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Silicon Valley has for years been the most expensive housing market in the country and has followed the trends of the technology industry as much as the housing industry. And it looks like this trend has nit changed. With a 14 percent decline in sales, the Valley showed an average selling price of 722,000 dollars per home, a new all-time high for the region, and a 14 percent increase over the past year.

In another milestone, the median price of condos sold hit the $500,000 mark in the county for the first time. That’s up 22 percent from February 2005.The number of new and existing houses and condos sold in the county, meanwhile, dropped 14 percent compared to a year earlier, with 1,614 homes changing hands. The figures were released Thursday by DataQuick Information Systems, which obtains the data from public records of completed home sales.

Though it may seem counterintuitive that sales volume dropped while prices rose, it’s a normal phenomenon for a real estate market coming out of a frenzied period, said John Karevoll of DataQuick.Sales are “showing a downturn in volume, but not nearly enough to tug prices down. If we continue to see a 15 percent decline in sales and it goes on for another year, then we’ll see some downward pressure on prices. But not with today’s numbers. via MercuryNews.com

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