Cupertino Real Estate Market Trends and Statistics

Cupertino real estate market will be more expensive for view homes in nearly all cases -image taken from Ridge VineyardsHow’s the Cupertino real estate market? The Spring market is underway and the market is hot. The best homes are getting multiple offers and high overbids. Prices are up from last year, though down from last month. Some of this may be seasonality.

Our inventory has been extremely constricted, so it looks like these market conditions will persist for the near future, at the very least.

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

Here are the most recent real estate statistics, via our Cupertino Real Estate Report. The market is HOT! It has cooled just slightly from the month before, but not enough to bring any relief to weary home buyers.

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

 

Trends At a GlanceMay 2024Previous MonthYear-over-Year
Median Price$3,410,000 (-1.2%)$3,450,000$2,802,000 (+21.7%)
Average Price$3,278,860 (-7.1%)$3,529,810$2,747,450 (+19.3%)
No. of Sales22 (-33.3%)3322 (0.0%)
Pending24 (+60.0%)1517 (+41.2%)
Active17 (0.0%)1717 (0.0%)
Sale vs. List Price109.4% (-1.2%)110.8%104.0% (+5.2%)
Days on Market11 (+7.0%)1020 (-44.9%)
Days of Inventory23 (+55.2%)1523 (0.0%)

 

Prices are up annually, but off monthly. The market remains hot, though, as several data points underscore.

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

 

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