Sunnyvale Housing Market – Third Quarter 2010 Update
by Alex Wang on Oct 26, 2010 | No Comments »
| Sunnyvale | 3rd Quarter 2010 | 2nd Quarter 2010 | 1st Quarter 2010 | 3rd Quarter 2009 |
|---|---|---|---|---|
| Median Sales Price | $805,000 | $851,000 (-5.4%) | $755,000 (+6.6%) | $777,000 (+3.6%) |
| Average Days on Market | 41 | 43 (-4.7%) | 43 (-4.7%) | 56 (-34.9%) |
| Closed Sales | 169 | 177 (-4.5%) | 96 (+76%) | 186 (-9.1%) |
| Sales Price to List Price Ratio | 99.23% | 100.95% (-1.7%) | 100.33% (-1.1%) | 98.37% (+0.9%) |
| Total Sales Volume | $131,321,631 | $144,291,235 (-9%) | $69,693,461 (+88.4%) | $138,591,653 (-5.3%) |
(single-family home data from MLS listings Inc.)
Sunnyvale has gone through another quarter without any major hiccups, showing improvements from a year ago. The median sales price has been steadily increasing from its recovery in early 2009, and is equivalent to 2006 prices. Average days on market have also dropped to 41 days, down from 77 days in the first quarter of 2009, though it has yet to reach the unusually low 23 days that occurred in the second quarter of 2006.
Lastly, the sales price to listing price ratio is hovering around 100%, meaning sellers are pricing homes at prices buyers expect to pay — neither a strong seller’s market as in 2007, nor a buyer’s market as in 2009.
Categories: Market Updates, Silicon Valley News, Sunnyvale
