House prices may have doubled (even that sounds high), but in a lot of places condo prices are down to where they were 5 years ago, with listing prices often being reduced from the initial price. This is the opposite of what you hear about houses where they are being sold above list price.

In any discussion about housing prices in the Bay Area it's important to distinguish between condos and houses. The markets are very different because lots of new condos are being built while the supply of houses is (mostly) fixed.