Month-over-Month Changes

The Sunnyvale real estate market saw some changes in July 2023 compared to June 2023. Here’s a summary:

  • Homes Sold: 44 homes were sold, a 25% decrease from 59 sales the previous month.
  • Median Sale Price: There was a 3% decrease, from $2,350,000 in June to $2,278,500 in July.
  • Days on Market (DOM): The DOM rose to 9 from 8 in June.
  • Percentage of List Price Received: Sellers received 107% of their asking price, a decrease from 109% in June.

These changes may indicate a slight slowing in the market, with fewer sales and a decrease in prices.

Year-over-Year Comparison

Comparing July 2023 to July 2022, the following year-over-year changes were noted:

  • Homes Sold: No change, remaining at 44.
  • Homes Listed: Increased by 5%, from 37 to 39.
  • Median Sale Price: No change, remaining at $2.28M.
  • Average Dollar per Square Foot: Decreased by 1%, from $1367 to $1359.
  • Median Days on Market: Decreased by 31%, from 13 to 9.
  • Months of Inventory: Decreased by 62%, from 0.8 to 0.3.

These statistics reflect a market with similar sales but fewer listings, with the same prices and quicker selling times compared to the previous year.

Price Points and Quadrants

The July 2023 sales details were broken down by quadrants:

  • Top Quadrant: 11 homes sold, Median Sale Price: $2,880,000, Median DOM: 7, Avg. $/Sq.Ft.: $1,290.
  • Second Quadrant: 11 homes sold, Median Sale Price: $2,560,000, Median DOM: 11, Avg. $/Sq.Ft.: $1,338.
  • Third Quadrant: 11 homes sold, Median Sale Price: $2,200,000, Median DOM: 10, Avg. $/Sq.Ft.: $1,346.
  • Bottom Quadrant: 11 homes sold, Median Sale Price: $1,550,000, Median DOM: 9, Avg. $/Sq.Ft.: $1,263.

These details provide insights into the segments of the market that are most active, with an even distribution across the quadrants.

Conclusion

The Sunnyvale market in July 2023 showed a decrease in sales and prices compared to the previous month but remained stable compared to the previous year. The breakdown by quadrants offers valuable insights for buyers and sellers, highlighting the competitive nature of the market.

Data provided by MLSListings and is deemed reliable but not guaranteed.