Millionaires Only

Here's a look at the Million $ Markets
in the San Francisco Bay area.

This chart is from San Francisco's First Republic Bank's "Prestige Index" which is based on a cross-section of $1 million or more homes in eight Bay Area counties. They've tracked properties since 1985.
Go HERE to see their analysis of our SF Bay Area.

In First Republic's press release dated May 19, 2008, they reported that "luxury home prices in Los Angeles, San Diego and San Francisco, all posted modest declines in the first quarter of 2008.

They showed San Francisco Bay Area values dropped 0.8% from the fourth quarter of 2007, but were up 2.9% from the first quarter of 2007. The average luxury home in San Francisco is now $3 million.

"Values of luxury homes in California have declined slightly in price after many years of strong appreciation," said Katherine August-deWilde, President and Chief Operating Officer of First Republic Bank. "However, even with some modest price declines, there is still demand for attractive properties in the most desirable communities. The strongest markets are the best neighborhoods in San Francisco, desirable close-in suburbs and upscale coastal communities. The higher end of the luxury market is the most active."

Here's link to their releases on other areas in California:

Los Angeles Area Values

San Diego Area Values

These numbers represent sales reported to our Contra Costa Association of Realtors® multiple listing service. Some sales in the million $range, were not reported for privacy purposes.

Average Closed Sales Prices 2003-2008
(Single Family Detached Homes)
Communities with average sales prices over $1M

Single Family Detached Homes

	2008 ytd 6/1/08	2007	2006	2005	2004	2003
Alamo	$1,543,963	$1,690,613	$1,710,182	$1,621,208	$1,399,972	$1,285,378
Blackhawk	$1,394,501	$1,569,439	$1,636,998	$1,671,633	$1,450,629	$1,227,086
Danville	$1,062,327	$1,134,653	$1,177,829	$1,166,004	------	-------
Diablo	$2,220,833	$1,988,888	$2,177,500	$2,293,000	$2,075,714	$1,855,400
Lafayette	$1,312,865	$1,294,061	$1,319,936	$1,242,210	$1,018,607	-------
Moraga	$1,073,379	$1,210,608	$1,192,345	$1,189,748	$1,011,987	--------
Orinda	$1,297,966	$1,294,407	$1,385,648	$1,262,040	$1,165,528	$1,010,598
Pleasanton	$1,049,006	$1,030,235	$1,057,558	$1,032,855	---------	------

----Average prices were under $1 million

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Putting Our Prices in Perspective:

Here is a link to an article in Business Week regarding the
10 most expensive real estate market in the world.

Here's the main headings. Go to their web site for pictures plus info on 22 cities throughout the world.
1. London
Price: $6,191 per sq. ft.
What you get for $1.5 million: Small studio apartment
Annual price change: 29%*
2. Monaco
Price: $5,888 per sq. ft.
What you get for $1.5 million: Studio apartment
Annual price change: 25%
3. St. Jean Cap Ferrat (France)
Price: $5,853 per sq. ft.
What you get for $1.5 million: Small studio apartment
Annual price change: 39%
4. Courchevel (France)
Price: $4,710 per sq. ft.
What you get for $1.5 million: Studio apartment
Annual price change: 5%
5. Hong Kong
Price: $4,507 per sq. ft.
What you get for $1.5 million: Studio apartment
Annual price change: 21%
6. Manhattan
Price: $4,320 per sq. ft.
What you get for $1.5 million: Studio apartment
Annual price change: 25%
7. Cortina d'Ampezzo (Italy)
Price: $3,028 per sq. ft.
What you get for $1.5 million: 1 bedroom
Annual price change: 22%
8. Portofino (Italy)
Price: $2,692 per sq. ft.
What you get for $1.5 million: 1 bedroom
Annual price change: 14%
9. Singapore
Price: $2,423 per sq. ft.
What you get for $1.5 million: 1 bedroom
Annual price change: 31%
10. Tokyo
Price: $2,334 per sq. ft.
What you get for $1.5 million: 1 bedroom
Annual price change: N/A

Million $ Plus Locations

Million Dollar homes are now very prevalent in our area. The $$$ symbols below indicate communities that have numerous single-family homes valued in the $1,000,000+ price range. The communities noted below are: Orinda, Lafayette, Moraga, Walnut Creek, Alamo, Danville, Diablo, Blackhawk, and Pleasanton. Also included would be Montclair, Piedmont, Oakland, Berkeley, and San Francisco. There are also many million dollar valued homes on the SF Peninsula, and in Marin, Sonoma and Napa Counties. There may be other areas that I have not mentioned. All these communities, of course, have many homes valued
in lower price ranges too.

Choosing a
Million $ Price Range Agent

Criteria:

(1) Experience, Experience, Experience

If you are interested in finding a home in the million $ plus price range, your agent's level of experience and knowledge becomes especially important. The complexities of homes usually increases as the prices get higher and higher.

Agents need to be knowledgeable of many areas of potential problems and alert Buyers to the importance of contacting experts to deal with the myriad of complexities with these types of properties. Typical areas that might need investigation would be earth movement history, soils conditions, drainage, retaining walls, foundations, electrical systems, heating systems, alarms, irrigation systems, pool-spa systems, roofs, lot line issues, private roads, etc. Choose your agent very carefully in this price range. First requirement: LOTS of experience in the real estate business and sales history in the million plus price range.

Million $ Plus Locations

Choosing a Million $ Price Range Agent

Choosing a
Million $ Price Range Agent