I wanted to share some insights about why Cupertino is such a hot spot right now. It's not just the tech scene—though having Apple HQ nearby definitely adds to the buzz. The schools here are top-notch, which is a big draw for families. Plus, the community vibe is fantastic, with plenty of parks and local events that make it feel like home.
We're constantly tracking the housing market trends, and Cupertino is consistently showing strong demand. Here's a little info about this market.
- Average Days on Market (DOM): The average DOM for active listings is 73 days, indicating a moderate pace in the market. Homes are selling faster in certain segments, such as the $2M-$5M range with an average of 76 days.
- Pending Ratio: The overall pending ratio is 33%, suggesting a balanced market. However, some segments, like the $2M-$5M range, show a higher pending ratio of 44%, indicating stronger buyer interest.
- 0-$2M Segment: This segment is quite active, with a pending ratio of 32%. The average DOM is 64 days, showing good movement. Sellers are achieving about 102.2% of the original list price on average.
- $2M-$5M Segment: This is a strong segment with a pending ratio of 44% and homes selling at about 105.4% of the original list price. The inventory is relatively low, with about 1.2 months of supply, pointing to a competitive market.
- $5M+ Segment: This luxury segment shows a slower market with a pending ratio of 12% and an average DOM of 122 days. Homes are selling close to the original list price, with a sale-to-original list price ratio of 98.5%.
- Overall Inventory: The market has about 1.7 months of supply, indicating a seller's market. However, the luxury segment ($5M+) has a higher supply of around 4 months, which may give buyers more negotiating power.
- Active vs. Pending Listings: There are significantly more active listings (2679) compared to pending ones (878), which could indicate a slight cooling trend or seasonal variation.
- Sellers: If you're in the $2M-$5M range, it's a great time to sell due to high demand and competitive pricing. For those in the luxury segment, be prepared for longer listing times and consider strategic pricing to attract buyers.
- Buyers: The $2M-$5M range is competitive, so be ready to act quickly and potentially offer above the asking price. Data is telling us that you still have a small window to buy before the market gets even hotter as we start 2025. In the luxury market, you may have more room for negotiation given the higher inventory levels.
Overall, Cupertino's market is showing healthy activity, especially in the mid-range price segments. If you have any questions, want to chat more about what makes Cupertino special, or you'd like to dive deeper into your real estate goals, just let me know! I'm here to help.
