Bay area real estate downturn

Earlier posts were doubtful how long the downturn will last. Now it is clear that downturn is at least 3 months long and from the looks of it, it is going to continue for some more time.

Just noticed that even home price of Palo Alto is dropping ! I don't track Palo Alto prices since they are just way out of reach but this one caught my eye, so will add this to the list.

1. 150 W Meadow dr Palo Alto dropped listing price by ~$200k, to $1.98million
2. 6060 Willowgrove ln, Cupertino, sold for ~$60k less than asking at $1.8mill on 11/14/18
3. 1111 Kentwood ave Cupertino, dropped listing price by $130k to $1.6million
4. 945 W Cardinal dr Sunnyvale, dropped listing price by $250k to $1.6million
5. 3043 Harding ave Santa Clata, dropped listing price by $40k to $1.47million
6. 10290 Sterling blvd Cupertino, dropped listing price by $300k to $1.98million

Few more to the list

7. 52 Claremont ave Santa Clara sold for $100k less than asking at $2.25million on 11/2/18
     (asking price was reduced by $150k in Aug 2018)
8. 1442 Wright Ave Sunnyvale CA sold for $125k less than asking at $1.6million 11/2/18
     (asking was previously reduced by $275k !!)
9. 10380 Oakville ave Cupertino, sold for $50k less than asking at $1.94mill on 11/19/18
     (asking price was already reduced by $100k)
10. 1299 Pimrose way Cupertino dropped listing price by $100k to $1.79mill

  With all this data, trend is clear. This is definitely a downturn in Bay area real estate. Only question is how bad and how long is this going to be ?!