“Bay Area Home Prices Near Record High as Sales Soar.”

“Bay Area home prices are nearing their pre-recession all-time highs as sales all around the Bay soar, according to a recent report by CoreLogic, the La Jolla-based real estate information firm,” says Mike James of Coldwell Banker. I’m sure Mike knows that Silicon Valley prices equaled their previous peaks several years ago, then moved on from there. “The median price of all new and existing homes in the Bay Area in June (the most recent data reported) was $660,000, a 6.8 percent rise from a year ago and the highest level since prices hit their peak of $665,000 in June and July of 2007.” I’m also sure Mike knows that top-end Silicon Valley prices didn’t peak until early 2008.