doesn’t seem right.
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Sold at Apr/2018 means offer was accepted in March.
At that time, market was crazy.
Things started to change a couple of weeks ago after people seeing bearish stock market.
It may be just fatigue or real correction but there is early sign of slow-down.
I guess that is the consensus in Peninsula/South_Bay.
I don’t know much about East Bay.
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South Bay Trends should be followed by East Bay.
Will find out in 6 months.
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IMO, Unless stock dives down, real estate won’t go down.
When I bid (won) the home, there were less visitors to that home two day open houses, but 6 offers were there with one tough to beat (Realtor/Builder).
Even here, the lawyer (buyer) was tough to beat and there were 5 offers
https://www.redfin.com/CA/San-Jose/1593-Cherry-Glen-Way-95125/home/1384633
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Yepp… RE prices do not always go up or down in a straight line, there are low slope seasons, followed by high slopes… + some volatility…
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I also agree with your main point. The lessening of the lending standards to include RSU is the only reason house price in SV can possibly to balloon to the current level. Having said that, if you could max out your dual FANG 350k incomes and FOMO, even current price point could be considered cheap. We may still have a long bull market in front of us (as long as the stock market is doing good)
What worries me is what will exactly happen when stock market eventually crashes (may it be 1.5 years or 15 years from now, it is inevitable).
With the FANG’s intentional modification of the package from mainly base salary to mainly RSU, it is clear that when market reverses, no more RSU will be issued and everyone will have a pay cut. That sounds horrifying, isn’t it? I don’t think so. Automatic pay cut across the board to cut cost is much better than laying layoff people to cut cost to any companies. With respect to real estate market, it will also be a much softer landing than the last subprime crisis as lenders are all willing to help mortgage holders in hard time. Helping one with pay cut is thousand time easier than helping one who lost his job. So as long as Silicon Valley is not replaced by another other area, the next boom (after the next crash) will still be in SV. It should be fine to just winter out the next crash…
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This is the highest priced house in my area - I went to open house Saturday to check it out - not super busy but not dead either…curious to see if it sells for this, finishes were pretty meh but it wasn’t meant to be a flip the family lived in it like this for 1.5 yrs - this neighborhood is like entry level for Pleasanton
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Paycuts happened in 2008-2010 here in the bay area. I agree thats better than layoffs - I know people employed in the east coast at that time who went through layoffs. Much more life altering.
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Unless someone is following a neighborhood really closely, aggregate numbers(mean, median etc) provide a good understanding of the market.
Otherwise single transactions are just anecdotal evidences & do not capture the nuances(good or bad) of the neighborhood/area, which gets reflected in price of that particular property.
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Here is an illustration of the above using Cupertino as an example.
https://www.trulia.com/real_estate/Cupertino-California/market-trends/
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Cupertino didn’t double? Weak sauce. 
When you have lot of data points, bad/unattractive houses are also included in that distribution & appear as outliers and affect the aggregate numbers.
SV, and SC did though 
@manch
Looks like Trulia did an updated data dump & the #s reflect closer to the market today.
https://www.trulia.com/real_estate/Cupertino-California/market-trends/
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