La Jolla $22,500,000

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:

$18,450,000 Cash

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:

Here’s the all-time history above $15,000,000 on the street:

The Final Stretch

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!

365 Marine Street, La Jolla

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!

Zillow Local Forecasts

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:

NW Carlsbad, 92008:

SE Carlsbad, 92009:

NE Carlsbad, 92010:

SW Carlsbad, 92011:

Carmel Valley, 92130:

Del Mar, 92014:

Encinitas, 92024:

La Jolla:

Rancho Santa Fe, 92067:

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.

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