Prices shot up during the tech boom in the late 1990s then dropped after the bust. They peaked even higher in 2006 before hitting a recession low in 2011. They have been on the upswing again, but as of April, the region as a whole is still 14 percent lower than its previous peak in May 2006.
That's not true everywhere. Several cities in the region have already zoomed past previous peaks such as San Francisco, Fremont, Berkeley, San Mateo, Redwood City, Alameda, Pleasanton, Menlo Park, Foster City and Lafayette.