La Jolla Home Values - Sales Up, Prices Down

For the month of November, twenty detached homes sold in La Jolla with a median sale price of $1,487,500. In November 2008, the median sale price for the twelve sold homes in La Jolla was $2,175,000.  Based on this data,home values in La Jolla have dropped significantly since last year.  Sales have almost doubled and the median sale price is $688,000 less. 

Comparing data year-to-date this year and year-to-date last year, the results aren't as drastic but still reflect more sales and a lower median price in theLa Jolla real estate market. 

January 1 - November 30, 2009 - 213 sales - median sale price $1,495,000
January 1 - November 30, 2008 - 185 sales - median sale price $1,625,000



Any thoughts on why the median price is much lower this October compared to last, but the year-to-year isn't that much different? Fluke?
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November 30 2009 - La Jolla
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La Jolla Home Values - Sales Up, Prices Down
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