2013 Home Price Increases in the Silicon Valley and San Mateo County

Home prices soared in the Silicon Valley and San Mateo County in 2013

Many of you have read in the newspapers, heard on the TV news, seen headlines about the current booming economy of the Silicon Valley and San Francisco regions. Companies are hiring, expanding, starting up. Freeways are getting more congested, even with an increase of remote workers and private buses taking people to Google, Facebook, Apple Computers, Genentech and elsewhere. High tech and bio tech workers command large salaries; IPOs created another large group of high-wealth individuals.

Nowhere is this growth more apparent than in the housing market, where we have had many ready and willing buyers, and not enough homes on the market for them to buy.

Take a look at this chart. It clearly tells the story of what is happening in the towns in my area. These figures were taken directly from our Multiple Listing Service, and don't include private, off-market sales.

Silicon Valley & SMC price 2013

What will 2014 look like? While few people expect the prices to increase at these extreme levels, most of us do expect to see solid gains, most in the single-digits.

Homeowners, with the high demand from buyers, if you are thinking of selling any time soon, we should talk to see if now is the right time for you. And buyers, while competition is high, interest rates are still low now, at the beginning of 2014, making this a good time for many to buy that home and set down roots in the community. Let me know if I can help.

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

Lottie Kendall, Realtor®

Today | Sotheby's International Realty

San Carlos, California, 94070

CA BRE#01215160; 650-465-4547

Lottie@LottieKendall.com;

www.LottieKendall.com

www.SFCondosForMe.com

 

 

Comment balloon 6 commentsLottie Kendall • January 14 2014 07:32AM

Comments

super report to share showcasing the local market to your area buyers and sellers!

Posted by Mark Loewenberg, KW 561-214-0370 (KW of the Palm Beaches) almost 4 years ago

These statistics will shock some prospective home buyers but they need to understand the current market conditions.

Another great report!

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) almost 4 years ago

That is some serious price appreciation Lottie and the lack of inventory is obvious in those stats.  Good luck with finding a few more sellers in 2014.

Posted by Scott Larson, Park City, Utah Real Estate News (BHHS/Utah Properties) almost 4 years ago

Thanks, Mark. Buyers and sellers are amazed at our market.

Roy, it's tough to be a home buyer in our area - it's nice here, and not many people choose to leave!

Scott, the SF peninsula has a very limited amount of land, and a robust job market, hence the costly properties, becoming more so each year.

Posted by Lottie Kendall, Serving San Mateo County and San Francisco (Today | Sotheby's International Realty) almost 4 years ago

Lottie - Once again you show your clients why you are a Silicon Valley real estate professional that is on top of current real estate market trends and data with your timely market reports for the area!

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) almost 4 years ago

Thanks, Laura. I used that chart in my newsletter, and a number of people have been amazed at the appreciation rates up and down the Peninsula in 2013.

Posted by Lottie Kendall, Serving San Mateo County and San Francisco (Today | Sotheby's International Realty) almost 4 years ago

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