California Luxury Home Sales up!
As further evidence of the 2005 real estate market in California, First Republic Bank reports 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." First Republic has tracked luxury home sales for 20 years with their Prestige Home Index™, used to measure changes in homes valued over $1 million in key market areas. The homes in the Index are generally 3,000 to 6,000 square feet, have three to six bedrooms, and boast three to six bathrooms.
For additional information, including an analysis region by region: California 2005 luxury home sales