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Silicon Valley Home Breaks Record For Highest Priced Per Square Foot, Says Report

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Eric Lieberman Deputy Editor
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A home in Sunnyvale, Calif., part of the rich tech industry hub known as Silicon Valley, sold for a record price when comparing to the square footage, Mercury News reported Friday morning.

The outwardly simple, humble home was sold for $2 million — $550,000 higher than original asking price — showing how prized real estate is in the area.

Sunnyvale, along with nearby Cupertino, Mountain View, Menlo Park, and Palo Alto, among others, have increasingly become more and more desired over the years as big tech companies like Google, Facebook, Apple and several others have grown in power and success. Along with office buildings and headquarters, the corporations have massive campuses and living communities for employees in those aforementioned towns.

“It’s become the new hot market,” Jim Harrison, president and CEO of MLSListings, the firm that first reported the record, said of Sunnyvale, according to Mercury News.

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Amazon, a tech giant with headquarters in Seattle, is looking to add another massive commercial base outside of Silicon Valley. After reviewing 238 proposals from various localities, it has whittled down its search to 20 cities. Many observers suspect it will be away from the West Coast so it can spread out its operations and endeavors and harness relatively untapped talent.

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