Firstly, its an interesting survey. It gives you a comparitive look at slightly above average homes in 300 markets by looking at “the prices charged for 2,200-square-foot, four-bedroom, two-and-one-half bath, single-family homes.”
Unfortunately, Coldwell Bankers took an interesting survey and sort of twisted it to made a good headline for their press release. And, of course, it worked. The press release was republished completey uncritically in a variety of places as so called news.
But La Jolla is not the most expensive neighborhood based on criteria that most people would use. The Coldwell Banker survey only demonstrated that La Jolla is the most expensive market for slightly above average houses. Which is interesting, but not much to get excited about. (newsflash- La Jolla and Beverly Hills are desireable locations! Read all about it!)
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