2013 Condo and Townhouse Prices - Silicon Valley and San Mateo County

Last week I reported on what happened with prices of single-family homes in San Mateo County and the Silicon Valley in 2013, and how that compared with 2012. In every town on which I reported, prices were up--way up--over 2012.

Now we'll take a look at the condominium and townhouse sales in those same areas. This market segment had a wider swing of results, with lower-cost Pacifica soaring up 51% in one year, while high end Menlo Park obtained only 91% of 2012 median prices. However, Menlo Park's next door neighbor, Palo Alto, with even more costly properties, was up 6%. San Carlos and Belmont each saw appreciation of 33% and 32% respectively, a higher increase than in the single-family home segment.

Townhouse and condo median prices SMC-SCCSellers, if it makes sense for you to sell, you might wish to take advantage of the strong market in San Mateo County and the Silicon Valley and sell sooner rather than later.

Buyers, although prices are high, appreciation is anticipated in 2014, although not at the same rate as in 2013. Buying now, before interest rates reach the expected 5.0% range, increases your purchasing power; equally important, it gives you a place to call home, settle in and put down roots in the community.

 

--- 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 2 commentsLottie Kendall • January 18 2014 08:28PM

Comments

Amazing rebound in your market Lottie and having spent part of my adult life in your beautiful area I can see why.

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

2013 was definitely the year the condo market soared, Scott.

Posted by Lottie Kendall, Serving San Mateo County and San Francisco (Today | Sotheby's International Realty) over 3 years ago

Participate