3Q Shows Luxury Home Values Increase

SAN FRANCISCO-Luxury home values in San Francisco, Los Angeles and San Diego increased in the third quarter compared with last year, according to a report from First Republic Prestige Home Index. Values climbed 10.4% in San Francisco, 14% in Los Angeles and 13.5% in San Diego.

“Luxury home prices were strong both year-over-year and for the third quarter in San Francisco, Los Angeles and San Diego,” says Katherine August-deWilde, president and COO of First Republic Bank. “Luxury communities in California’s urban coastal areas continue to experience limited inventory and strong demand from US and foreign buyers.”