La Jolla Real Estate
One of San Diego’s most affluent neighborhoods, La Jolla is popularly known as the jewel of Southern California. The name itself is a corruption of the Spanish word “la joya”, which translates to "the jewel". A seaside community built on 7 miles of pristine Pacific Ocean coastline, La Jolla is bordered on three sides by the sea and by Mount Soledad on land.
La Jolla also features world-class fine dining, art galleries, museums, luxury hotels and upscale boutiques. Prospect Street, La Jolla's main shopping thoroughfare, is often compared to Rodeo Drive on Beverly Hills. In addition to all the glitz and glamour, La Jolla is a center of higher education and cutting edge biomedical research. The area is home to the San Diego chapter of the University of California, Scripps Institution of Oceanography, Scripps Research Institute (one of the largest non-profit biomedical research organizations in the world) and the Salk Institute.
La Jolla is renowned for its striking natural beauty and pristine white sand beaches along its long shoreline. Surfers, scuba divers and even seal watchers all descend on La Jolla's many public beaches to enjoy the surf, sand and local wildlife. La Jolla also boasts not one but two golf courses, including the Torrey Pines Golf Course, an annual fixture in the PGA Tour.
A high-end Southern California beachfront community just a few minutes’ drive from downtown San Diego, La Jolla has some of the highest home prices in the country. The average listing price for a single family home in La Jolla, as of August 2014, was just under $3 million while the median sales price for the same period was $788,000. Bear in mind that La Jolla consists of a high number of luxury properties that routinely list for 5, 10 or 20 million dollars which disproportionately skews the average listing price. The median sales price is a more accurate representation of what the bulk of La Jolla real estate goes for.