Billionaire philanthropist Ted Waitt, who in recent months has bought a house in Beverly Hills and listed another for sale in Hollywood Hills West, has put his estate in La Jolla on the market for $22.9 million.
The OC Register is reporting that million-dollar sales in Orange County are down 12% this mid-summer. We’re watching the sales counts closely, because we know that is the leading indicator for the market.
How about our north county coastal region?
The OCR only looked at zip codes that had a $1,000,000 median sales price, which in our case, excludes all four zips in Carlsbad.
Here are the stats on the Encinitas-to-La Jolla sales over $1,000,000 (where 91% of the active listings today are over $1M) between July 13th and August 11th:
# of Sales
Our $1M sales count was up 9% YoY, instead of down – yippee! But nobody in this market should get giddy about pricing in general – it is flat, at best.
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