Prices rose 6.2% during the quarter -- the largest increase among California's major cities and the second-highest since First Republic Bank started keeping statistics in 1985. The average cost of San Diego County luxury homes is now $1.39 million, according to the bank.
The value of luxury homes in Los Angeles County increased 2.4% to $1.31 million. The value of similar homes in San Francisco -- home to the nation's most affluent housing -- fell 7.5% to $2.21 million.
Values of luxury homes in San Diego County have grown more than 21% over the last four quarter, according to First Republic index.
The index tracks resale values of property in high-end locations including Carlsbad, Coronado, Del Mar, La Jolla, Poway, Rancho Santa Fe, and Solana Beach, among other areas.
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