Because of the already high demand in that price range, I dont think many more homes will hit the market. Folks whose homes are in that range can sell today. I believe that the homes we will see on the market following Facebook's IPO will be much higher in the $6 million+ price range.
Depends on the zip code. If it's Cupertino or perhaps anywhere in Silicon Valley I'd say the IPO will definitely move the needle on the meter in a positive direction. If it's Stockton, CA then Phil is probably spot on..........WHO CARES!