The Silicon Valley housing market has been extremely hot lately, with prices reaching all-time highs.
Silicon Valley has long had high housing prices, but now more engineers than other regions are being told to return to their offices. They are spending money to come back and that is driving up prices.
“So many people still want to live close to work,” said real estate agent Lynsey Gridley.
According to Joint Venture Silicon Valley, the median home price in Silicon Valley is up 7% in one year, hitting an all-time high.
Santa Clara is the hottest city in Silicon Valley. Each home for sale receives an average of 9 offers and sells for 10% more than the asking price.
While the market is hot, there are more people moving out than moving in. The joint venture says the problem is money.
“High housing costs were the most commonly cited reason for potentially leaving the area,” said Heidi Young, senior researcher at Joint Venture.
Saini and David Diaz, like many Valley homeowners, are happy living in the area, but are worried about the cost of living.
“When you think about property taxes and all the expenses that come with that, it becomes a big deal,” Saini said.
The family has admitted that they are considering parting ways.
If they sell, there will be no shortage of stock option techs ready to buy.
“So we’re seeing homes come on the market, and if they’re priced well and look good, they sell within a week and often still have multiple offers,” Gridley said. Told.
