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? In December and January both, sales were down month over month, which is not atypical for this time of year. Home buyers getting into contract in November or December typically get the best prices of the year with the least competition (and often lowest interest rates, too, as that is also a supply and demand issue).

We are seeing and hearing of multiple offers and massive overbids in many parts of the valley right now. How about Cupertino? A quick look just now (Feb 14) at the pending sales (no contingencies) finds:

  • 14 houses / single family homes sale pending
  • Average days on market = 13 (super fast)
  • 10 of the 13 homes sold in 9 days or less (red hot)
  • list prices range from about $2.2 mil to about $3.9 million with an average list price of about $3 million (clearly not just entry level homes are selling well)

The pending sales are our window into the near future and from these we can see a market which is heating up as compared to the closed sales in the table below from the RE Report. Buyers, buckle up – it is a seller’s market and it’s deepening in that direction!

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! With just 10 sales in January, the prices appear to be lower than in December, but these aren’t enough data points to be sure.

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

Trends at a Glance

Trends At a GlanceJan 2024Previous MonthYear-over-Year
Median Price$2,465,000 (-8.7%)$2,700,000$2,475,000 (-0.4%)
Average Price$2,580,400 (-9.0%)$2,835,390$2,376,670 (+8.6%)
No. of Sales10 (-33.3%)15(+66.7%)
Pending(0.0%)9(+80.0%)
Active15 (+114.3%)7(+87.5%)
Sale vs. List Price96.6% (-4.0%)100.6%99.4% (-2.9%)
Days on Market20 (-52.2%)4213 (+62.4%)
Days of Inventory45 (+221.4%)1440 (+12.5%)

 

 

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

 

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