Bay Area, Santa Clara County, California State, and the US:
A long perpective on prices, since 1968.
A picture is worth a thousand words... This graph that I have updated for several years now shows the evolution of the median price of a single family residence at the County level, the 9-County region of the Bay Area, and compares them with the median price at the California level, and at the US level.
It shows that really, only the great Crisis of 2008- 2009 had a significant impact on prices over a whole year period. The earthquake of 1989 definitely stopped prices from going up (along with an economic slow-down), starting a long drawn-out period of time when prices were essentially flat. The dot-com bubble collapse in 2000 and 2001, coupled with 9/11 also had a significant impact on the curve. After 2 or 3 years, prices started to go up again at all levels, but more acutely in the Bay Area and in California.
Thank you for reading!
Silicon Valley real estate specialist
Detailed, local trends etc...
Current mortgage rates
A worthy local non-profit organization: Community Services Agency in Mountain View.