January 2024
Centrally located near many of the high-tech companies with cute Murphy Street and the rapidly expanding Sunnyvale Cityline development. Click here for additional information about the Sunnyvale community and schools.
The annual median price decline 5% in 2022, but is higher than 2021 which had a 16% jump. The annual increase in the median price for Sunnyvale homes has averaged 6.9% per year (CAGR) over the past 25 years.
Market demand for Sunnyvale homes remains strong. Homes are selling quickly with days on market (red line) at historically low levels. The average final sales vs. list price (blue line) is still very high and even higher if the home sells in the first week or two.
The supply of New Listings (blue line) is down by 10% compared 2012-20 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. Homes located within the Cumberland, Cherry Chase and Cupertino elementary schools are more in the $2M+ range.
The above chart gives you an idea of both the range of home sizes and their corresponding $/SQFT.
The Quarterly Median Price returned to 2021 levels after a jump during the first half of the year.
Monthly Median Prices are fairly consistent with 2021. 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 increased in Q2. Reflects fewer competing offers bidding up the price.
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 Monthly Supply of New Listings declined in 2023. Suggests the changes noted above are due to change in market demand, not supply.
The Inventory of Active Listings is lower than prior years.
The number of Sales are also lower than 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.