For the second straight year, La Jolla is the nation's most expensive housing market, according to Coldwell Banker's home price index.
The real estate brokerage bases its rankings on the price of 2,200-square-foot homes with four bedrooms and 3½ baths. The La Jolla price was listed at $2,125,000, up $282,333 or 16.6 percent from last year.
The lowest-priced similar home went for $112,675 in Grayling, Mich., a town of about 2,000 that calls itself the “canoe capital of the world.” La Jolla calls itself “the jewel.”
La Jolla and No. 2 Beverly Hills were the only markets among the top 10 that saw a price increase from 2008. San Mateo experienced the biggest drop, down 20.2 percent. Of the top 10, all but Boston and Greenwich, Conn., were in California.
The most affordable markets were in Florida, Georgia, Kansas, Michigan, North Carolina, Ohio, Texas and Wisconsin.
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