$1.27 Million

Andrew Tilton had better be right about the decline in home prices. The San Francisco Business Times just published an article with the following statistic: "Statewide, the 10 cities and communities with the highest median home prices in California during August 2004 were: Beverly Hills, $1,445,000; Manhattan Beach, $1,400,00; Laguna Beach, $1,375,000; Los Altos, $1,350,000; Palos Verdes Estates, $1,325,000; Burlingame, $1,270,000; Newport Beach, $1,100,000; Saratoga, $1,062,500; Orinda, $950,000; Calabasas, $935,000." Burlingame/Hillsborough is the sixth most expensive housing market in the state. A median of $1.27 million? Yikes.