Sunnyvale Homes

July 2022

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. Click here for additional information about the Sunnyvale community and schools.

The annual average median price rose 14% during the first half of 2022.  On-track to continuing our 10-year market cycle after a pause in 2019. The annual increase in the median price for Sunnyvale homes has averaged 7.3% per year since 1998 (CAGR).

Market demand for Sunnyvale homes has jumped back to historically high levels. The average final sales vs. list price (blue line) has jumped back to high levels. The average days on market (red line) remains at historically low levels.

The supply of New Listings (blue line) remains at historically low levels. The number of Sales (red line) also declined the lowest number in 20 years.  This chart is updated once a year at year-end.

Sunnyvale single family residences start at $1.0M with homes located within the Cumberland, Cherry Chase and Cupertino elementary schools command a premium. 

The $ per SQFT varies significantly by size of home. The above chart gives you an idea of both the range of home sizes and their corresponding $/SQFT. 

The Quarterly Median Price chart shows a significant jump in 2022 following a strong ramp-up during 2021. 

Monthly Median Prices are fairly consistent during the first half of 2022. Suggests values may be leveling-off for the year. Jumps in prices typically occur during the Mar-May high-season with buyers looking to move in time for the new school year. 

Monthly Average Days on Market remain at historic lows. 

The Monthly Average Sales vs. List Price jumped dramatically during Q1 and are now declining during Q2..

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. Note: this is for 2021 sales using the current list price.

The Monthly Supply of New Listings has remained relatively consistent since 2012. Suggests the changes noted above are due to change in market demand, not supply.

The Inventory of Active Listings is consistent with prior years.

The number of Sales are increasing slightly. 

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.