California Luxury Real Estate Values UP in 2005

Yesterday, Inman news reported a story based on First Republic Prestige Home Index. According to the report, Luxury real estate values rose to an all-time high in Los Angeles, San Diego and San Francisco in 2005 but slowed significantly in the 4th quarter.

Here are some highlights regarding average prices:

San Diego: $2.09 million
San Francisco Bay area: 2.88 million
Los Angeles: 2.3 million

It will be important to keep on eye on the high end market as often times it is a leading indicator of the rest of the real estate market.