Santa Clara County, which surpassed its peak price for existing single-family homes in April, saw a gain of 6.7 percent to $800,000, and San Mateo County was up 14.2 percent to $925,000.
Wendy McPherson of Coldwell Banker in Menlo Park said recent tech company public offerings and acquisitions are creating wealthy buyers at a brisk pace. "We just had a buyer buy a $20 million property who was living in a $900,000 house," she said.
Ken DeLeon of DeLeon Realty in Palo Alto said demand is so brisk for luxury real estate that one home in Atherton sold for $14 million in three days.
As we all know, it’s been a long time dream of the readers of this site, and the homeowners and landlords of the Real Bay Area to see housing prices surpass those of our arch nemesis, Manhattan – proving that you don’t need ugly skyscrapers, integrated cultural diversity, things that open late, low crime, taxis, functioning mass transit, and <shudder> shadows to be successful.
We. Are. Almost. There.
The median home price for a single family home in San Mateo is now $925,000. Santa Clara, which includes Gilroy, $800,00.
Is there anything more beautiful than this?
Question time: What will the median price in a year from now for SM and SC? $2M and $1.8?
Post your predictions in the comments!