The current Sunnyvale real estate market has changed from last year to this year. We are starting to once again see a change in the number of homes on the market, and the number of homes sold. More homes are listed and fewer are selling once again. The change is over 25%. The prices have changed this year too. The homes are actually selling for more. The median price of a Sunnyvale home is now $840,000, and the time it took to sell this year was faster than last, according to Grace Keng, local Sunnyvale Realtor..
This news may seem confusing for anyone wanting to buy or sell right now. In a sense, it seems to be a buyers market due to more inventories. Yet it also seems to be a sellers market due to higher prices. I think we may start seeing more changes once the elections are over and interest rates are rumored to climb again. Interest rate increases often mean a dip in home prices.