Luxury home values posted slight gains in Los Angeles, San Diego and San Francisco in the third quarter of 2006, as housing markets overall continued to see a slip in sales. Values on homes worth more than $1 million were up 0.6 percent in Los Angeles from the previous quarter and up 5.4 percent from a year ago, according to an index released by First Republic Bank, a provider of wealth management and private banking services. The average luxury home in Los Angeles is now a record $2.37 million. San Diego values increased 1.9 percent from the second quarter, and gained 5.4 percent from a year ago. The average luxury home in San Diego is now a record $2.18 million. San Francisco Bay Area values increased 1.1 percent from the second quarter and gained 4 percent from a year ago. The average luxury home in San Francisco is now a record $2.96 million. "Luxury home values posted very modest increases in the third quarter in Los Angeles, San Diego and San Francisco," said Katherine August-d...
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