San Marino bucks the housing bust

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

While the top 20 most expensive Southern California communities have struggled to varying degrees during the housing downturn, San Marino alone has avoided a drop in annual median home prices.

The San Gabriel city recorded its peak annual price last year at $1,524,000, according to statistics from MDA DataQuick. Meanwhile, Malibu is down more than 28% from it’s 2007 high point.

San Marino has superior schools and a housing stock of stately mansions, but what seems to be making the difference is a steady influx of Asian buyers and investors keeping competition alive and values buoyant, real estate experts say.

-- Lauren Beale

Thoughts? Comments?