Homes For Sale Silicon Valley CA

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San Bruno House Appreciation vs San Mateo County

Since the 1st-quarter of 2022, San Bruno house price appreciation has not kept up with San Mateo County. Similar low appreciation is seen for other cities near San Francisco.

San Bruno House Prices vs. San Mateo County House Prices

The upper traces show San Mateo County house prices. The lower traces show San Bruno house prices. In the early 2000’s, the government supported relaxed loan qualifications for low-income home buyers to help more people become homeowners. It is not surprising that the 2008 mortgage crisis affected lower-priced homes in San Bruno more than the San Mateo County average and median. What is interesting is that after the 1st-quarter of 2022 San Bruno prices appreciated less than San Mateo County prices.

San Bruno House Age vs. San Mateo County House Age

New homes sell at a premium compared to older homes. Consider how the age of the typical houses sold would affect prices.

The faint red line shows the average age of houses sold in San Mateo County. The strong red line shows the average age of San Bruno houses sold. With an older average age after the 2nd quarter of 2019, it could be expected that San Bruno house prices would not keep up with San Mateo County.

Generally, multiple factors affect house price appreciation. The age of houses sold appears to be a factor for lower price appreciation in San Bruno vs. San Mateo County. More information about these real estate trends is available at https://julianalee.com/blog/san-mateo-county-vs-santa-clara-county-real-estate-trends-age/ .

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Do Silicon Valley House Prices Follow A K-Shaped Trend?

Concerns about a K-shaped economy have entered the housing market. An important question is “do Silicon Valley house prices show a K-shaped trend?” The answer could be important to you whether you are a home buyer, a home seller, or a real estate investor.

A K-shaped economy is a trend where wealthy people have greater wealth growth than average or low wealth people have. This may imply that luxury house prices rise faster than average house prices. The question is thus, do they?

Luxury House Prices vs. Average House Prices

A quick look for a K-shaped house price trend can be done by comparing Atherton house prices (luxury houses) to Redwood City house prices (average houses).

Although house prices significantly different in Atherton and Redwood City, the appreciation rates are very close. There is no K-shaped trend.

More house price comparisons posted at https://julianalee.com/blog/silicon-valley-houses-no-k-shaped-trend/ also show that there is no K-shaped trend.

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Will YIMBY Create Increased Condo Demand?

A recent look at YIMBY vs NIMBY said that a person’s attitude about high-density housing was strongly affected by how urban centers were widely viewed when that person was about 18. Boomers were about 18 years old at a time when urban centers had numerous problems reported. When other generations were 18, urban life was viewed as having more activities, parties, and nightlife. Other generations were 18 when suburbs were claimed to be resource-wasteful and caused excessive ecological damage.

Currently Silicon Valley house prices are growing faster than Silicon Valley condo prices. This could be due to a different proportion of renters vs owners for condos vs. houses. It could be due to houses typically being larger than condos.

It should be noted that increased mortgage interest rates have increased the cost of buying a condo. Flat prices do not mean demand is falling.

Will the attitudes of new generations drive the demand for condos and thus their prices up? More discussion is posted at https://julianalee.com/blog/nimby-yimby-condo-demand/