We are certainly fortunate to live on the San Francisco Peninsula! When recessions hit our housing market we are typically impacted much less than the rest of the country. We typically recover more quickly, too.
Some recessions hit us harder than others. The “Dot Com” recession of 2001/2002 hit us harder than the “Great Recession” of 2008/2009, for example. The determining factor is employment. We lost a lot more jobs in the Dot Com bust than we did in the Great Recession.
Bottom line: The local economy is back and, according to recent consumer confidence surveys, we’re feeling pretty good about it, too. “SAN FRANCISCO: Consumer confidence reaches highest levels in 5 years”, KTVU.com 12-06-12
In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of November for Palo Alto, Los Altos, Los Altos Hills, Menlo Park and Mountain View. You can’t find this level of historical data all in one place anywhere else, so if you have any questions or wish to get more info about your community, don’t hesitate to contact us.