La Jolla Is The Most Expensive Real Estate Market
Coldwell Banker has released their 2009 Coldwell Banker® Home Price Comparison Index (HPCI) and found that La Jolla, Calif., is the most expensive market. In fact there is an over $2 million gap between what they deem the most expensive and most affordable U.S. housing markets. The comparison of similar 2,200-square foot homes in 310 U.S. housing markets found that the average home price in La Jolla is $2.125 million while at the other end of the spectrum, Grayling, Mich., was the most affordable market in America, where a similarly sized home costs $112,675. California fared badly, 13 other California markets are on the most expensive list while Grayling was one of 20 Midwest communities on the most affordable list (others include Akron, Canton, Detroit and Wichita).
Looking at four-bedroom, two-and-a-half bath homes in the United States, thirty percent of the markets show this type of home to be below $200,000, while half of the markets surveyed showed an average price for this type of home to be less than $300,000 meaning there are deals out there. The cumulative average sales price of the four-bedroom homes surveyed in the 310 U.S. markets (including one in Puerto Rico) covered in the Coldwell Banker HPCI is $363,460.
The mention of La Jolla gave me a chance to check in on one of my favorite estates which happens to be in the seaside town. The Razor was once listed at $39 million, it was $32 million when I covered it in April and is now down to $28 million.
Reader Comments (Page 1 of 1)
nikofication Sep 25th 2009 8:39PM
Beautiful house in my home town
wzsteen Sep 27th 2009 6:09PM
Wow, that does look like a very nice place!
T
www.total-privacy.net.tc
mikeriley Sep 27th 2009 9:15PM
LaJolla might be pricey but it's also absolutely gorgeous :)
~MJR
web Sep 30th 2009 8:21AM
How can you compare La Jolla with Grayling? "where a similarly sized home costs $112,675." I doubt there are many similar sized homes, Grayling is all summer cottages and deer hunting.
This is the kind of place where they voted taco bell the "Best Mexican Food in Grayling" award. (because it is the only Mexican)
JD Sep 30th 2009 9:16AM
There's a big ol' asterisk on this report: Manhattan was not included in the survey. NYC surely would have surpassed La Jolla if 2,200 square foot apartments in Manhattan were included.
Jason D Nov 14th 2009 1:15AM
So lets say I have a bundle of money and lets say I want a place by the sea and by having a load of greens I might have a public face that people may be interested in my private life.
Ok hang with me here...maybe some of you are ahead of me here but if I have a multi choice of property in La Jolla of which especially now there seem to be quite a lot of available spaces of various sizes and prices why would I buy a place which some might like the minimalist approach to property but one where every second of my life bar the bathroom breaks and the garage are on display to whoever feels like looking.
I may have a privacy issue but if I'm worth this kind of money I am not someone who wants this kind of (bar the pun) exposure, however nice this place is I'd spend the extra millions and have the conversion windows where one press and they go bright (and private) white, which with my preferences would be an almost perminant position or for the cheaper amongst us perhaps the reflective one way glass.