Newark real estate market trends are particularly interesting when compared to Milpitas. Both had house prices of about $200 sq/ft in 1999, and climbing to about $425 sq/ft in 2006. In 2009 Newark dropped to about $260 sq/ft while Milpitas dropped to about $320. By 2016 Newark prices climbed to about $460 sq/ft while Milpitas climbed to about $540. Clearly the downturn hurt Newark much more than it did Milpitas.
If you compare the demographics of Newark to the demographics of Milpitas, the Milpitas population has a 10% higher population percentage with college degrees, and a $10k higher annual average salary.
The higher average education and likely more high tech employment in Milpitas seems to have lead to a stronger recovery.
Juliana Lee - Silicon Valley Homes For Sale - KW Palo Alto Real Estate Office
Comments(0)