Prestige Index for San Francisco Luxury Home Values

The First Republic Prestige Home Index for values of “San Francisco” homes worth more than $1.0 million and currently averaging $3.18 million jumped 3.4 percent in the first quarter of 2014 and is 12.5 percent higher on a year-over-year basis, the greatest year-over-year gain since the fourth quarter of 2005.

Having gained 27.5 percent from the current cycle bottom which occurred in the first quarter of 2011, the luxury home index is now at an all-time high.  Roughly 37 percent of all home sales in San Francisco proper have been above the million dollar mark over the past year.

As always, keep in mind that First Republic’s 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.”

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Comments from “Plugged-In” Readers

  1. Posted by soccermom

    Makes sense. S&P closed at an @ all time high today too.

    Would be interesting to see how the # of houses counted changes, if the arbitrary cutoff for inclusion is $1mm value, doesn’t that mean the index composition changes as all home prices move up? Ascendancy bias or something? I made that term up I think.

  2. Posted by Sally

    It ia crazy out there in SF for condos and SFH. I think the property market will hear up as it is lagging the S&P 500.

  3. Posted by Sabbie

    Follow the (foreign) money.

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