2011 was a good year for Sunnyvale CA Real Estate; total home sales were up 7.27% compared to 2010. In 2011, 841 homes sold (565 single family and 276 condo / townhouses) compared to 575 SFHs and 209 Sunnyvale condos / townhouses sold in 2010. The Median Home Price for Sunnyvale Single Family Homes decreased slightly from $795,000 to $785,000.
The Median Home Price for Sunnyvale condos / townhouses was also down to $455,000 from $472,000. This continues a trend where Sunnyvale CA home sales have increased year-over-year for the last three years while the medium home prices drop slightly.
The Complete Sunnyvale CA Real Estate Story
Unfortunately, the above numbers do not tell the complete Sunnyvale CA Real Estate story. What we’re really seeing is a shift in Sunnyvale CA home sales where more lower price homes in Northern and Central Sunnyvale are selling compared the Southern Sunnyvale (94087) where a majority of higher cost homes are located.
We’re also seeing a shift in Sunnyvale CA home sales to smaller single family homes and condo / townhouses. Sunnyvale Buyers are electing to purchase smaller homes as financing has been harder to obtain. Higher priced homes also require larger down payment and tend to entail Jumbo Loans (loans in excess of $625,000) which are more difficult for first-time buyers.
Which Sunnyvale CA Homes are Selling?
Consequently, it has become more challenging to sell larger, more expensive Sunnyvale CA homes unless the home is located in the Cupertino School District and/ or the home is in excellent condition. Excellent condition means: open floor plan, newer kitchen and baths, dual pane windows, newer roof, and more than likely no pool. In addition, the homes which are selling have recently been painted and staged.
Sunnyvale CA Real Estate Sales Volume Looks Positive for 2012
Regardless of all the above, most Sunnyvale home Sellers should be pleased as they were able to receive very close to their asking price. We don’t see any reason for this trend to change in 2012. In fact, we envision 550 single family homes and 280 condo / townhoues should sell in 2012. Unfortunately, we also believe Medium Home Prices will continue to drop slightly to $780,000 for Sunnyvale Single Family Homes and $470,000 for Sunnyvale condos / townhouses.
The 2012 Sunnyvale CA Real Estate Market is a Standout in the Silicon Valley
In summation, the Sunnyvale CA Real Estate market is very strong compared to most communities even in the Bay Area. This has to be great news for Sunnyvale CA homeowners. Why not, Sunnyvale CA has all of the characteristics of the perfect California city. Sunnyvale is a well run, safe city with wonderful weather, and easy access to all major job markets. Home prices are mid-range for area. Sunnyvale has all the charm of a small city, but easy access to the large Bay Area cities: San Francisco, Oakland and San Jose.
Sunnyvale CA Single Family Homes Market Statistics
- New listings in December – 27
- Active – 80
- Closed sales – 35 versus 38 in November
- Current Average Days on Market – 64 days
- Median Sale Price – $773,000
Sunnyvale CA Condos / Townhouses Market Statistics
- New listings in December – 11
- Active – 58
- Closed sales – 11 versus in 24 November
- Current Average Days on Market – 45 days
- Median Sale Price – $450,000
Tom Stynes – Sunnyvale CA Real Estate Broker®
I’m a proud to be a member of the Silicon Valley Association of Realtors, the California Association of Realtors, the National Association of Realtors and MLSListings the regional Multiple Listing Service. These relationships guarantee my Silicon Valley buyers immediate access to hundreds of the newest Silicon Valley listings added to the market each day while also providing my Silicon Valley sellers exposure to a vast network of buyers across the state, country and globe.
Whether you’re looking to buy or sell real estate in Santa Clara County California, my goal is to provide expert advice and exceptional customer service utilizing the latest, cutting-edge Internet marketing technology available.
As my customer’s attest, I am a committed and passionate Silicon Valley REALTOR® who prides myself on putting my customer’s priorities above all else. My determination and attention to detail allows my customers to receive first class service with utmost integrity.
I service Silicon Valley Real Estate sales in the following cities:
- Campbell Real Estate
- Cupertino Real Estate
- Los Altos Real Estate
- Los Altos Hills Real Estate
- Los Gatos Real Estate
- Mountain View Real Estate
- Palo Alto Real Estate
- San Jose Real Estate
- Santa Clara Real Estate
- Saratoga Real Estate
- Sunnyvale Real Estate