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Manhattan Luxury Rentals

The Ups and Downs of Luxury Living



29 April 2009 @ 01:37 pm EDT

Forbes magazine is monitoring the ups and downs of the 500 U.S. ZIP codes where housing is priciest.

The sales price fluctuations in these exclusive neighborhoods often are a leading indicator of lesser-priced real estate in the area, housing analysts say.

Here are the biggest changes in these markets over the last year:

The biggest drops in median home price:
  • Dana Point, Calif., $1,017,453, -31 percent
  • Rumson, N.J., $1,340,953, -30 percent
  • San Martin, Calif., $791,998, -28 percent
  • 90010 Los Angeles, Calif., $586,176, -26 percent
  • San Jose, Calif., $500,829, -25 percent

The biggest gains in median home prices:
  • Mendham, N.J., $1,274,284, 11 percent
  • Menlo Park, Calif., $1,310,173, 11 percent
  • 90069, Los Angeles, Calif., $2,799,653, 7 percent
  • Chappaqua, N.Y., $1,347,499, 6 percent
  • 90046, Los Angeles, Calif., $1,375,461, 5 percent


Reprinted from REALTOR® Magazine Online with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2009. All rights reserved.

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