Home prices in Palo Alto have more than doubled in the past decade

Silicon Valley is home to some of the biggest tech companies and wealthiest people on the planet.

All of that wealth has led to an extremely bloated real estate market, where even teardowns sometimes cost several millions of dollars.

Real estate listings site PropertyShark created a map that shows just how drastically Santa Clara County home prices rose between 2004 and 2014.

The redder a particular area, the greater the increase in median sale price per square foot.

The rise in home prices is pretty pronounced across the region, but nowhere is it more severe than in Palo Alto, home to Stanford University and noted tech executives like Facebook CEO Mark Zuckerberg, Apple CEO Tim Cook, and Yahoo CEO Marissa Mayer .

According to PropertyShark’s analysis, median sale prices have more than doubled in certain parts of Palo Alto.

In Leland Manor, for example, the price per square foot has risen 107% from $US752 in 2004 to $US1,612 in 2014. In South Gate, the price per square foot has risen 126% to reach $US1,371 last year.

Mountain View, home to Google headquarters, has also seen some big changes in the last decade.

In Central Mountain View, the median sale price has risen 69% to reach $US947 per square foot. Homes in Miramonte – Springer had a median sale price of $US1,000 per square foot in 2014, a 47% increase.

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