Silicon Valley mansions linger on market in real estate slowdown
Mon, May 23, 2016 - 5:50 AM
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.
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.