Epic San Diego Surf
This was filmed from Coast Blvd. near the La Jolla Tide Pools:
And this one from further up the coast:
This was filmed from Coast Blvd. near the La Jolla Tide Pools:
And this one from further up the coast:
This may be the only time we ever tour a house at this price point!
The highest-priced La Jolla residential sale ever was $24,700,000 (8466 El Paseo Grande) in 2020.
Now there are three for sale in the $30,000,000s!
I’m pretty sure this is the house that had the monster crane hanging over it for a couple of years.
This guy is a former Compass agent who now makes a living from doing video tours of homes for sale. It kind of sounds like what I do, but he has 3.5 million subscribers and this video has over 4.6 million views!
The sale did close for $22,500,000 in April, and the buyer was the owner of the Super Star Car Washes which you see all around town:
Wondering how the local market can survive higher mortgage rates? It starts with the cash buyers laying the foundation of comparable sales, and financed buyers deciding if they can keep up.
Thanks to Julie Chang for posting this data – her thread of comments here:
Here’s the 7,509sf home on La Jolla Farms that just sold for $18,450,000 cash, which was a whopping 6% below the list price. The market time was 12 days.
You can tell in this photo that the backyard was tired, but the rest of the one-story house looked fine. Even though there had not been any similar sales on this street since Alicia Keys paid $20,800,000 for an architectural gem back in 2019, it shows that when the affluent sees a house they like, they pay the man:
https://www.compass.com/app/listing/9438-la-jolla-farms-road-la-jolla-ca-92037/1126953178641491121
Here’s the all-time history above $15,000,000 on the street:
I’m not an expert but today’s surf was for the record books!
We are wrapping up in La Jolla this week!
The Beach-Barber Tract is probably my favorite neighborhood in La Jolla, and is an eclectic mix of new and old that are close to both the beach AND village. A block down from our sale is this teardown that just sold for $6,000,000. The seller also owned the house next door to it, and he was the one who bought Mitt’s home – and just moved across the street!
It is a true honor to have listed for sale my favorite home of all-time!
365 Marine St., La Jolla
3 br/3.5 ba, 2,894sf
YB: 2018
LP = $6,950,000
This custom contemporary was designed and carefully-crafted for over three years to be the ultimate beach house just 100 yards from the sand! The main living area has floor-to-ceiling glass panels that open dramatically to create the perfect indoor-outdoor experience with breath-taking 180-degree ocean views over Marine Street beach! The interior is loaded with so many custom features that they make this home downright sexy! Ample off-street parking and an easy walk to the village too. Architect Mark Morris said in his 20+ years of designing super-custom modern-contemporary homes in the area, this is his favorite project of all-time. The ultimate in modern contemporary design – it’s a trophy property!
https://www.compass.com/app/listing/365-marine-street-la-jolla-ca-92037/1050797924033993089
The Zillow 1-Year Forecasted Values are down 1-2 points from their previous guesses last month, but still very strong. This is their third consecutive month with similar forecasts:
For those who are steeped in real estate history, it’s hard to comprehend how prices could increase 25% to 30% this year – to think pricing could go up ANOTHER 20% next year is straining the brain!
I think it will happen, and be accomplished by mid-summer.