Important Sales in Silicon Valley Last Week

Posted on March 27, 2009 by Connie Miller 
Filed under Blog · Tagged:

Houses are selling in Silicon Valley. Houses at entry price points and houses at the very high end have had an increase in activity as measured by sale pendings last week. We know about the sub-prime neighborhoods in East San Jose and South County being bought by people who recognize the value there. But for me, most notable are the four high-end homes that went under contract last week in Los Altos Hills. Los Altos Hills has been one of the slowest high end markets around and the floodgates just broke open. One new home that went on the market for just under $10M sold in less than two weeks. Another one listed for just under $7M that had been on the market a while recently sold. And two more hovering around the $4M mark also went under contract in Los Altos Hills. Enter Saratoga. Glen Una, the platinum triangle, the epicenter of high end Saratoga real estate. A house there last week in the $7Ms just went under contract as well. What do these Silicon Valley executives who are buying these properties know that we don’t? Seems it could be confidence in Silicon Valley. Have we who live and thrive in this fast paced valley ever not recovered in a downturn? Look at the cycles we have been through. Chip cycles. Workstation cycles. Internet cycles. We always make it through and reinvent ourselves. This will be no different. These executives know this.

Comments

Leave a Reply