Sunnyvale Condos

January 2024

Sunnyvale Condos are in very high demand due to their proximity to many large high-tech companies, such as Google, LinkedIN, Microsoft and others. Note that the market data below includes both Condos and Townhomes. Click on these links for information on the Sunnyvale Community and Schools.

The median price declined about 7% compared to 2022, but are equal to 2020-21 and 2018. The annual increase in the median price for Sunnyvale condos have averaged 6.5% per year (CAGR) over the past 25 years and have doubled in value over the past 10 years.

Market demand for Sunnyvale Condos remains strong. The average Annual Days on Market (red line) remains at historic lows. The average Annual Sales vs. List Price (blue line) is still slightly over list. This reflects that Sunnyvale Condos are still selling quickly, but with fewer competing offers driving up the final sales price.

The Supply of New Listings (blue line) are 15% below 2014-18 levels following a huge spike in 2021. This chart is updated once a year at year-end.

Sunnyvale Condos typically range in price from $500K up to $2M.  

The scatter chart above shows both the distribution of the size of condos and the $/SQFT.

Quarterly averages show the dip in 2019 when interest rates were raised following the financials crisis and the current decline following the recent increase in rates.

The Monthly Median Prices shows a softening in condo values. Keep in mind that the fluctuation may be due to a change in the mix of condos selling in a particular month, not necessarily just changes in home values.

Days on market returned to historic lows in May-June. The spikes are typically in Dec-Jan during the slowest time of the year.

The average Sales vs. List Price percentage remains below 5% reflecting fewer competing offers.

Condos selling during the first two weeks on market typically sell for over list, while homes on the market typically sell for under list.

The supply of New Listings is noticeably lower than prior years.

The number of Active Listings is dramatically lower.

The number of Sales per month has also declined from prior years.

Source: The data above is obtained directly from MLSlistings, the multiple listing service (MLS) serving Santa Clara and San Mateo counties. The information is deemed to be accurate, however is not guaranteed.