what's going on with Silicon Valley's house market?

While everyone is crying loud about house market slow down inevitable, the key cities in Silicon valley (Santa Clara County) 's price is going up...

sell price/listing | average March 07 - April 07
--------------------------------+--------------------------
Cupertino: 103% | 1.14m 1.225m
Los Altos: 103% | 1.64m 1.71m
Mountain View: 103.61% | 953k 950k
Palo Alto: 103.91% | 1.65m 1.7m
Santa Clara: 102.73% | 725k 753k
Sunnyvale: 103.65% | 815k 900k
--------------------------------+---------------------------

Over 100% means there are multiple offers and bidding war, therefore the sell price went over to the asking price.

data from http://www.sccaor.com/stats/2007/march_07.pdf and
http://www.sccaor.com/stats/2007/april_07.pdf