Tuesday, November 29, 2005

Luxury Home Market Prices Increase

After seeing a home on the Strand in Manhattan Beach listed at close to $10,000,000 I think it's safe to say that Luxury Market home prices are definitely on the upswing.

According to the First Republic Prestige Home Index, published by First Republic Bank, the average luxury home price hit $2.28 million in Los Angeles County during the third quarter, up 8.6 percent from the previous quarter and up 17 percent from the same time last year.

The article states that the Los Angeles County market is the fastest appreciating market in the state and beat out San Francisco , Orange County and San Diego.
To read the entire article click First Republic Bank then click on Prestigious Home Report.

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