Silicon Valley Single Family Home Prices, first quarters 2013 & 2012

For over a year now, we've had a very strong sellers' market in the Silicon Valley and San Mateo County. Well-paying high tech jobs are growing in numbers, new businesses are being created, others are expanding.

Looking at the chart below (numbers taken from our multiple listing service) you'll see that the number of sales are down in almost all communities shown. That is indicative of our extreme shortage of listings rather than lack of buyers - people enjoy living here and aren't putting their homes on the market. For example, today there are 14 single family homes listed for sale in all of San Carlos, 17 in Belmont, 15 in Mountain View, 24 in Palo Alto.

But take a look at the median sales prices for first quarter 2013 compared with the same period in 2012. Hefty increases wouldn't you say? Median price increase in San Carlos almost 28%; Palo Alto roughly 33%; and Menlo Park topping out with a 40% increase!

Single family home price appreciation Silicon Valley

If you are a buyer today in the Silicon Valley and San Mateo County, you need a strategy to successfully compete in this market. There are various ways to make your offer stand out from the rest, so don't be discouraged. Call me if I can help.

--- Come for a visit; Stay for a lifetime!

Lottie Kendall, Realtor®

Pacific Union International

CA DRE#10215160; 650-465-4547

Lottie@LottieKendall.com

www.LottieKendall.com

Peninsula Living Business Page

www.SFCondosForMe.com

 

 

Comment balloon 7 commentsLottie Kendall • May 01 2013 09:32AM

Comments

Great information on home sales in the Silicon Valley Lottie.  It's great to see values coming up like that.  I bet a lot of home owners that last year were underwater are no longer underwater. 

Posted by Jim Patton, Realtor - Stanislaus & Merced county Realtor. (Century 21 M&M - 209-404-0816) over 5 years ago

Jim, home prices in many of our communities here are the highest ever. Our slump wasn't as severe as in many areas, so these increases have set new records. The average sales price in San Carlos is now over $1,000,000!

Posted by Lottie Kendall, Serving San Francisco and the Silicon Valley (Pacific Union International) over 5 years ago

Lottie - Great information for anyone following the Silicon Valley area.  Your home price increases are impressive!

Posted by Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com, Tahoe Real Estate Agent Helping Buyers and Sellers (Coldwell Banker, Tahoe City, CA (530) 414-1260) over 5 years ago

Great report and wonderful for your area

Posted by Sharon Lee, Retired and loving life (Sharon Lee's Virtual Assistance) over 5 years ago

Lottie, looks like we're not the only market that's short on homes and long on buyers. The increases in single family home prices in Silicon Valley is good news for local home owners. Thanks for sharing.

Posted by Nancy Laswick, Your REALTOR® For The Valley Of The Sun (United Real Estate) over 5 years ago

Amazing price increases indeed, Laura.

Thanks for taking a read, Sharon.

You, too, Nancy? When we get a buyer into contract we really feel happy!

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