Los Altos House Prices vs. Condo Prices
Since 2020, Los Altos condo prices have fallen relative to Los Altos house prices. This could easily be a short-term disruption and, thus, an opportunity for Los Altos condo buyers to experience greater price growth than they would with a Los Altos house.
Newark House Prices vs. Condo Prices
The Tri-Cities, as Newark shows, have continued having rising prices for both houses and condos after 2020.
Remote Work Shifted Demand
COVID-19 pandemic health measures expanded remote work opportunities in 2020. People choosing between purchasing a condo in Los Altos and a house in the Tri-Cities would see a different cost vs. reward when making that choice than previously seen. Some Los Altos condo owners would even consider moving from their Los Altos condo to a Tri-City house. Ultimately, the lack of new construction in Silicon Valley will push the price balance between houses and condos back to where it was, as the option for moving is satisfied.
Los Altos condo prices could grow faster than Los Altos house prices.