Mary Pope-Handy's Market Report
Cupertino, CA
Condos/Townhomes
Christie's International Real Estate Sereno | 408 204-7673 | ValleyOfHeartsDelight.com/blog
Cupertino, CA
Tue Apr 23 2024
This week the median list price for Cupertino, CA is $1,199,943 with the market action index hovering around 56. This is an increase over last month's market action index of 51. Inventory has increased to 16.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market conditions have recently resumed tightening. As the rate of home sales increases relative to the number of homes on the market, the Market Action Index increases. Even though the MAI is technically in the Seller’s zone, prices have not yet started climbing along with the changes in Market Action, but expect them to do so if the trend continues.
Real-Time Market Profile
| Median List Price | $1,199,943 | |
| Median Price of New Listings | $1,248,000 | |
| Per Square Foot | $1,084 | |
| Average Days on Market | 25 | |
| Median Days on Market | 14 | |
| Price Decreased | 0% | |
| Price Increased | 19% | |
| Relisted | 6% | |
| Inventory | 16 | |
| Median Rent | ||
| Market Action | 56 | |
| Strong Seller's Market | ||
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $2,202,500 | 1,789 | 0 - 4,500 sqft | 3 | 3.3 | 0 | 2 | 1 | 14 |
| $1,238,000 | 1,039 | 0 - 4,500 sqft | 2 | 2 | 51 | 3 | 4 | 0 |
| $1,174,500 | 1,185 | 0 - 4,500 sqft | 2 | 2 | 45 | 0 | 0 | 28 |
| $1,043,400 | 1,147 | 0 - 4,500 sqft | 1 | 1.5 | 38 | 2 | 1 | 3 |