sotheby's International Realty, specializes in San Diego's luxury real estate market and confidential representation of UHNWI and HNWI. Noteworthy sales by Joy Bender include 2938 Sandy Lane in Del Mar, which was the most expensive on market home sold in San Diego County for 2014. For more information, visit http://www.luxurysocalrealty.com or call her direct line at (760) 212-2717.
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