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Los Angeles Luxury Home Values Stable in Second Quarter
Luxury home values rose in Los Angeles in the second quarter of 2011 compared to the first quarter.
In the quarter ended June 30, 2011, the Index indicated the following:
Los Angeles area values climbed 1.7% from the first quarter of 2011 and increased 1.8% from the second quarter a year ago. The average luxury home in Los Angeles is now $2.0 million.
"Luxury home prices were largely stable in the second quarter of 2011," said Katherine August-deWilde, President and Chief Operating Officer of First Republic Bank. "Certain communities in California, particularly those in and around the Silicon Valley and parts of San Francisco, showed robust activity.
Los Angeles Area Values:
Los Angeles values rose 1.8% in the second quarter of 2011 from the same period a year ago. The gain was the first on a year-over-year basis in the past 14 quarters.
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Source: Market Watch