We’re in Silicon Valley, the Mecca for innovation and entrepreneurship. The weather can’t be beat and the opportunities are flowing.

The demand for Peninsula real estate is at an all-time high, while the number of housing options continues to shrink.

These are just some of the factors that have resulted in Coldwell Banker’s annual Home Listing Report ranking 10 cities in Santa Clara and San Mateo counties as part of the top 20 most expensive markets in the country.

“The success of many of our native tech companies has shined a spotlight on Silicon Valley and our real estate market in the San Francisco Bay Area,” said Rick Turley, president of Coldwell Banker Residential Brokerage in the San Francisco Bay Area, in a written statement.

Ranking at #1? Los Altos/Los Altos Hills. Following behind: #3 Saratoga, #4 Menlo Park, #5 Palo Alto, #6 Los Gatos, #10 San Carlos, #12 Cupertino, #15 Belmont, and #20 Redwood City.

For the average listing price of a 4-BR, 2 BA home in these cities, check out this article. 

Cities’ staffs have seen large numbers of housing development proposals, such as Google’s housing project in Mountain View and the Cargill Saltworks Development in Redwood City.

And as more and more tech companies begin to sprout up and down the Peninsula, employees will want to live closer to their workplaces. Is increasing the prices of homes the answer to the skyrocketing demand for real estate?  

Tell us in the comments why homes in the area are worth their price tags. Or if they’re simply overpriced. 

Article source: http://losaltos.patch.com/articles/is-real-estate-on-the-peninsula-too-expensive-poll