California Luxury Home Values Set New Highs in Los Angeles, San Diego and San Francisco

Luxury home values set new records in Los Angeles, San Diego and San Francisco in second quarter of 2004. According to the Prestige Home Index California luxury real estate has grown at double digit appreciation.

Here are the facts:

• Los Angeles luxury home values up 17.5% ($256k) to $1.72 million over last year.
• San Diego luxury home values up 18.8% ($273K) to $1.73 million over last year.
• San Francisco luxury home values up 16.4% ($357K) to $2.54 million over last year.

Although now we may see a cooling off of these home values as the inventory begins to build and if mortgage rates climb. Keep an eye on the amount of homes for sale as you may begin seeing some properties not selling at current prices.

The Prestige Home Index is produced by First Republic Bank.

Thanks for Reading.

Jessie J. Beaudoin