Luxury home values in the Bay Area have seen their biggest gains since 2006. According to the Business Times, Bay Area luxury home values rose 6.6 percent in the second quarter, the biggest year-over-year gain since the first quarter of 2006, and rose 2.9 percent from the first quarter of 2012, with the average luxury home in San Francisco is now $2.67 million. Real estate agents credit the strong stock market, since many luxury home buyers own stocks and options tied to publicly traded companies. Areas in the South Bay are especially hot, with Palo Alto setting all-time highs. [SF Business Times/Photo: Shutterstock]
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