Take a look at the following graph which depicts the Average Price Per Square Foot for sold homes in the Bay Area City of Pleasant Hill. Pleasant Hill is adjacent to Walnut Creek, Lafayette, and Concord and is considered a pretty nice place to live. You can contrast this graph with one from Walnut Creek and Lafayette and you can really see the difference that location and public perception makes on the price of homes. While the schools in Pleasant Hill are good, they are rated lower that those in the surrounding cities which has an affect on desirability. I expect to see prices drop a bit more in Pleasant Hill over the next month or two and then level off.
