This paper applied the multiple structural changes testing models of Bai and Perron (1998) to detect housing prices of Taipei city and Taipei county. We found that there were three structural changes in both Taipei city and Taipei county during 1981 to 2001. This result broke the saying of only one structural change in Taiwan real estate market after 1980. The structural changes times of Taipei city were 1988Q2, 1994Q1, and 1998Q1, and their confidence intervals were 1987Q4 to 1988Q3, 1993Q3 to 1996Q2, and 1996Q4 to 1998Q4. The structural changes times of Taipei county were 1988Q3, 1992Q3, and 1998Q4, and their confidence intervals were 1988Q1 to 1988Q4, 1991Q3 to 1994Q4, and 1998Q3 to 1999Q2. Although the structural change times of Taipei county often lagged behind Taipei city, it was not the truth for the second structural change. It implied the close relationship between real estate markets of Taipei city and Taipei county still would change over time.