By Brittney Sherman
Santa Clara County property values have reached a record $726 billion, even as overall growth slows to its lowest rate in over a decade due to economic uncertainty and a cooling development market. According to County Assessor Larry Stone, home sales—up 3%—accounted for 86% of the growth in the latest assessment roll.
Stone, who will retire on July 7 after decades of service, noted a sharp shift in the commercial real estate landscape. “Just a few years ago, office buildings were the star,” he said. “Now we’re seeing weekly foreclosures in offices, hotels, and industrial properties.”
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