Survey says average Bay Area homeowners are sitting on million dollar assets The Bay Area's housing market is hot. Jesse Gary reports SAN JOSE, Calif. - A new survey shows the average Bay Area homeowner is sitting on a million-dollar asset. Monday in Los Gatos, realtor Joe Velasco hurried to prepare a property for sale. These days, his schedule allows time for two things. Selling seven-figure homes, and developing homes to be shown and sold for seven figures. "There’s a lot of money here in the Valley, in the Silicon Valley and the Peninsula with the high-tech that is ongoing here in the Bay Area," he said.