In a battle of the beach cities, Hermosa Beach was the big winner last year where median home prices were concerned and Malibu the biggest loser. Malibu is home to vast amounts of celebrity real estate.
But first appearances can be deceiving. Los Angeles County luxury communities that showed the most price gains last year were largely just regaining previously lost ground
Santa Monica's 90402 ZIP Code saw 110 existing home sales at a median of $2.141 million — an 8.5% price drop. Although nearly unchanged in 2010, the 2009 median had experienced a 13.7% drop.
Pacific Palisades 90272 took a 7.8% median price hit last year. It was the third consecutive year the median fell there.
The San Marino 91108 median dropped 7.2%, erasing price gains from the two previous years.
Manhattan Beach 90266 fell 4.9%, having seen a median price gain of 9.1% in 2010 following a 14.1% decline in 2009.
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