While we’re all well aware that Facebook’s IPO has gone less-than-swimmingly for most everyone involved, there could be one metric where the Facebook’s foray into the public has had a upward trending effect.
Online real-estate company Zillow looked at the data and found that the Silicon Valley housing market is hot – really hot. They looked at the median home values in Menlo Park as well as other areas surrounding it like Palo Alto, Los Altos Hills, and Woodside. They discovered that Silicon Valley home values are not only up to 15x the median home value around the country, but there has been significant movement that ocrrresponds with the Facebook IPO
Not only that, but in the roughly three-month window between Facebook filing for the IPO and the actual IPO, million-dollar house listings in Menlo Park began to take a larger chunk out of the entire pool – 87% more.
To put the Silicon Valley housing uptake in perspective, Zillow points out that you could buy roughly 24 homes in Detroit with $1 million. In Menlo Park, $1 million will buy you one 1500 square foot home.
Check out the full infographic below:
