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Silicon Valley mansions linger on market in real estate slowdown

A home listed for sale at US$7.5 million on Seale Avenue, Palo Alto. Demand is cooling for houses at the high end, even as interest remains robust for more moderately priced properties.

San Francisco

A CUSTOM-BUILT home in the heart of California's Silicon Valley had its price cut by US$500,000 last week after sitting on the market since the end of March - a move that would've been almost unfathomable a year ago and a signal that frenzied demand has peaked.