- Los Angeles area values fell 1.9% from the second quarter of 2008 and 4.2% from the third quarter of 2007. The average luxury home in Los Angeles is now $2.33 million.
- San Diego area values dropped 2.1% from the second quarter of 2008 and 7.5% from the third quarter of 2007. The average luxury home in San Diego is now $1.98 million.
- San Francisco Bay Area values declined 0.7% from the second quarter of 2008 and 3.0% from the third quarter of 2007. The average luxury home in San Francisco is now $2.99 million.
If these idexes can be trusted, its clear that a high end home, by far, has been an outstanding investment, losing only 3% of its value in roughly the same time period. Clearly, people willing and able to buy a 3 million dollar home are not concerned about bank solvency or interest rates. Nice place to be....
Thanks for Reading
A web site of over 450 articles related to real estate focused primarily on property management.
Your Property Path news Brief
Snap News updates real estate markets and all things of interest to property owners and real estate professionals
Your Property Path Amazon Store
super deals on agent open house tools
We hand picked Amazon for the tools you need