Community Corner

Hermosa, Palos Verdes Top List of Home Price Gainers in 2011

Luxury homes in these communities showed some of the most price gains in 2011, according to a Los Angeles Times report.

Luxury pads in Hermosa Beach and Palos Verdes topped a list of others in Los Angeles communities that showed the most home price gains in 2011, according to a Los Angeles Times report. But some communities with increased prices were just making up for losses in previous years.

Hermosa Beach saw prices rise to 15.8 percent to a median of $1.1 million "among ZIP codes with medians above $1 million and where at least 50 existing single-family homes sold, according to DataQuick statistics. But the increase barely offset the previous year drop-off when prices lost 15.4 percent," according to the Times article.

The Palos Verdes Peninsula, in the 90274 ZIP code area, rounded out the top five gainers, "up 4.2 percent on top of a 1.6 percent gain in 2010. The area experienced a 15.8 percent price drop in 2009."

Find out what's happening in Palos Verdeswith free, real-time updates from Patch.

Also among the top five were Bel-Air, West Hollywood and Beverly Hills.

Communities with the greatest median price drops in 2011 included Malibu, Santa Monica, Pacific Palisades and Manhattan Beach.

Find out what's happening in Palos Verdeswith free, real-time updates from Patch.

Read the full Los Angeles Times article here.


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