Cupertino Homes

July 2024

Cupertino is home to Apple and its new “space ship” headquarters. Top-rated schools and easy access to 280 and 85, makes Cupertino a very desirable city in Silicon Valley. Click here for more information on the community and its schools.

Cupertino homes are showing a strong increase in values this year. Annual price appreciation has averaged 6.6% per year (CAGR) and have doubled over the past 10 years.

Market demand remains strong. New listings continue to sell quickly with average days on market at historic lows. The final sales price vs. list price percentage (blue line) is at historic highs.

The annual supply of New Listings in Cupertino homes (blue line) has declined by 25% compared to 2013-20 following a spike in 2021. The number of Sales (red line) followed New Listings. This chart is updated once a year at year-end.

Cupertino homes typically sell in the $2M to $4M price range. The chart above shows the distribution of home price by number of bedrooms. 

The scatter chart above shows the distribution of both size of home and $/SQFT. This provides a good view of the size homes available in Cupertino.

Quarterly median price is the same as this time in 2021 preceding the short-term spike in 2022.

The monthly median price for Cupertino homes showing is consistent with 2022. Keep in mind that the monthly fluctuation may be due to a change in the mix of homes selling in a particular month, not necessarily changes in home values.

The monthly average Days on Market remains at historically low levels. The spikes are typically in Dec-Jan during the slowest time of the year.

The average final sales price over/under list price percentage are returning to reasonable levels suggesting an increase in the number of competing offers.

Final sales price vs. List price varies significantly by number of days on market. Homes 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 for Cupertino homes appears is ~25% lower than prior years. Note the seasonality with December typically being the low-point during the year. 

The Inventory of Active listings has also declined as the supply of new listings declined.

The number of sales per month is lower than prior years.

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.