In short, 2014 was another challenging year to be a buyer in Silicon Valley.The moderate interest rate increases that were forecast at the beginning of the year never materialized and would-be sellers, apparently confident in the continued price appreciation, felt no rush to "cash in". Therefore, inventory remained tight throughout the year while demand remained high given our blessedly buzzing local economy, driving double-digit price increases in most cities (Menlo Park with a whopping 21%!).
Santa Clara County report below, scroll down further to see San Mateo County. Please feel free to contact me if you have any specific questions.