Each market has its own high end price point. 

At some of these homes the for sale signs are almost a permanent fixture.  Homes sold in Glendale over $1,500,000 have seen a 75% decrease since 2006.   Price per square foot is down $125 and DOM (days on market have doubled).  

According to 2009 MLS statistics, high end La Canada real estate has not suffered as much as Glendale, Pasadena or La Crescenta.  The number of $3,000,000+ La Canada homes sold dropped 58% from 2006 – 2008.  Days on market more than doubled, yet 2008/2006 average selling price and price per sq ft remain similar. 
 

The number of $1,000,000+ La Crescenta homes sold is down 71% from 2006.  DOM has more than doubled and average price per sq ft is down as well.
 

The number of $3,000,000+ Pasadena home sales has also plummeted – 64% decrease from 2006 sales, BUT average price per square foot and average sales price are up from 2006 levels.