Pacific Beach Real Estate Market Slumps to Contracts Low

There were 32 homes sold in the Pacific Beach market over the last 30 days, while 39 contracts were executed. This marks the lowest amount since July, and could be a sign that the market is weakening. When comparing other close-by neighborhoods within the same period, the most came from the La Jolla neighborhood with 57 contracts executed. The median sales price rose to $665,000, up from last week's $663,750. Along with the increase in sales, the fact that there are a lower-than-normal two months of inventory indicates that Pacific Beach is a definite seller's market.

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Demographic facts about Pacific Beach:

  • The median value of all homes in the area is $473,409.
  • The area gets 42 rainy days a year. (U.S. average: 100)
  • This area has an unemployment rate of 9.2%.
  • For every teacher there are 17.2 students in this area. (15.3 = national average)

Data reported through 10/13/2016

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