Not So Fast! Luxury Market Is Up
Tuesday, May 20, 2008, by Marissa Gluck

2008.05.bh.jpg While the LA Times reports luxury home prices are dropping, the WSJ reports some healthy gains: "Median prices in Brentwood are up 16%. The Hollywood Hills, up 26% to a median price of more than $2.1 million. Rancho Palos Verdes and the Palos Verdes peninsula, up 17%. Parts of Newport Beach, one of Orange County's poshest addresses, are up as much as 67% to $2.75 million. The coastal village of Laguna Beach is up 6%." According to the earlier Los Angeles Times story, a handful of big sales caused that huge Newport Beach percentage jump. [WSJ]


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