Bay Area Home prices rising since year 2000
As you all know by now, I enjoy looking up real estate data, so I thought I’d look up how much houses have appreciated since the year 2,000, so over the last 24 years, and this is what I found for the top three:
- Santa Clara had the largest average price increase, from $481,106 to $2,045,482, a massive 325%
- Sunnyvale went from $614,490 to $2,474,719, an increase of 303%*
- Mountain View went from $699,295 to $2,752,186, an increase of 294%*
As for areas in San Jose, this is what I saw:
- Cambrian area had the largest average price increase, from $463,694 to $1,950,225, 321%
- W. San Jose (95129) went from $683,131 to $2,789,557, an increase of 308%*
- Willow Glen, went from $584,307 to $2,187,808, an increase of 274%
While the above information certainly was interesting, what I found even more interesting was the number of sales, the number of houses sold year-to-date for these cities/areas, has dropped significantly, this bears out that inventory has steadily decreased; blame the cost of moving, interest rates, or whatever you want, the fact is that buyers nowadays have less choice and a more competitive market that buyers did in the year 2000….more on that in my next posting!
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