Looking at statistics surrounding Sunnyvale homes for sale, we see several notable trends. First, the number of single-family homes on the market is rising as is the number of sales finalized each month. The median sold price is at a two-year high. Additionally, the number of days on the market (DOM) for sold homes is dwindling.
Recap of stats for Sunnyvale homes for sale, homes sold, prices and DOM
In April 2015, there were 123 Sunnyvale homes for sale, the largest number since August 2014, when there were 125. In the last three months, the number of available homes has been on the rise:
- April: 123 homes listed
- March: 101
- February: 81
- January: 51
Though the totals weren’t as high, overall, the same period in 2014 also saw a solid increase in homes on the market:
- April: 102
- March: 83
- February: 77
- January: 56
After a slow start in January, homes sales have picked up quite well. In January, 22 single-family homes were sold in Sunnyvale. February followed with 30 sales, March with 56, and April with 66. Across the last two years, only two months saw as many sales as this past April: 66 in August 2013 and 67 in August 2014.
April’s median sold price of $1,423,000 is the highest in more than two years. The price has risen steadily for the past three months:
- January: $1,035,000
- February: $1,272,500, up 22.9%
- March: $1,362,500, up 7.1%
- April: $1,423,000, up 4.4%
Even with rising prices of sold homes, buyers and sellers are closing deals at paces that rival those of many other Silicon Valley communities, where “blink and you’ll miss it” is the buzzword.
The average days on the market for Sunnyvale sold homes in January was 30. That shrunk to 25 in February and 12 in March. In April the DOM was 14. Compare this with April days on the market for select other communities:
- Sunnyvale: 14
- Menlo Park: 12
- Mountain View: 14
- Palo Alto: 16
- Woodside: 91
It will be interesting to watch the price of Sunnyvale homes for sale as we move into summer. We’ll also want to keep an eye on the speed of sales, which currently is about as fast as in any community in the Valley.