Sunnyvale is one of the main cities for Silicon Valley homes. Centrally located near many of the high-tech companies with cute “downtown” on Murphy Street and a rapidly expanding shopping district next to Murphy street.
This chart shows the distribution of home prices for single family residences in Sunnyvale during 2017. These are the final sales price, which were, on average, 13% higher than list price.
The annual median price increased 15.7% in 2017. The annual increase in the median price for Sunnyvale homes has averaged 7.2% per year since 1998 (CAGR).
The above scatter chart shows both the distribution of home sizes and how the $ per SQFT varies by size. Each closed sale is represented by a single dot.
Market demand for Sunnyvale homes is at an all-time high. Average Days on Market are at all-time lows and the final sales vs. list price is also at historic highs.
This scatter chart shows the distribution of how the final sales price compares to the current list price. Note that homes that sell after one weekend on the market typically sell for over list price. Each home sale in 2016 is represented by a single dot.
The annual supply of new listings for Sunnyvale homes has declined by about 35-40% over the past ten years.
A view of the quarterly median price provides some insight to how the current market is moving.
This monthly view of median prices for Sunnyvale homes provides more insight into the ebb and flow of our real estate market. Keep in mind that the fluctuation may be due to a change in the mix of homes selling in a particular month, not necessarily changes in home values.
The inventory of Active listings is significantly lower due to reduced supply of new listings and strong market demand that results in homes selling quickly.
The monthly supply of new listings for homes in Sunnyvale. Note the seasonality with December typically being the low-point during the year.
This Days on Market chart shows the monthly average for Sunnyvale homes sold. The spikes are typically in Dec-Jan during the slowest time of the year.
The monthly average sales price over/under list price percentage provides a little more insight into how the current real estate market is moving.
Interestingly the monthly number of Closed Sales appears to be relatively consistent.
Sources: 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.