Here are the summary statistics from the MLS for November and December for La Jolla, CA. As you will see, the inventory has dropped off in the last month, and there has been a small drop in prices when one compares December to November 2006. However, like other expensive communities, the statistics fluctuate each month depending on the homes that have sold, since high prices can affect the median, and more so, the average, fairly significantly. Despite these changes, and because of its desirability as a place to live or retire, La Jolla remains one of the most expensive coastal San Diego communities and draws many buyers seeking one of the many ocean view or ocean front homes and estates that are available, albeit at a hefty price.

La Jolla is located about 15 minutes north of San Diego and is referred to as "the jewel." This community is incredibly picturesque, with homes cascading down the hills to the ocean, and views from many are spectacular you can see for miles up and down the coast depending on your vantage point, although coastal fog and the marine layer may obscure those views from time to time. The town itself offers many amenities including ocean front restaurants and upscale shopping, and is a popular tourist destination as well. La Jolla is also known as the site of UC San Diego, the Scripps Research Institute and the Oceanographic Research Center, the Torrey Pines Hang Gliderport, and the famed Torrey Pines Golf Course (site of recent PGA tournaments), among others.

If you are interested in buying here, know that unless you can spend at least $1M you will not find much in the way of detached homes. Right now there are only 3 (just under $1M), and 16 are listed between $7M and $21M. Keep in mind that the marketing times are representative only of the homes that are currently listed; a number of homes have been listed previously and so the actual time on market can be much longer. It is not unusual, however, for some waterfront or view homes to sell very quickly, and for cash; there are always luxury buyers on the lookout for these types of homes, and in some areas finding a listing is very rare so competition can be stiff. There have been many new condos in the last year or so, especially at the extremes, which has impacted the statistics for attached homes.

If I can provide more information about La Jolla and the market, answer any questions, or assit you in your home search or sale in any way, please don't hesitate to ask.