From
https://www.mercurynews.com/2018/07...alley-than-anywhere-else-in-u-s-last-quarter/ "The median price of a home in the San Jose area, which includes Santa Clara and San Benito counties, jumped 25 percent from a year ago, according to ATTOM Data Solutions’ Q2 2018 U.S. Home Sales
Report. The San Francisco area, which includes San Francisco, Alameda, Contra Costa, San Mateo and Marin counties, was fourth on the list, with gains of 14.2 percent compared to last year."
Also from same article, "In the San Jose metro area, the median sale price for a single-family home or condo last quarter was $1.2 million, according to ATTOM. In the San Francisco metro area, it was $925,000." That is in US$ so the median sale price for a single-family home or condo last quarter in San Jose is over 1.5M Canadian $.
Hindsight is 20-20. My brother and I bought a house in Santa Clara, CA in the very early 80s for $91K. He wanted out about four years later when it had appreciated about 50%, but because I had made way more than half the payments, even when I was not living there, I did not have to pay that much to buy him out. I moved in with my wife and kept it as a rental, rented to the same family for about 20 years. Then when fixed it up and moved back in so our son could attend the excellent Cupertino schools for middle school and my wife got to shorten her commute by half. After living in it more than long enough to avoid most of the capital gains, I sold it at the beginning of the market softening in mid-2007 for 8X what we originally paid. (The rest of the country's housing price decline started earlier - this was the real Bay Area where some people thought it would never go down again). Part of my reason for selling is that I did not want to be responsible for maintaining a 55 year old house with radiant heating in the slab foundation.
I thought house I sold had probably doubled again as it's not much more than a mile from Apple's spaceship campus. But Redfin shows it's value at $1.8M (1,240 sq. ft. 3/2 good floorplan mid-century modern) so it's gone up about 150% in less than 11 years after a small dip in the late 2000s. The only one now for sale in the same area is on corner of busy street, 1,513 sq. ft. and is listed for $1.85M. My wife's son did very well getting into a 5 bedroom home nearby, but not as good of a school district for $900K. He found it before it went on market and wrote a letter to the sellers using connection through mutual friends to get it. Redfin has its current value at just over $2M, less than 4 1/2 years later. Hindsight is 20-20
