It had to happen sooner or later. Silicon Valley, or at least places therein, has reached a new milestone, according to CoreLogic data via the San Jose Mercury News.
The median price of a single-family home in Santa Clara County hit seven figures for the first time last month: $1 million on the button. Prices grew even dizzier in San Mateo County, where the $1.2 million average matched the previous record, set in May 2015.
The East Bay also saw a run-up in prices, with the median Alameda County home reaching $750,000, up more than 10 percent from the previous month. Tugged upward by prices in Walnut Creek and other high-end areas, the median Contra Costa County price grew to $525,000, its steepest in seven years, according to new housing figures released Wednesday.
"We just don't have a market under $700,000 in Walnut Creek," said Alain Pinel agent Margaret Garber-Teeter. "And even at $700,000, you're going to be in second-tier schools.