San Ramon Housing RecoveryCommunities in the Silicon Valley area are benefiting from the  IPO’s of recent months raising the median price of homes as much as 20%.  Palo Alto the home of Facebook has seen a 20% increase in home prices just in the last 60 days where the median home is $1.63 million. Likewise Mountain View home prices have risen 3.1% with a median home sale of $957,500.
Many of these buyers are young who are cashing in on their stocks and taking the cash to buy a house. A recent survey indicated that out of 2000 people surveyed 70% believe owning a home is a good thing, regardless of the market fluctuations.may were 11% and 23% respectively of homes closed in the $1,000,000 plus range
San Ramon and Danville real estate markets for the month of May accounted for 11% and 23% of home sales in $1,000,000 plus price range. Number of units in this price range have risen and we are seeing more million dollar homes becoming available. There are a number of families that work in the Cupertino and San Jose area who like the San Ramon area because of the reputation of the schools.
While there is no guaranty that the rise of technology companies will lead to the housing recovery, but in sure helps right now that real estate is on the move again.
Resource: Realtor.org

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