What is happening in the real estate market in the San Mateo County and Silicon Valley towns and cities in which I work?
Take a look at the first quarter of 2014 compared with the first quarter of 2013
Two things are immediately apparent: in every town which I tracked prices rose--often substantially--in 2014; and in every town the number of sales decreased. This decrease in sales numbers has nothing to do with a faltering real estate market, but rather with the paucity of listings for the many well-qualified buyers who wish to own a home here.
The other interesting fact shown here is that the cities of Santa Clara and Pacifica still are quite affordable for our buyers. Santa Clara is in the heart of the Silicon Valley, home to the University of Santa Clara and soon to be home to the San Francisco 49er's. Pacifica, in northern San Mateo County, stretches from Skyline Boulevard south along the ocean and into the coastal valleys. Many areas of Pacifica are just minutes away from BART to whisk one to downtown San Francisco, and short commutes to the bio-tech areas and San Francisco International airport.