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Cupertino - view from Ridge VineyardsHow’s the Cupertino real estate market?

The Cupertino real estate market warmed a little in February, but the sale to list price ratio remained below 100%.

Here are the most recent real estate statistics, via my Cupertino Real Estate Report.

Cupertino Real Estate market – Closed Sales and Trends at a Glance

(If you’re viewing the chart below on a mobile device, please swipe horizontally to see all columns.)

Home prices are up  from last month, but down substantially from a year ago. The market is cooling across several data points. Even so, the average days on market is a brisk 29. While there were only 5 closed sales in February, that’s probably a reflection of the low inventory in January. Now there are 35 pending sales and just 18 active listings, so the numbers for March should be stronger.

Trends At a Glance Feb 2023 Previous Month Year-over-Year
Median Price $2,512,800 (+1.5%) $2,475,000 $3,225,000 (-22.1%)
Average Price $2,593,740 (+9.1%) $2,376,670 $3,218,250 (-19.4%)
No. of Sales (-16.7%) 6 (-37.5%)
Pending 35 (+29.6%) 27 35 (0.0%)
Active 18 (+50.0%) 12 16 (+12.5%)
Sale vs. List Price 99.6% (+0.2%) 99.4% 134.9% (-26.1%)
Days on Market 29 (+128.8%) 13 (+376.7%)
Days of Inventory 97 (+62.0%) 60 54 (+80.0%)

 

Cupertino real estate market via the Altos Research weekly charts (they use LIST prices, not sale prices):

 

 

The Altos research chart above updates approximately once a week. The latest update says it is in a strong seller’s market, but the market action index is falling.

Cupertino median list price of houses by price quartile (Altos Research)

 

 

Real Estate Market Chart by Altos Research www.altosresearch.com

Median List Price (half of all homes are listed for more, half for less):

Real Estate Market Chart by Altos Research www.altosresearch.com

 

Here’s the same data just for the top quartile, the most expensive properties (luxury homes segment):

Real Estate Market Chart by Altos Research www.altosresearch.com

Median List Price (all quartiles combined)

 

Real Estate Market Chart by Altos Research www.altosresearch.com

Cupertino Days on Market by Price Quartile: What’s Selling Fastest

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

The Cupertino Real Estate Market: Condominium and Townhouse Segment

Altos chart using LIST pricing data:

 

Given the usually small number of sales, this data can change drastically, which skews the trends and makes this information less reliable, so take these statistics with a grain of salt.

This is an active seller’s market for condos and townhomes, but calmer than the single family home market, and of course the trend is toward softening or leveling off now. Here’s a quick look at the Cupertino condominiums and townhouses for sale or recently sold:

Cupertino real estate market for condos and townhomes

Since there were no closed sales in January, there’s no month over month data.

Trends At a Glance Feb 2023 Previous Month Year-over-Year
Median Price $1,300,000 (N/A) $0 $1,475,000 (-11.9%)
Average Price $1,294,290 (N/A) $0 $1,608,360 (-19.5%)
No. of Sales (N/A) 0 14 (-50.0%)
Pending (-41.7%) 12 20 (-65.0%)
Active (+166.7%) 3 (+14.3%)
Sale vs. List Price 100.7% (N/A) 0.0% 109.4% (-7.9%)
Days on Market 24 (N/A) 0 11 (+122.4%)
Days of Inventory 31 (N/A) 0 14 (+128.6%)

 

 

 

 

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See all Cupertino, California Real Estate Condos.
(all data current as of 3/26/2023)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

Authors

  • Mary Pope-Handy

    Silicon Valley Realtor, selling homes in Los Gatos, Saratoga, San Jose, Silicon Valley, and nearby since 1993. Prolific blogger with a network of sites.

  • Clair Handy

    Realtor, GREEN | DRE 02153633 | Christie's International Real Estate - Sereno