$1 million-plus

Cape May, New Jersey
Population: 4,200
Median home cost: $1.2 million

People don’t usually associate New Jersey with gingerbread—except for the distinctive architecture of Cape May. Back in the 19th century, when it was one of America’s first seashore playgrounds, this small city at the very southern tip of the Garden State had mansions and hotels designed, it seemed, to keep the jigsaw and paint businesses afloat for years. By the early 1800s, the “Queen of the Seaside Resorts” was served by steamboats from Philadelphia, and developers had begun building grand hotels. During the 1860s, the summer crowd began to construct their own cottages.

But over the years, most summer sojourners sought out bigger, gaudier destinations along the Jersey Shore, leaving Cape May’s core a 19th-century time capsule. A coastal storm in 1962 devastated the town, but a resurgence began in the ’70s, when Cape May City joined the National Register of Historic Places. That attracted preservation-minded folks determined to restore the charming housing stock. Their efforts spawned a wealth of bed-and-breakfasts, although several traditional hotels, most notably the 1870s Chalfonte, still draw clients. On a more modern note, the revival of interest in Cape May has led to its designation by the New York Times as the “restaurant capital of New Jersey.”

“Cape May” refers not only to the city proper, but also to the entire 15-mile finger of land that extends south into Delaware Bay. Consequently, there’s a lot more real estate in the area than one might first imagine, and it isn’t necessary to rattle around in a huge Victorian to enjoy the local atmosphere. The Atlantic side of the peninsula is a good deal livelier; head just a few miles up the coast from the city and you’re in Wildwood, with its brightly lit boardwalk, rides, and string of midcentury motels from the Buck Rogers school of architecture. Explore the Delaware Bay side, though, and things quiet down. Its beaches are a prime spring stopover for shorebirds.

The city of Cape May is dynamic enough without having to go the roller-coaster route. The Mid-Atlantic Center for the Arts, established in 1970 to save the grandest of the old Victorian homes, runs a year-round schedule of events including craft and antiques shows and a food and wine festival. There’s also professional equity theater at the Robert Shackleton Playhouse of Cape May Stage. A ferry (80 minutes, one-way) connects the cape with Lewes, Delaware, and the resorts of the Delmarva Peninsula. Atlantic City is less than an hour’s drive up the coast, and Philadelphia is roughly 95 miles away.

That’s by car, not steamboat.

Insider Tip
Locals love George’s Place, at the corner of Beach Avenue and Perry Street, for good, unpretentious food. The Greek owners do terrific ethnic salads and baklava, but also excel at crab cakes. A recent bill for a party of four: about $50.

La Jolla, California
Population: 42,000
Median home cost: $1.8 million

Nestled on a promontory on the north side of San Diego, La Jolla shines with spectacular views, an average year-round temperature of 70 degrees, immaculate, palm-lined streets, Spanish Colonial architecture, a university campus, bio-tech and software industries, and outdoor recreation opportunities galore. Perfection comes at a cost, though, and some of the sumptuous homes and estates within gated communities command stratospheric prices. Whether a property looks like it came with a deed to the Pacific Ocean or is situated more modestly on an inland street, real estate here spends virtually no time on the market.

La Jolla avoids the inland freeway tangle, lying between I-5 and the ocean. Cultural amenities include the Museum of Contemporary Art San Diego and The Stuart Collection, as well as the numerous museums, theaters, and music venues that dot downtown San Diego proper. But given this town’s wonderful weather, the outdoors is the big draw. At the 6,000-acre San Diego-La Jolla Underwater Park, boating is limited, and snorkelers and scuba divers enjoy visibility that’s often 30 feet or more. Atop the cliffs overlooking clothing-optional Black’s Beach at Torrey Pines, there’s a gliderport catering to hang gliders, paragliders, and scale-plane pilots. Take a glider’s-eye view of La Jolla and it will look irresistible. You might even pick out a house from up there.

Ready to buy? Consider these things before you sign on the dotted line.

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