The First Republic Prestige Home Index for “San Francisco” homes valued at more than $1 million, and currently averaging $2.67 million, gained 2.9 percent from the first to second quarter of 2012, up 6.6 percent year-over-year.
The index remains down 13.4 percent from a third quarter 2007 peak but is back to first quarter 2005 levels, up 7.2 percent from the first quarter of 2011 current cycle bottom.
As always, keep in mind that the “San Francisco” index includes “a cross-section of luxury homes in Alamo, Atherton, Belvedere, Danville, Healdsburg, Hillsborough, Lafayette, Los Altos, Los Gatos, Mill Valley, Moraga, Orinda, Palo Alto, Piedmont, Portola Valley, Ross, St. Helena, San Francisco, Saratoga, Sonoma, Tiburon and Woodside.”
∙ First Republic Prestige Home Index: San Francisco [firstrepublic.com]
∙ San Francisco Prestige Index Down 0.3% In Q4 2011, Down 3.1% YOY [SocketSite]