Bay Area Real Estate Trends | How Fast Are Homes Selling in Sunnyvale

Sunnyvale Real Estate Market Summary for Single Family Homes

Bay Area Real Estate market has been staying strong with prices reaching new highs. Demand from buyers has stayed unabated. In most neighborhoods in Sunnyvale, Santa Clara, and Cupertino, there is continued competitive bidding and homes are selling above the list price in most cases. Sunnyvale, in particular is HOT! With the Sunnyvale Town Center development moving forward and the Apple Spaceship Building opening soon, Sunnyvale is seeing record high prices with year over year gains. Homes that sold in 2009 for $715K are now selling for $1.56 million. With  expected policy shifts coming in from the new administration, and the recent interest rate hikes, buyers are scrambling to buy homes in South Bay neighborhoods and cities like Sunnyvale, Saratoga, Cupertino, Santa Clara, etc.

In this blog entry we look at the trend of the average number of days it takes to sell homes for the last 12 months for various zip code areas in the Sunnyvale Real Estate Market.

1. 94087 Zip code Sunnyvale Real Estate 

Sunnyvale Real Estate 94087 Average Days to Sell 12 months till March 2017

During September 2016 the market had cooled off a bit with many houses sitting in the market for longer periods of time, with an average of 31 days. This trend continued into November, December and began improving from January after the interest rate hikes. This shows that buyer interest increased both due to seasonality, and as the chances of further interest rate hikes loomed large, buyers scrambled to lock their interest rates and get into a home at the earliest.

Checkout Single Family Homes for Sale in Sunnyvale 94087

Checkout Townhouses and Condos for Sale in Sunnyvale 94087

2.  94086 Zip code Sunnyvale Real Estate 

Sunnyvale Real Estate 94086 Average Days to Sell 12 months till March 2017

In the 94086 zip code area of Sunnyvale, homes were in brisk demand in February and March 2017, with a similar pattern of buyers scrambling to buy homes after the interest rate hikes plus the seasonal demand resuming. Earlier, in the November 2016 to January 2017 period, homes were taking a bit longer although the number of days to sell were in reasonable number of average days of between 15 and 22.

Checkout Single Family Homes for Sale in Sunnyvale 94086

Checkout Townhouses and Condos for Sale in Sunnyvale 94086

3. 94085 Zip code Sunnyvale Real Estate 

Sunnyvale Real Estate 94085 Average Days to Sell 12 months till March 2017

The 94085 Zip code area is seeing aggressive buying with homes selling on average within 8 days of listing. The same neighborhoods were seeing averages ranging from 37 days in August 2016 to 21 days in January 2017. This trend is expected to continue in these relatively lower priced localities as out priced buyers from other zip codes find homes closer to the 101 and 237 highways and the Moffet Park office zones.

Checkout Single Family Homes for Sale in Sunnyvale 94085

Checkout Townhouses and Condos for Sale in Sunnyvale 94085

4. 94089 Zip code Sunnyvale Real Estate 

Sunnyvale Real Estate 94089 Average Days to Sell 12 months till March 2017

In the 94089 Zip Code Neighborhoods of Sunnyvale, there are significantly fewer residential single family homes compared to other zip code neighborhoods. There are significant numbers of townhouses in this zip code area. Single family homes in this zip code area are selling on average within 8-11 days. However, the above chart is skewed due to two homes in February 2017 and one home in March 2017 staying on the market for several months. 

The median days to sell number for the above zip code area is very high for February at 48 days while for March, the Median Days to Sell is realistically 9 days.

Checkout Single Family Homes for Sale in Sunnyvale 94089

Checkout Townhouses and Condos for Sale in Sunnyvale 94089


Have a question ? 
Send me a message and I will be sure to get back to you at the earliest.

Realtor Ranjana Shreedhar

To Contact me:   Click Here    Or    Call (408)861-8026

Visit www.SunnyvaleCupertinoRealty.com to learn about selling your home and to search for new listings. Save your home searches and be notified of new listings, price changes, and easily communicate your interest in seeing properties, to Realtor Ranjana.

Looking to list your home for sale?  Contact Realtor Ranjana at (408) 861-8026 or click here: www.SunnyvaleCupertinoRealty.com/sell

Looking for market reports for your neighborhood. Contact Realtor Ranjana today for a market evaluation of your home. www.SunnyvaleCupertinoRealty.com/contact 

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Should You Sell Your Home Now - After Early 2016 Market Downturn

Early 2016 Market Downturn - is the worst yet to come?

Early 2016 heralded a sharp downturn in the financial markets resulting in a precipitous fall in stock values. Most, if not all, top performing stocks that were rated "Buy" by analysts, came crashing down like a house of cards erasing investor's values, with each passing day bringing more doom and gloom. Trillions of dollars in total worth of investor money has vanished in a short span of time. News from globally relevant and critical economies like China showing slowing growth plus lopsided debt situation without an accompanying market adjustment in currency values, brought more uncertainty and volatility in stock and commodity markets. Almost all asset classes, especially oil, have seen a rapid erosion of their market valuations. 

How will the stock downturn impact housing market? 

Home Buyers, especially in the Bay Area, save up a part of their money for down payment through their savings bank accounts. Those savings bank deposits have been offering negligible interest rates for over 8 years ever since the Feds brought in the easy money policy with near zero interest rates, to revive the US economy from the iron grip of the recession. The flip side of this policy was that savings resulted in little growth with low interest returns. The only way to get capital growth was to invest in the stock markets or in other asset classes such as Gold, Real Estate especially in early 2010 through 2014. While there are vast numbers of home buyers in the Bay Area, a large number of them have been priced out of the market due to the rapid and almost crazy rise in home prices in sought-after neighborhoods and cities. Home buyers preferred building up their capital growth for down payments, through stock market investments particularly in rapid growth technology stocks. 

With the recent erosion of the stock values, many buyers will now have lower and lower amounts at their disposal to put a down payment for a home in their desired neighborhood. Many may have to hold back and wait for the stock market to regain its growth. Many other buyers tell me that they are beginning to shift their focus away from their desired neighborhoods(s) to others that are less desired but more affordable within their (now-reduced) capacity for down payment. 

Should Homeowners Sell Now? 

Should homeowners sell now with home buyer investments losing value?

The answer is an emphatic yes if you were thinking of selling. If you were/are on the fence as to whether to sell, this is your chance to still cash in on the peak values that the past few years of rapid rise in prices have provided. Remember hot markets don't last forever. Remember also, that a significant portion of the home buying in the past 3-4 years was driven by cash buying from overseas investors particularly from China. With the rapid crash in their stock values, the number of overseas buyers is very likely to drop soon. Local buyers will have lower money at their disposal to make very high priced offers. This is your chance to get the good returns while they last before the housing market slows down too. 

How Can I help? 

I specialize as a Listing Agent helping homeowners sell their homes fast with great returns. I provide homeowners with premier service standards all through the transactions right from prepping your home to sell, pricing your property right so as to attract great offers, marketing your home through a large network of contacts within my office network, social networks and corporate contact networks. I provide you with high quality home repair and staging professionals to get your home in a move-in ready state, and much much more. 

Head out to the following link to see what I have to offer to help you sell your home. 

Click here: http://www.sunnyvalecupertinorealty.com/sell/

All it takes to start is to have a no-obligation meeting to evaluate your home. Do it today!
Realtor Ranjana
(408) 861-8026

Realtor Ranjana Shreedhar

To Contact me:   Click Here    Or    Call (408)861-8026

Visit www.SunnyvaleCupertinoRealty.com to learn about selling your home and to search for new listings. Save your home searches and be notified of new listings, price changes, and easily communicate your interest in seeing properties, to Realtor Ranjana.

Looking to list your home for sale. Contact Realtor Ranjana at (408) 861-8026 or click here: www.SunnyvaleCupertinoRealty.com/sell

Looking for market reports for your neighborhood. Contact Realtor Ranjana today for a market evaluation of your home. www.SunnyvaleCupertinoRealty.com/contact 

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7 Home Seller Tips To Sell Big

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How much is your home worth? Call Realtor Ranjana for a thorough market value analysis. Do not depend on automatic estimates that do not consider your home's specific condition. Call me at (408) 861-8026

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It probably comes as no surprise to most people that the Bay Area housing market has been hot over the last three years, especially for sellers. The limited inventory of homes for sale in many real estate areas such as Sunnyvale, Cupertino, Saratoga, Santa Clara, Mountain View, and more, combined with solid demand from buyers, tilted the market in the seller’s favor. In our local communities, it has been fairly routine to see multiple offers for homes and bids over the asking price.

But even in this kind of a market, sellers can still get the short end of the stick if they aren’t careful. As we enter the fall home buying season, listing your home right now may be a great idea given the healthy demand for properties. But it is important to take certain steps to help make the home selling process go more smoothly and to enable you to get the best results possible.

Tips To Sell Your Home For A Big Price

Pick a highly qualified real estate professional

Pick a highly qualified real estate professional to get the job done. Selling is a big decision with significant financial and emotional components. It can pay to find a professional REALTOR® with experience in your area and a thorough knowledge of the market and selling strategies. As a seasoned REALTOR®, I can help ease the work and stress that goes into selling a home and help you achieve your goals.

Wear the Buyer's Hat

Home Seller Tip: Putting yourself in the buyer's shoes

will help you present your home in its best appearance

We all think our home is great. After all, it’s where we live and have created so many memories. But when you think about how to price and show your home, it’s important to put yourself in the shoes of a potential buyer and be a bit pickier about your home’s appearance. Critically assess how your home compares to other homes in your area and ask yourself what would you be willing to pay for it if you had others to choose from?

Price Your Home For Sale!!

Don’t push your luck on pricing. It’s natural to think that anyone who enters your home during an open house or other broker showings would be willing to pay top dollar. However, pricing a home too high above the current market could turn away buyers and increase the possibility that the home will sit on the market for a longer period of time. Depending upon the market, you may end up having to lower the asking price at a later point in time to be able to sell.

Too low of a price can backfire

Listing your home below market price may draw in more potential buyers and may increase the possibility that you will receive multiple offers. However setting the asking price too much below the current market comes with some risks as well. You might not get as many offers as you think, and the best offer might be lower than you had planned. Buyers might also become skeptical about buying a home that is listed well below the rest of the market.

Keep an eye on nearby homes on Sale

Going to other open houses can give you a better sense of how your home compares to others on the market. Looking at the upgrades in their kitchens, the amenities throughout their home, and the size of their yards can help you gauge where your home fits in the local market spectrum.

Home Seller Tip: Making a good first impression ensures

Buyers will make good offers and the home will sell fast.

Make a good first impression 

Help homebuyers imagine themselves living in your home by taking down family photos and mementos, removing large or clunky furniture, and generally decluttering your home. Consider using a professional stager who can clear out the clutter and find just the right furniture for each room. Don’t forget to clean up the yard, prune back bushes, and plant attractive flowers. Even in a seller’s market, making the right impression can help get a better price.

Pick The Right Offer

The highest offer isn’t always the best offer. It may be tempting to simply accept the highest offer for your home in a multiple offer situation, but sometimes it’s better to go with a lower one depending upon the other terms in the offer. All cash buyers and those with very large down payments who have been pre-approved for the loan balance may be stronger candidates to be able to actually close. Additionally, buyers who take your needs into account in their offer, such as allowing you to retain possession of the property for a short period of time after escrow closes may be providing a better over-all proposal for your needs.

This may be a great time to sell your home, but there are ways of making the most of the opportunity in this market.

If you have been thinking about selling your home, I’m ready to help. Please give me a call at (408) 861-8026 or email me today and we’ll get started!

Realtor Ranjana Shreedhar

To Contact me:   Click Here    Or    Call (408)861-8026

Visit www.SunnyvaleCupertinoRealty.com to learn about selling your home and to search for new listings. Save your home searches and be notified of new listings, price changes, and easily communicate your interest in seeing properties, to Realtor Ranjana.

Looking to list your home for sale. Contact Realtor Ranjana at (408) 861-8026 or click here: www.SunnyvaleCupertinoRealty.com/sell

Looking for market reports for your neighborhood. Contact Realtor Ranjana today for a market evaluation of your home. www.SunnyvaleCupertinoRealty.com/contact 

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Sunnyvale, CA Neighborhood Real Estate Market Update Aug 2015

As summer begins to wind down, Sunnyvale's 94087 neighborhood real estate market continues with its resilient demand and brisk sales. Although Sunnyvale's rise in home prices has resulted in a slight drop in number of offers, Sunnyvale homes are selling with multiple offers within a week to ten days on average. 

The table below shows recent home sales in Sunnyvale CA from May ’15 to early August ’15 in the 94087 neighborhoods. One can notice that the gap between List Price and Sales Price has come down a bit, as list prices have moved up. Sunnyvale real estate is a much sought-after and desired area given its close proximity to employers, all amenities, highways, and arterial roads, and superb schools. 

Recent Active Listings in Sunnyvale, CA have shown a trend to stay a bit longer in the market. This has a direct linkage to the appropriateness of pricing. Pricing your Sunnyvale home right, is key to success in this market. Price it too high and you will have the home sitting longer. Price it too low and you may have offers around that price, leaving money you could have otherwise made.  Among the most important proven skills I have, is pricing homes in Sunnyvale right. All it would take is a call to discuss. Call me today for a free consultation!

Find out how to sell your home quickly, with top dollar offers!

Sunnyvale CA Recent Home Sales Aug 2015

How much is your home in Sunnyvale CA worth? Don't rely on automated online estimates. Get your personalized estimate from Realtor Ranjana before your put your Sunnyvale home on sale. 

Realtor Ranjana Shreedhar
To Contact me:   Click Here    Or    Call (408)861-8026

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Do Home Inspections Help You Sell Your Home?

Are inspections required?

Your home has many memories, sentiments and emotions associated with it, and reflects the hard work you’ve put in to keep it problem-free and livable. 

However, we focus most such upkeep around issues that are visible to the line of sight. 

There is a class of issues that does not present easily unless a thorough home inspection is conducted.  

As you get ready to sell your home, inspections will help you get a thorough report of the condition of your home and the extent of repairs, major or minor, and updates required to help it sell quickly. A well maintained home typically gets minor work recommended in the inspection reports, and can be fixed by the homeowner. There are exceptions though. 

Termite and pest damage can be extensive and expensive. 

Home Inspections : a valuable part of your home sale

Cracks in the foundation can require much work and expense. 

The roof may have reached end of life and may require a full replacement. 

The seller can choose to either do some or all of the repairs before selling the home depending on one’s capacity to carry out these. 

In the case of extensive repairs, the seller might choose to not do so but this may significantly impact the offer price for the home. It is always advisable to carry out the more egregious issues requiring fixing. 

From a buyer’s perspective, a buyer would expect that for the price paid, the home would be move-in ready and not require spending too much on major work after moving in. All buyers are in the same boat with the possible exception of investors or flippers looking for fixer-uppers, who are looking for bargains.  

What are recommended inspections?

A trio of inspections is recommended: Termite, Home, and Roof inspections.

These three inspections together cover your overall home and help you uncover the most important issues. 

I am always available to discuss more details on how to maximize returns for your home with minimal spending. 

I have extensive contacts with industry professionals and can help get all of the inspections done and connect you with repair professionals. Call today! 

 

How much is your home worth? Don't rely on online home estimates. Get your pricing done right!

Realtor Ranjana Shreedhar
To Contact me:   Click Here    Or    Call (408)861-8026

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Top Ten Tips to Sell Your Home Quickly and For Top Dollar

Before you list your valuable home on the market, consider the following low-cost actions to yield tremendous benefits for a quick and effective sale. In my experience, these have made a significant difference in the sale price of the homes I have sold.

1. Sale-ready Décor

Your home has elements, trims, and decorations to your liking and comfort, but bear in mind that prospective buyers may have their own preferences. In order to sell quickly, keep the home décor as neutral as possible. Simply put, remove all effects that reflect you. These include any personal, decorative, and faith related items, and photographs of your family.

2. Flooring 

Depending on their condition, spruce up hardwood floors with a fresh coat of polish; and for carpets, have a thorough deep cleanse done. If the carpets cannot be cleaned or are worn out, replace the carpets to yield an attractive new look for buyers. An updated home that is move-in ready fetches on average between 10-18% more than homes that are sold without being updated.

3. Plumbing 

Get your plumbing checked and fixed for leaks, especially under the kitchen and bathroom sinks. Leaks under the crawl spaces are hard to find and hence important to get checked and fixed. This will save you from a negative comment on the home inspection report.

4. Open Spaces

The buyer needs to experience the space and square footage. Remove any items that add to feeling of clutter, avoid leaving bulky furniture in rooms, and allow for walls and open spaces to be seen. Buyers will not see value for the price if space cannot be experienced.

5. Super Clean Kitchen, Baths Win Buyers  

Keep your bathrooms and kitchen looking as good as new, clutter-free, and refreshed. Ensure bathtubs, sinks, and shower spaces are squeaky clean. Get a closed wastebasket for each bathroom. Ensure countertops are empty, except for a few decorative items that add to a welcoming charm.

6. Closets

If you have overflowing closets, pack them away to leave minimal contents or empty, so that prospective buyers can see the space inside the closets.

7. Curb Appeal

Ensure your driveways and backyard concrete/tiles are cleaned up. In these days of mandatory water conservation, turn the sprinkler on only on permitted days to keep lawns barely green, or replace with low maintenance native leafy and/or flowering plants. Good curb appeal sets the mood for buyers to get into the home and imagine themselves living in the house.

8. Paint 

If needed, a good coat of paint inside and outside, preferably in neutral shades, will provide the extra freshness to pull buyers into the home. This one can get you more return for a smaller cost.

9. What to do during your Open House hours ?

Buyers need to experience your home as homeowners without the presence of the current homeowner. I have had experiences where sellers stay back and this has had a psychological effect that turns off visitors, which may result in less than fantastic offers.

As your Realtor®, I represent you and your home, and will market the best selling points of your home and neighborhood most effectively. Relax and leave the marketing and selling to me.

10. Price your home right 

This is THE most important tip. Price your home right. An overpriced home will tend to sit in the market, while those around it, priced appropriately, sell quickly. Bringing down the price later may or may not get you good offers. As an experienced local Realtor® I am very well versed with the art of pricing a home, given my experience and knowledge of the local area and market trends. I am in touch with the market on a daily basis. I am here to help and guide you to arrive at a list price that will result in market demand for your home.
  

How much is your home worth? Don't rely on online automated estimates. Get your pricing done right!

Realtor Ranjana Shreedhar
To Contact me:   Click Here    Or    Call (408)861-8026

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Sunnyvale 94087 Median Home List Price Trends 2015 vs 2014

Sunnyvale 94087 shows continued listing price rise

Buyers and sellers alike look for real estate pricing trends for the city of their interest especially when the city is hotly in-demand due to facilities, closeness to highways, workplaces and great schools. 

Sunnyvale's 94087 real estate area is such a hotly in-demand locality and median List prices are showing a rapidly growing trend even after two continuous years of price growth. The graphic below shows a side-by-side comparison of pricing for each month in the first quarter of 2015 versus the corresponding months in 2014. One can see that although January 2015 was a tad lower compared to Jan '14, the price trend quickly moved up to beat last year's list price trend for February and March. 

Sunnyvale 94087 Real Estate Median List Price Trend 2014 vs 2015

Note: The above chart is the median LIST price trend and not SALES price trend which will show a much higher median number and a higher trend. 

As always, your comments and questions on real estate are most welcome. Contact me for all your real estate needs be it to price your home to sell or to understand real estate trends in your favorite Bay Area city for investment properties or for buying your home. 

How much is your home worth? Don't rely on automated estimates. Click here to get your pricing done right!

Realtor Ranjana Shreedhar
To Contact me:   Click Here    Or    Call (408)861-8026

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Sunnyvale's Old Orchard Neighborhood Home Sales Trends

For latest neighborhood information tailored to where you live or where you want to buy, please contact me through the Contact Ranjana tab on the right side bottom of the page. Or call me at (408) 861-8026 and I will be happy to work with you on your real estate needs. 

Homes in Sunnyvale, CA's Old Orchard, Cherry Chase and broader 94087 areas have been consistently selling over list price. Recent sales in the area have shown continued great demand from buyers given the low interest environment. Clients often ask me how long demand and sales over list price trends will continue. 

The answer is with the Feds. The January 2014 Federal Open Market Committee meeting minutes showed the Fed’s commitment to tapering easy money policy by $10 billion each month. They also mentioned that the first Fed rate hike might be possible towards middle of 2015 if economy continues to grow. The markets would discount this possibility much earlier. With higher interest rates, a large number of buyers will lower their target price range.
Sustained demand in our neighborhoods is expected to continue as long as interest rates stay low. For Sellers, the big advantage right now is that there are not many homes on the market and hence, could fetch handsome gains.  A Golden Opportunity you don't want to miss! 

And if you are concerned about trading up to buy another home, I specialize in move-up buyers as well to get you your next dream home leveraging my industry contacts.

Now let's take a look at the trends. The graphic below shows you what List Price range attracts the most extra dollars in the Sale Price. The $1 million to $1.2 million range attracted the most over the last 6 months going back from Jan 2014 to Aug 2013. The rest of the ranges show interesting fact that upto $1.6 million range, most homes sell over the list price. Note these are averages and your milage may vary. 

Sunnyvale Old Orchard Neighborhood Price Per Sq Ft by List Price Range (Avg six months)

The Trend below shows the price per square feet in the Old Orchard neighborhood. Over the last couple of years, the price per sq ft average has jumped from around the low $500s to above $700 per sq ft indicating a very hotly in-demand location due to its closeness to all amenities and top Silicon Valley employers such as Google, Facebook, Apple, LinkedIn and many more. 

Sunnyvale Old Orchard Neighborhood Price Per Sq Ft Trend 

Here are the most recent home sales in Sunnyvale's Old Orchard neighborhood. A cursory glance shows you how hot the market it in this neighborhood.

Sunnyvale Old Orchard Neighborhood Recent Home Sales

Realtor Ranjana Shreedhar
To Contact me:   Click Here    Or    Call (408)861-8026

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Sunnyvale 94087 Real Estate Market Trends, Recent Home Sales updated to March 2013

Just a quick note to readers that I have just updated the Sunnyvale 94087 Real Estate Market Trends and Recent Home Sale Blog Entry with statistics, charts and analysis upto end of February 2013.
 
Subscribe to my blog to be notified of updates to market trends, tips, analysis and recent home sales.

Author Ranjana Shreedhar, Realtor:

If you are planning to Sell your house, learn how to make the most for your house in this market and to attract the best offers for your valuable property. Call me for a no-obligation evaluation, and a listing presentation.
 

Contact me through Email or on phone (408)861-8026 or through the handy contact form on this page.

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Sunnyvale 94087 Real Estate Trends : Why Now Is the Time To Sell Your Home

Why Now Is A Unique Time To Sell in Sunnyvale 94087

Last Updated : May 2013

The housing inventory all over Santa Clara County was close to the lowest in the County’s recent history with January 2013 seeing just 852 homes on sale. The county had lowest number of listings in early 2000 with just 692 homes on sale. The inventory situation situation has steadily improved with more homes coming into the market given the rapid surge in demand and home prices.  Sunnyvale’s 94087 zip code area is no exception. This is a hotly sought-after neighborhood and all categories of homes sell well within days as long as these are attractively and appropriately priced. 

Sunnyvale 94087 real estate market area shows a trend favoring Home Sellers

Is This Your Opportunity To Sell?

I present above, the trend lines of two very interesting pieces of data averages: Active Inventory + Pending Sales, and Price Per Sq. Ft. These two datasets represent the supply and demand side, respectively, and reflect the impact of one on another on average.

From 2010 to 2011, the Price Per Sq Ft trend line for Single Family Homes responded only slightly to a bigger change in Active Inventory trend line. This was largely attributable to the state of the local economy, the housing situation with large number of foreclosures, and sluggish growth in the local job market.  

In 2012, the local economic recovery gained steam and led to job growth, business growth, and a rapid revival in housing demand. Low interest rates brought hordes of buyers back into the market. Foreclosure inventories dwindled down to a trickle.  

For the first time in 3 years, the price per sq ft trend reacted sharply to the lack of supply, and huge pent up demand from buyers in 2012.  Refer to the chart from Jan 2012 to Dec 2012. Sunnyvale’s 94087 areas saw a rapid climb in per sq ft price (red line) on average as inventory took a nosedive indicating a return of the price elasticity of demand with stronger correlations.  As year 2013 moved on to May '13, we see the trend continuing to around $707 per sq ft compared to $691 in Dec '12 and $624 in Jan '13. The  May '13 Price per Sq ft number is same as April while there is higher inventory now with 64 active/pending listings in May 2013, compared to just around 25 active/pending listings in Dec 2012.  The demand for homes on sale is relatively higher in the part of Sunnyvale 94087 area where the schools are part of the Cupertino Schools.  Nearby areas where top Sunnyvale schools such as Cherry Chase and Cumberland schools are located also saw rapid relative Per Sq Ft Price increases from their prior levels. 

This is a time when homeowners who have hitherto been waiting for the right time should recognize the potential for gains in a market seeing short supply of homes and high demand.  

What could dampen this trend?

The current situation appears to have over heated the market and may possibly not stay for long as rapid & steep price rises are never long lasting.  All it requires is a catalyst such as a tapering of the Quantitative Easing Policy of the Federal Reserve, leading to rapid rise in interest rates (which have been creeping up a lot these days), thereby pricing out some of the marginal competitive buyers from the market leading to a fall in the crazy demand and eventually some softening of the prices if not a fall.

Homeowners waiting to sell thus far will put their homes on sale in coming months, given the high per sq. ft. prices, thus leading to better supply and more choices for buyers. As supply meets demand, or as interest rates move up, we can expect to see prices getting back to an equilibrium level. 

If you are thinking of selling your Sunnyvale home, 

NOW is that great opportunity!

Please give Realtor Ranjana a call at 

(408) 861-8026 

for a free home market evaluation.

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