CA: Luxury Homes at All Time High
The First Republic Prestige Home Index shows that luxury home values rose to all-time highs in Los Angeles, San Diego and San Francisco in 2005 on the strength of double-digit gains, but appreciation slowed significantly in the fourth quarter.
The Index found:
— The average luxury home in Los Angeles is now a record $2.29 million, up $316,000 from a year ago.
— The average luxury home in San Diego is now a record $2.09 million, up $245,000 from a year ago.
— The average luxury home in San Francisco is now a record $2.88 million, up $336,000 from a year ago.