Cities where home prices are hitting new highs

Home value now*: $759,100
Housing boom peak: $742,000

Tech is on a tear and it has been heating up the Silicon Valley real estate market.

"There's a lot of tech IPOs just minting money," said Humphries.

Home values climbed by more than 13% in the 12 months ended in March, according to Zillow. And that has pushed prices to levels not seen since before the housing bubble burst.

The old housing value peak of $742,000, set in April 2007, was passed last October and the market has gone up every month since.

Even the most modest three-bedroom homes can cost a cool million here. And Zillow is not anticipating that this market will lose momentum anytime soon. It expects prices to climb another 5% within the next 12 months.

First published April 22, 2014: 7:03 PM ET

Source: Zillow
Zillow home values are the median estimated home value for a given geographic area in March 2014, and includes the value of all single-family residences, condominiums and cooperatives, regardless of whether they sold within a given period. It is expressed in dollars, and seasonally adjusted.

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