Is Sunnyvale, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sunnyvale is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Sunnyvale has remained a Seller's Market.

Key Takeaway

Sunnyvale is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Sunnyvale, CA

How much do homes in Sunnyvale, CA cost?

Median Sold Price

$1,837,666

$1,215/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$123,416(+7.2%)

Key Takeaway

Homes in Sunnyvale have sold for 7.2% more than they did a year ago.

Summary: The median home sold price in Sunnyvale was $1,837,666 in May 2024, up 7.2% from last year, and the median price per square foot was $1,215.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $629.4K$656.5K
+4.3%
2 $1.0M$1.1M
+13.3%
3 $1.6M$1.8M
+15.7%
4 $2.4M$2.5M
+4.6%
5+ $2.7M$2.9M
+6.1%

Summary: Sunnyvale housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 6.1%.

Median Sold Price Compared To Nearby Cities

Cupertino
+18.5%
Santa Clara
+10.5%
Mountain View
+8.4%
Sunnyvale
+7.2%
Los Altos
+4.1%

Housing Supply in Sunnyvale, CA

How many homes are available in Sunnyvale, CA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
191223+16.8%

Summary: The Sunnyvale real estate market had 223 homes for sale in May 2024, a 16.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 32
-33.3%
2 4247
+11.9%
3 8695
+10.5%
4 5060
+20.0%
5+ 1019
+90.0%

Summary: The Sunnyvale housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 90%.

Number of Homes Sold

Apr 2024May 2024CHANGE
7993+17.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

80 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sunnyvale, you could pay more than the asking price. 90.9% of homes here sold above asking price last month.

Summary: A total of 93 homes were sold or pending in Sunnyvale in May 2024, up by 17.7% month-over-month. Of the 88 sold homes, 6% were sold under asking, 3% were sold at asking, and 91% were sold over asking.

Days on Market for Sunnyvale, CA

How long does it take to sell a home in Sunnyvale, CA?

Average Sale Time

May 2023May 2024CHANGE
10 Days9 Days-12.8%

Summary: Homes in Sunnyvale had an average of 9 days on market in May 2024, down by 12.8% compared to last year.

Breakdown of Home Sale Times

89 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Sunnyvale are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 93 homes were sold in Sunnyvale; 96% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 16 Days Ago

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