California – The Top 10 Cities With The Highest Median Home Prices
August 26th, 2008 • Related • Filed Under
When it comes to real estate, California is a schizophrenic place. You have some parts of the state that can not sell a home if it is not a foreclosure while other parts are seeing dramatic price increases. Los Gatos has had a 36.6% increase over the past year while Mill Valley is up 28.6%.
So to show that the world has not come to an end when you talk about California real estate, take a look at the average prices in these cities.
California - The Top 10 Cities With The Highest Median Home Prices
- Manhattan Beach, $1.77 million
- Los Gatos, $1.42 million
- Mill Valley, $1.37 million
- Burlingame, $1.29 million
- Calabasas, $1.18 million
- Newport Beach, $1.14 million
- Cupertino, $1.04 million
- Rancho Palos Verdes, $1 million
- San Carlos, $975,000
- Danville, $930,000.
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Comment by Nick on 27 August 2008:
This doesn’t surprise me at all. In areas that were financed heavily with “creative” mortgages, prices are probably dropping like a stone. But areas in which homeowners bought or refinanced using conservative loans, since there was no artificial inflation of the market, there’s no reason for falling home prices. Just another anecdote to prove the point that all real estate is local.
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