Santa Clara County ("Silicon Valley") CA home prices hit $705,000 median

[Bush_Eats_Beef]

http://www.mercurynews.com/mld/mercurynews/news/local/1...

Just eight months after reaching $600,000, the median price of houses sold in Santa Clara County blasted past the $700,000 marker in June, hitting a record of $705,000.

That's up nearly 18 percent from a year earlier, and up 2.2 percent from May 2005, according to DataQuick Information Systems, which gathers data from public records of completed sales.

Median house prices hit the $600,000 mark in October, four full years after crossing the $500,000 threshold. One year earlier, in November 1999, the median reached $400,000 for the first time.

A total of 2,175 resale houses sold last month, down 11 percent from June 2004, which had the highest sales volume since DataQuick began keeping records in 1988. By normal standards, sales this June were brisk.