The Begining Of A Crown Jewel: La Jolla’s History & Current Real Estate Statistics -Rina Podolsky Carmel Valley Real Estate_

La Jolla’s zip code 92037 has remained for many years in the list of Most expensive Real Estate areas in the Country and the World. Today, the Real Estate Market in La Jolla has slowed down quite a bit just like many of the other most exclusive markets in the world, however it has not lost so much of its value. Here are the current statistics for the Real Estate market in La Jolla according to the Multiple Listing Service:

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Active Listings: 400

Detached-217

Attached-183

Contingent Listings: 27

Detached-13

Attached-14

Pending (In escrow): 63

Detached-38

Attached-25

Sold in last 30 Days: 42

Detached-20

Attached-22

Of those sold in the last 30 days:

Average Days on Market-96

Average of Sale Price vs. asking price 96%

Average price per S.F.-$540.81

Average Price- $1,216,964

The most expensive Home Sold so far in 2010 was sold for $10,000,000

The most expensive Home Currently listed for Sale has an asking price of $29,500,000

This is what La Jolla Real Estate Market happens to look like today, but if you ever wonder, how did it all begin? Here is a brief look at the History of this Jewel so many people call home.

La Jolla is believed to have been inhabited by Native American cultures and there have been some artifacts that were found and conform this idea, however, there is no clear knowledge of who they were, and what happened to them. The earliest written records that have been found, are scattered records back from 1870, in which the spelling of the area was “La Joya” Which is consistent with the Spanish spelling of the word “Jewel, so it was called “The Jewel”. Some people have argued that the real name comes from the Native American term “Woholle” which means hole in the mountain.

Although there is no certainty of where the name came from, the idea of the area being called La Jolla after the word Jewell does make a lot of sense, it is certainly considered to be one pf the crowning Jewell’s to San Diego, with it’s breathtaking views of the ocean and its mansion lined streets, this area really shines.

This city was incorporated in the year 1850. 1869 is the year where they had the first recorded sale of land in this area, the purchase of these lots, called the “Sizer” lots, was made by two brothers. The cost of the land was $1.25 per ACRE, each brother bought a 80 Acre parcel of land on what is now Downtown La Jolla.

However, the first man to start auctioning pieces of land was Frank Terril Bostford, that earned him the nickname of “Father of La Jolla”.

La Jolla Country Club

This area went from having 350 residents in the year 1900 to having 4000 by the end of the World War I. The economic basis for this area was tourism.

Regarding it’s Architecture, it shifted from being mainly cottages to a Spanish Mission Style. However by 1929 with the Market crash and the economy collapsing, the area saw almost no new construction for the following 10 years. It was until the beginning of World War II that the area saw a new boom, this time the hills adjacent to this area were also includes in the new development of the area. At the end of the War, many people made thi area their home and a new growing spur was visible. The surrounding areas were made into subdivisions.

By 1960 La Jolla had 17,000 people calling it home and today there are about 40,000 residents.

Another historical fact that put La Jolla in the History books, was the fact that Charles Lindbergh learned to fly his gliders, flying out of the top of Mt. Soledad. Today, there are no Gliders flying out that same spot however there is very well known Glide Port in the Torrey Pines area right above the Scripps Institution of Oceanography.

And speaking about area attractions, there is the 7 caves at La Jolla Cove, today only 1 of the caves remains accessible but it is a favorite exploration spot for scuba divers and kayakers, there are many people who come to the area for both water activities.

AS far as Hotel’s go, Downtown La Jolla is home to “La Valencia Hotel” which was a destination hotel for many of the movie stars of the  Golden Era, and it still remains today as one of the most exclusive hotels with a magnificent view of the ocean and a lavish Sunday Brunch that has become a tradition for localites.

Hotel La Valencia

It is no surprise that La Jolla, with its natural beauty has been the home and inspiration of many  artist and writers. Perhaps one of the best known in the area would be Theodore Geisel A.K.A Dr. Seuss, his paintings can still be seen in some of the Gallery’s on Prospect St.

During the 1960’s La Jolla became the home of the prestiged school UCSD and the Salk institute, recognized also for its infamous architecture, designed by Louis I Kahn, one of the great Architects of that century.

Salk Institute

Today, La Jolla remains a breathtaking upscale area where you can go see some of the most magnificent homes in the country.

Homes around La Jolla

Another Beautiful La Jolla Home

Here is a Timeline of other interesting facts:

1893 – Opening of La Jolla Park Hotel

1894 – Railroad extended to La Jolla from San Diego; La Jolla Post Office established; Reading Room opened; Anna Held arrived in La Jolla and created Green Dragon Colony

1895 – First La Jolla Village Improvement Society organized

1896 – Ellen Browning Scripps buys two lots on the ocean side of Prospect Street and builds her first home

1897 – Library Association of La Jolla formed

1899 – Barber Tract development begins (first known as Neptunia); first telephone lines installed

1904 – Wisteria Cottage built

1905 – Marine Biological Association organized, later Scripps Institution of Oceanography

1906 – Ground broken for new bathhouse at the Cove; first La Jolla newspaper is published

1910 – The Bishop’s School is built

1911 – Electricity introduced into La Jolla

1913 – Opening of Colonial Inn (Grande Colonial La Jolla)

1915 – Arsonist sets fire to several La Jolla buildings, including Ellen Browning Scripps’ house; work begins on new home designed by architect Irving Gill

1918 – Scripps Memorial Hospital opens (first known as the Sanitarium); paving of La Jolla streets begins

1924 – Electric railroad starts running; Casa de Manana opens as resort hotel; street lights introduced; summer “Jollification” celebration held

1926 – La Valencia opens; Balmer School started (today La Jolla Country Day); La Jolla Country Club takes shape; The Muirlands begin development

1927 – La Jolla Beach and Yacht Club formed (now La Jolla Beach and Tennis Club)

1960 – Location of University of California San Diego campus determined in La Jolla

1964 – Salk Institute built along with high-rise at 939 Coast Blvd. and Seville apartments at 1001 Genter Street

1974 – La Jolla commercial areas impacted by opening of University Towne Center shopping mall

1983 – BLOB (“Ban Large Office Buildings”) organized to oppose large structures being built through the 1980s by banks and other developers

La Jolla Today

La Jolla Coast

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Del Mar California, How It All Began And Its Real Estate Market Condition Today -Rina Podolsky Carmel Valley Homes For Sale-

One of the Most beautiful areas in San Diego is an area called Del Mar, it is nestled between the Pacific ocean and the Freeway 5. Home to the World Famous Torrey Pines Golf Course as well as the Del Mar Fairgrounds Racetrack. It is an area filled with history and most of all natural Beauty. Home to many artist and personalities. It is among the most exclusive communities in San Diego and it is known for having the feel of a small town, with beautiful and very unique homes. The breathtaking views don’t hurt either.  As if all that was not enough incentive to jus buy a home and move here, it also has some of the highest ranking Public Schools, from Elementary all the way to High School.

Every time I have had the opportunity to sell a home in this beautiful area I am reminded of how lucky I am to be able to work in this part of the world.

I have compiled a brief snapshot of this area, including its History, some pictures and the state of its Real Estate Market.

According to the local Multiple Listing Service, Del Mar California has the following statistics:

active Homes(for sale):  191________144 Detached________47Other

Contingent Homes:              7_________1    Detached_________6 Other

Pending Homes:                  20________15  Detached _________5 Other

Sold Last 30 Days:              12________9      Detached_________3 Other

The averages for the properties that sold the last month are as follows:

72 Days On Market

95% Of the asking Price (SP/AP)

$718.10 per S.F

$1,677,150.00

This are the Statistics for the properties currently listed for sale:

126 average _______________2 to 1,212 Days On Market

$970.25 average___________$223.37 to $7315.79 Price per S.F.

$2,679,000.00 average_____$164,900 to $61,000,000.00 Asking Price.

The Most expensive listing in Del Mar can be viewed in one of my previous post Top 10 Most expensive Homes For sale in San Diego .

 It happens to be the #1 MOST expensive home currently for sale in all of San Diego!

I have driven up and down the stretch of Hwy 101 that extends from Carmel Valley Road up to Via de La Valle hundreds of times. It is one of my favorite areas of San Diego yet, I had never questioned how it all came to be.

This piece of heaven also called Del Mar California has the feel of a European medieval town, with the atmosphere of a small community and some of the most stunning ocean views that never end.

So, how did it all get started? When did it begin?

I found some information on Del Mar ‘s history through it’s own historical society.

According to documents found the date when you could say everything was set in motion was on August 14 1882, the day the railroad tracks were laid along this stretch of coastline in the effort of uniting San Diego and San Bernardino.

The man in charge of overseeing the project was Theodore  M. Loop, an engineer and contractor. He set up camp in a beautiful parcel of land that he referred to as “the most attractive place on the entire coast”.  At first this man had laid down a tent city and right away built a house for himself and his family. It was his wife Ella who named it, Ella, called it “Del Mar” – words taken from a popular poem, The Fight on Paseo Del Mar.

Loop met a gentleman named “Colonel” Jacob Taylor who suggested they develop the area and build a town here. It was 1885 when he purchased 338.11 acres at the northern end of the mesa from homesteader Enoch Talbert. It is said that he paid $1,000. And at this, Del Mar was officially founded.
Taylor had a very clear picture in his mind of what the area was to become. His plan was for this to be a playground for the well to do, a seaside resort for the elite. The visionary designed and built a town whose focal point was Casa del Mar, a hotel-resort. Other town attractions included a natatorium, dancing pavilions, and a bathing pool extending from the beach out into the sea.In 1889 tragedy struck and the main attraction, the hotel, burnt down to the ground and so the town was left without it’s focal point. This together with the struggling economy left the small town in a dormant state for at least 15 years.

It was until the beginning of the 1900 when The South Coast Land Company hired a prominent Los Angeles architect, John C. Austin, to draw plans for a new hotel, the Hotel Del Mar. The hotel opened in 1910, and fulfilling the original plans for the area, the elegant hotel served as a magnet for Hollywood stars of the silent film days.

From 1912 till 1920 beautiful new homes began to appear around the new town and many of them soon became landmarks. Construction was halted in the 1930’s

Still it was during this time in 1933 when the search for a site to host the San Diego County Fair began. Ed Fletcher suggested that the 184 acre site in the San Dieguito Valley – just off the main highways and the Santa Fe Road – would be easily accessible and a perfect setting for a fairground.
It was on October 8, 1936 when the fair opened with an attendance of fifty thousand guests.

Bing Crosby made the Del Mar Turf Club a reality and Pat O’Brien became the Vice President. The Race track opened on July 3, 1937,and with it a new era began in Del Mar. The track was hailed as Bing’s Baby or Movieland’s Own Track. In 1938, Bing recorded the song that would open and close everyday of racing since those early days – Where the Turf Meets the Surf (click to listen to the song).

The race track brought A list celebrities and personalities every year, and many of them decided to set up homes in Del Mar, among them Lucy and Desi, Burt Bacharach and many others.

However during World war II the race track had to be closed and converted into a bomber tail assembly production facility until 1945 when racing returned to the the track.

The city of Del Mar was incorporated until 1959. During the following two decades everything was mostly quiet in the area. There was a growing movement of people in Del Mar whose goal was to beautify and maintain the open space, and it was at this time when the gorgeous Seagrove park with its grassy are overlooking the ocean was created.

Today the centerpieces of new Del Mar are L’Auberge – a beautiful hotel designed with the Stratford Inn in mind – and just recently renovated. And the elegant shops and boutiques of the picturesque seaside shopping center, Del Mar Plaza. Its selection of restaurants provides great taste, mood, and rave reviews.

Del Mar has maintained it’s picturesque main street, it’s small upscale town ambiance, with beautiful homes each one unique and different from the rest, some landmarks in their own right some brand new.

Today Del Mar Zip Code is 92014

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You can even search properties in Del Mar just by going to our web site

All the information in this blog has not been checked, it is believed accurate but not guaranteed.