I watch La Jolla’s market pretty carefully, and I can tell you that prices just keep going up. Inventory isn’t that tight, but most of the places that sit on the market are not very good.
Zillow also shows huge (crazy?) jumps in the last 6 months to a year. (Here’s a place that in Jan 2015 was 2.5 mil. Today Zillow says over 5 mil)
I don’t know what to make of these huge jumps on Zillow because that’s way beyond the increases I’ve seen, but still…
Is it a bubble? Beats me. I can’t see the reason that prices will fall, but on the other hand I don’t believe that prices can continue to climb 10% or more a year while salaries and income only climb at a couple percent at best. Where does it stop? What causes it to stop? I’d love to know the answers to those questions, but ya got me on that.
