How’s the Cupertino real estate market?
The real estate market in Silicon Valley can sometimes be a little quirky, so I like to approach this question from a few angles. In this article I’ll make use of charts from the mls which I created myself, plus my monthly reports from my REReport subscription and also from my weekly updated charts from Altos Research, which uses listing data (not solds) and is automatically updated this week. The article is a bit long but I think much more comprehensive giving the multiple methods of answering the question of how the Cupertino real estate market is faring.
Charts from MLSListings.com
Cupertino has been in a buying frenzy for the last couple of years with a wildly hot seller’s market. Inventory is starting to rise again, which should (in theory, at least) cause some calming. In the chart below, which I created from MLSListings.com, please see the relationship between available homes and those which have sold. The closer these bars are to each other, the hotter the market, and when they begin to distance themselves, there’s a cooling in progress.
Next, a rough idea of pricing in this city – a view of listings by price range. This gives prospective buyers a sense of what it costs to buy here, and a sense for sellers as to whether their price point is mainstream or perhaps too high for the area (not too many in the over $3 million range).