Here is a story about Silicon Valley housing. Housing in Santa Clara was grouped into three catagories, and then the price for each catagory was plotted. It showed that low and moderate areas in Santa Clara county have steadily increased in value over the last few years, while the high end has dropped significantly from 2000 bubble highs.
In Santa Clara County's moderately priced and most affordable neighborhoods, where those tract homes are plentiful, median house prices have reached all-time highs in recent months.Prices in the most expensive towns, however, remain far lower than during the boom of 2000. And the median home price for Santa Clara County as a whole is still down from its peak in January 2001.
``This shows you that the median price for the county does not necessarily reflect what's happening in any given neighborhood or with your specific piece of property,'' said Richard Calhoun, owner of Creekside Realty in San Jose, who compiled and analyzed the data based on sales figures from the local Multiple Listing Service.
Prices in the county's mid-priced and most affordable neighborhood's have risen primarily because low mortgage interest rates have motivated many renters to purchase homes and prompted many homeowners to ``buy up'' into nicer homes.
I'll see if I can't find the graph that goes with this story.
Posted by boss at December 11, 2003 03:37 PM