Congrats to the Real Bay Area cities whose median sold home price went up greater than 30%!
Now, let’s dissect the data. Obviously Hillsborough and Atherton went up by 40% because everyday a new millionaire is minted (billionaires are only minted on Thursdays.)
Mountain View is kind of obvious because of Google, Google, Google, and Global Beads at 345 Castro Street.
But Redwood City? Damn!
The last time Redwood City soared like this was back in 2006… when dead people were getting mortgages. But this time it’s different. The paradigm has shifted. There’s Facebook next door and a Philz.
And look at the difference it has made to the schools according to Great Schools:
Oh. Uh. Yeah.
Well whatever. Nothing can stop us now. It’s only a matter of time before even Redwood City will beat our mortal enemy Manhattan in price per square foot. (I hear they’re already whimpering in fear.)
Let’s look at how house prices will look in 5 years based on the current growth levels (and as always, past performance is indicative of future results):
Yep, that’s right. You heard it first. I’m calling Redwood City at $4.3M and Mountain View at $4.7M in 2019. Nothing can stop us now!
What are your forecasts for 2019?