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Dalmatian Realty of Silicon Valley

BIRDLAND MARKET

May 2, 2016

BACKGROUND:The equilibrium level of the Sunnyvale Single Family Home Market is 100 to 120 active listings. Over the last twenty five years I have seen this figure fluctuate from a low of 25 to a high of 240. The low end describes a market in which homes sell in a matter of days, multiple offers, prices in excess of list price and homes sell in any condition. At the higher end....time required to sell a home rises to months, price declines are common, homes in poor condition will be more difficult to sell.

 

Presently there are 38 single family homes for sale in Sunnyvale. Price range from a low of $749,000 to $2,380,000. Only seven homes are listed under $1.000,000.

 

Outlook: Market remains in the hands of sellers. Prices are firm and homes sell quickly. Interest rates continue at low levels with no substantial increase in sight. Apple Campus is slated to open early in 2017 with 13,000 new employees to populate.

While the market looks strong for the present one must remember that real estate is cyclical. It has been my observation over the last fifty years in Silicon Valley that the market is generally on a ten year cycle coinciding with the technological twist and turns in the Hi-Tek industry The current low inventory and multiple offer cycle began in the early months of 2012. That makes this seller market already four years old. Once this Apple Campus business is settled the market will be looking for.....    WHAT'S NEXT??  Another important factor is the coming supply of condos, cluster homes, single family homes on small lots and apartment buildings. All being built as I write this comment. I researched the Sunnyvale Planning Department and was amazed as to the number of permits issued and the size of projects in the works.

 
 
 BIRDLAND ACTIVE
Address Bed Bath Sq Ft Lot Price $/Sq Ft DOM
Hampton 3 2.5 1717 7368 1,649.000 223
20
 
                                             
 
Birdland Sales Pending
Address Bed Bath Sq Ft Lot Price $/Sq Ft DOM
1549 Oriole 3 2 1528 6077 1,499,000 981
19
 
1346 Spoonbill 4 2 1794 5929 1,498,000 835 9
1126 Kensington 3 2 1619 7828 1,378,000 851 8
794 Blue Sage 3 2 1532 6826 1,299,000 847 11
1698 Nightingale 3 2 1266 6300 1,249,000 986 32
950 Marion 3 1 1253 9424 1,098,000 876 5
 
 Birdland Sales Since Jan. 1, 2016
Address Bed Bath Sq. Ft. Lot Price $/Sq. Ft. DOM
1578 Partridge 3 2 1524 9864 1,720,000 1128 10
414 Flora Vista 4 2.5 2049 5345 1,700,000 829 26
962 Durlane 4 2 1421 6891 1,600,000 1125 8
931 Homestead 3 2 1544 7650 1,552,000 1005 13
1424 Norman 3 2 2376 9583 1,525,000 641 108
1341 Spoonbill 4 2 1794 5928 1,510000 907 23
1541 Nuthatch 4 2 1664 6000 1,495,000 898 24
915 Eleanor 3 2 1650 7656 1,475,000 893 51
958 Eaton 3 2 1648 7518 1,450,000 879 8
1441 Norman 3 1 1219 9300 1,410,000 1153 3
1676 Wolfe 3 2 1121 6159 1,070,000 954 18
 
 

Contact Information:


408-482-3438
 

 


 




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