Snapshot: La Jolla
In 2014, La Jolla’s median home price ($1,916,861 at the time) earned it the 109th spot on Forbes’ America’s 500 Most Expensive ZIP Codes. If you’re only familiar with the affluent San Diego neighborhood through images of its multi-million-dollar-ocean-view homes, you might be surprised that the median price is so low. But do a quick search of real estate listings in the 92037 ZIP code, and you’ll find everything from modest homes for under $500K to opulent estates in the $30M range.
La Jolla varies not only in its real estate price points, but also in its area vibes. One of our favorite parts of La Jolla is the Village of La Jolla – otherwise known as “the Village,” and not to be confused with La Jolla Village. Here you’ll find a cozy, chic, walkable seaside community that’s equal parts flip-flops and Fendi.
Our buddy Ryley Noonan, a LaJolla Realtor describes the neighborhood’s distinct character as an “eclectic mix of upscale and old world, with a small-town kind of feel to it.” At the moment, Noonan says, there’s not a ton of real estate inventory. He found 48 listings in the Village altogether, and below is a sampling of what you’ll find. It may not be a huge amount of inventory, but it’s sure dreamy.
Single family homes
$865,000 – This two-bedroom, two-bath home has 1020 square feet and is currently the only detached single family home in the area that’s on the market for under $1M. [view here]
$22.5M – This ocean front property has seven beds, ten baths, 9729 square feet, and panoramic views of the water. [view here]
$549,900 – One bedroom, one bath, 795 square feet. Skylight, vaulted ceilings, two assigned parking spaces. HOA = $250/mo. [view here]
$5.5M – Three bedrooms, three and a half baths, 3538 square feet, expansive water views, and a private elevator entrance. HOA fees= $2000/mo. [view here]
There’s plenty of modern fine dining and upscale shopping in the Village, but part of the neighborhood’s charm revolves around the small businesses that have been around for decades thanks to the loyalty of long-time residents: Warwick’s (since 1921 or 1934, depending on how you look at it), Adelaide’s Flowers (since 1936), the Ascot Shop (since 1950), and Girard Gourmet (since 1987) to name a few of our favorites.
Area schools are top-rated, and the neighborhood is also home to a number of top-notch events and venues: the La Jolla Farmer’s Market; the La Jolla Art & Wine Festival; the Concours d’Elegance (a showcase of Bentleys, Bugatis, Cadillacs, and Rolls Royces); and the La Jolla Athenaeum Music and Arts Library (one of only 16 membership libraries in the United States). You’ll want to keep an eye on local events calendars for sure.
La Jolla Economy*:
Unemployment rate: 6.0%
Median household income: $97,483
Median Sales Price: $1,050,000
Median List Price: $1,395,000
*Data taken from RealtyTrac.com, Sperling’s, January 2015.photo: Philip Lee Harvey/cultura/Corbis