Los Altos House Prices Grew Faster Than Los Altos Condos

After 2020, Los Altos house prices have grown faster than condo prices. Although there has been more construction of condos in Silicon Valley than houses for several years, the reduced demand for condos seems to be related to remote work opportunities brought about because of COVID-19 health concerns.
East Bay Condo Prices
Look at condo prices for cities just across the Dumbarton Bridge, including Fremont, Newark, and Union City. Condo prices have continued to grow although not as fast as house prices.

If you compare Newark house prices to those of cities on the SF Peninsula, you will see that they have also grown slightly faster.
It appears that remote work may have at least temporarily shifted the ratio of the cost of housing on the peninsula to the cost of housing towards the edge of Silicon Valley. With condos often being a first step into home ownership, condo owners would likely be more willing to move to something that has become more desirable since they likely have lower proposition 13 tax benefits and greater improvements in their finances.
The ratio between condo and house prices had been fairly constant for 20 years, and it will likely return to that value. Condo prices may begin to grow faster than house prices.