Covid Economy Falters Bay Area Luxury Home Sales Boom
While rents collapsed, rent went unpaid and landlords fought to keep above water an exodus evolved from the Bay Area; but within Silicon Valley, Luxury Homes escalated in numbers sold and in median prices. Quite an aberration. In San Mateo County the number of Luxury Home Sales went from 564 in 2020 to 679. In Santa Clara the number of Luxury Homes sold went from 1465 in 2020 to 1498 in 2021. For 2021 Luxury Median Priced homes popped from $1.45 million to $2.90 million and Santa Clara from, $1.33 million to $2.66 million. (Thank you Louis Hansen of the Mercury News) The rush from San Francisco was evident as Woodside, Portola Valley with their 1 acre minimum parcels provided space and safety. *News Break states that East Palo Alto is among the Cities where home values are falling the most. Between January 2020 to January 2021 the typical American Single Family home appreciated by 9.1%. In East Palo Alto it declined 2.6% with a change in population, only to be beat by San Franc
Comments
Post a Comment