Cupertino housing prices have seen a decrease of -14.2% over the last thirty days compared to the previous six months. The average house price over the last month is $2,094,392. Below you’ll find numerous charts and graphs breaking down real estate market trends in Cupertino.
Sunnyvale housing prices have seen a decrease of -7.7% over the last thirty days compared to the previous six months. The average house price over the last month is $1,847,790. Below you’ll find numerous charts and graphs breaking down real estate market trends in Sunnyvale.
Updated 4h ago · Upvoted by Sam Dogen, MBA Finance & Real Estate, University of California, Berkeley (2006)
Not sure about all of Bay area.
Had been looking for homes around Fremont and Milpitas. I can say for sure that prices for many homes are being revised downwards considerably in the range of 5–10%. Just do a quick search on open houses in Zillow and see the price change to confirm what i say.
I did speak with few realtors and they do confirm that bidding wars are gone and market has considerably cooled down.
I speculate on two possible reasons.
Raising interest rates - has increased the monthly payments and hence decreased affordability in general
Visa issues - At least the Milpitas and Fremont have lots of Immigrants / asians. The recent developments around immigration laws might have reduced potential buyers.
Will the bidding wars be back again? Definitely does not look like it going by foot falls i saw during my visits last few weeks.
It can’t go up forever. People don’t make infinite money. At some point it’s the last straw to break the camel’s back. It could be a combination of rates, taxes, prices all mixed together.
