|By PR Newswire||
|March 11, 2014 10:00 AM EDT||
MENLO PARK, Calif., March 11, 2014 /PRNewswire/ -- Research by Pacific Union, the San Francisco Bay Area's leading luxury real estate brokerage, reveals that home prices in San Mateo County's most desirable cities are booming while available homes for sale remain in short supply.
The data, sourced from MLSListings, showed that median sales price and price-per-square-foot appreciation in four key Silicon Valley cities outpaced the number of homes sold by more than 200 percent between 2011 and 2013.
The median sales price for a single-family home in Atherton, Menlo Park, Portola Valley, and Woodside averaged $2.02 million in 2013, and buyers paid an average of $886 per square foot, Pacific Union said.
Meanwhile, the combined months' supply of inventory in the four communities has slowly but steadily declined, from 3.5 in 2011 to 3.1 in 2013. An influx of foreign buyers may be further constricting inventory, Pacific Union said; such buyers often purchase properties as an investment without returning an existing home to the market, helping push prices even higher.
According to the company, serious home hunters in this prestigious region of Silicon Valley shouldn't assume that price appreciation will level out soon and would do well to weigh the potential consequences of waiting to enter the market.
"Prices will likely continue to rise in this inventory-constrained environment," said David Barca, vice president of Pacific Union's Silicon Valley region.
"The continued constraint of supply against the velocity of existing demand, if sustainable, could drive single-family-home median prices to approach $1,300 per square foot in 2016," added Mark A. McLaughlin, CEO of Pacific Union.
To read the full report, please visit http://bit.ly/1fd1M9L.
About Pacific Union
Pacific Union is Northern California's premier luxury real estate brand. It operates in eight regions, including Contra Costa County, the East Bay, Marin County, Napa County, San Francisco, Silicon Valley, Sonoma County, and the Tahoe/Truckee region. The brand enjoys a relationship with Christie's International Real Estate, the leading global organization of residential real estate service firms.
Pacific Union offers a full range of personal and commercial real-estate services, including buying, selling, and relocation.
Locally owned, Pacific Union's leadership operates with an entrepreneurial mindset and unwavering commitment to deliver exceptional service and expertise to ensure deep, long-standing client and agent relationships. In 2012, the San Francisco Business Times recognized Pacific Union as one of the Bay Area Top 100 fastest-growing companies, and the company was also included in the Inc. 5000 list – the only full-service real estate brokerage in the Bay Area to make the cut.
- 28 offices
- More than 550 real estate professionals
- Ranked #3 in U.S., 2012 average sale price (REAL Trends)
- #3 largest real estate firm in the Bay Area, 2012 (San Francisco Business Times)
- Ranked #5 in U.S., 2012 sales volume per associate (REAL Trends)
- Ranked #18 in U.S., 2012 total sales volume (RISMedia)
- Named to 2012 Inc. 5000 list
- Named to 2012 San Francisco Business Times Fast 100 list
- CEO Mark A. McLaughlin received 2013 RISMedia Leadership Award for innovation in real estate
For more information, please visit us at www.pacificunion.com, get our real estate news and insights at blog.pacunion.com, or find us on Facebook (facebook.com/pacificunionrealestate) and Twitter (@pacunion).
SOURCE Pacific Union
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
May. 1, 2016 07:00 PM EDT Reads: 714
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
May. 1, 2016 06:00 PM EDT Reads: 801
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
May. 1, 2016 06:00 PM EDT Reads: 1,126
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
May. 1, 2016 05:00 PM EDT Reads: 990
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
May. 1, 2016 04:30 PM EDT Reads: 1,463
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
May. 1, 2016 04:00 PM EDT Reads: 901
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
May. 1, 2016 03:15 PM EDT Reads: 1,011
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
May. 1, 2016 01:45 PM EDT Reads: 1,215
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
May. 1, 2016 01:30 PM EDT Reads: 1,565
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
May. 1, 2016 01:30 PM EDT Reads: 800
Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified – now it's a component-based well-performing framework. This immersive one-day workshop at 18th Cloud Expo, led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and the product company SuranceBay, will provide you with everything you wanted to know about Angular 2.
May. 1, 2016 01:00 PM EDT Reads: 1,741
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
May. 1, 2016 12:45 PM EDT Reads: 795
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
May. 1, 2016 12:15 PM EDT Reads: 2,320
Unless you don’t use the internet, don’t live in California, or haven’t been paying attention to the recent news… you should be aware that self-driving cars are on their way to becoming a reality. I have seen them – they are real. If you believe in the future reality of self-driving cars, then continue reading on. If you don’t believe in the future possibilities, then I am not sure what to do to convince you other than discuss the very real changes that will roll out with the consumer producti...
May. 1, 2016 12:15 PM EDT Reads: 624
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
May. 1, 2016 11:45 AM EDT Reads: 1,487