Can you call some of the most expensive zip codes in Silicon Valley home and still pay under $1 million?
Taking into account the transactions closed in May in Silicon Valley’s hottest zip codes, the answer would be … only if you don’t mind living in a condo! The only properties we found under $700,000 were 3 one-bedroom apartments in Belmont and San Carlos; sale prices of residential houses started just slightly under $1 million.
Here’s what was available “for a bargain” last month in one of the country’s most expensive real estate markets:
#5. 832 Azure Street, Sunnyvale, 94087
Sale price: $965,000
This end unit went through a series of upgrades which almost doubled its value since 2008 (the last time it was sold). In May, the 1,100 sqft house found a new owner who paid $965,000 for it.
#4. 915 Marsh Rd, Menlo Park, 94025
Sale price: $955,000
915 Marsh Street is a 3-bedroom, 1-bathroom house built in 1950. It’s cute, bright, and elegantly decorated, and its new owners paid a lot less than last year’s average home price for the 94025 zip code last year ($1,350,000). The final sale price, however, exceeded, its initial asking price of $848,000 by more than $100,000.
#3. 633 Elm St #214, San Carlos 94070
Sale price: $675,000
In 2014, the average home price for the 94070 zip code (San Carlos) was $1,210,000. At half the price, buyers should expect to find something similar to this 775 sqft condo. The best part — it comes with a fireplace!
#2. 1101 Continentals Way #107, Belmont, 94002
Sale price: $450,000
This apartment might have only 740 square feet, but it lets you live in an area in Silicon Valley where average home prices were $1,200,000 last year. The new owners paid $450,000 for it.
#1. 300 Davey Glen Rd, #3708, Belmont, 94002
Sale price: $393,000
The least expensive Silicon Valley real estate transaction is this one-bedroom apartment covering 735 square feet.
Cheapest Silicon Valley Home Sales in May 2015
|No.||Property Address||Sale Price||Size (sq. ft.)|
|1||300 Davey Glen Rd, #3708, Belmont, 94002||$393,000||725|
|2||1101 Continentals Way #107, Belmont, 94002||$450,000||740|
|3||633 Elm St #214, San Carlos 94070||$675,000||775|
|4||915 Marsh Rd, Menlo Park, 94025||$955,000||1,070|
|5||832 Azure Street, Sunnyvale, 94087||$965,000||1,100|