According to a new report, luxury real estate values in Coronado, California have risen to all-time highs. In fact, luxury homes all over California are up in value, despite the recent “cooling” of real estate markets all over the US.

From First Republic Bank:

Luxury home values rose to all-time highs in Los Angeles, San Diego and San Francisco in the third quarter of 2005 compared to a year ago, according to the First Republic Prestige Home Index(TM) by First Republic Bank, one of California’s leading providers of full-service banking, investment management, brokerage and trust services.

The Index, which has tracked luxury homes since 1985, found:

— Los Angeles values jumped 8.6% from the second quarter of 2005 to the third quarter of 2005 and rose 17% from the third quarter a year ago. The average luxury home in Los Angeles is now a record $2.28 million, up $331,000 from a year ago. Values have posted 11 straight quarters of double-digit, year-over-year gains.

— San Diego values increased 2.9% from the second quarter of 2005 to the third quarter of 2005, and were up 11.6% from the third quarter a year ago. The average luxury home in San Diego is now $2.07 million, up $215,000 from a year ago. Values have posted seven consecutive quarters of double-digit, year-over-year gains.
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According to a new real estate report, median prices of existing California homes increased more than 17% since last year and Coronado has one of the top-10 median home prices in the state.

From the California Association of REALTORS:

Oct. 25, 2005–The median price of an existing home in California increased 17.3 percent in September and sales increased 3.9 percent compared with the same period a year ago, the California Association of REALTORS(R) (C.A.R.) reported today.

Closed escrow sales of existing, single-family detached homes in California totaled 650,780 in September at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR(R) associations statewide. Statewide home resale activity increased 3.9 percent from the 626,210 sales pace recorded in September 2004.
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