Newport, Laguna prices among highest in CA. Highest increases: SJC, LF, NB

[socal78]

"Newport Beach and Laguna Beach ranked among the top 10 cities in the state with the highest median home prices for the month of November, according to the latest statistics compiled by the California Association of Realtors.

Newport Beach landed in the No. 2 spot at $1.11 million, while Laguna Beach followed close behind at No. 3 with $1.10 million. Saratoga homes took the top spot at $1.23 million.

And when it comes to the greatest median price increases, San Juan Capistrano registered first in the state with a 57 percent jump, followed by Lake Forest in the fifth spot at 16.8 percent. And, despite its $1 million-plus price tags, Newport Beach landed at No. 8 with a 12.6 percent increase."
http://www.ocmetro.com/t-Newport_Laguna_home_prices_highest_in_state_122210.aspx

 

[freedomcm]

yes, this is the problem with reporting median prices.  SJC ran out of crappy condos that were all sold in the subprime FC wave early on, so the houses that are selling now mean that the median price has gone up.

NPB and LGB "up" to 1.1M?  I thought that their medians were much higher than that (~1.5M) a  couple of years ago.

 

[bluemove]

The median for Laguna Beach single family homes is down quite a bit over the last few years.  I don't have the numbers handy, but it is down at least 30%-40%.