Single Family Market
Market conditions in Cupertino is drastically different than other cities in the area. Nowhere is this more evident than in the performance in the past three months. While everywhere else, inventory is outpacing sales on any given month (see Campbell and Santa Clara County), this city is actually seeing a reverse: decrease in inventory and increase in sales! In both February and March of 07, sales activity outpaced the listing activity. In the past two months, there was actually a shortage of housing (see story). The inventory from the summer months should be absorbed very soon.
Given it’s higher price-point, the whole sub-prime market hysteria had practically no impact in this city.
Steve Mun, Silicon Valley Realtor
www.stevemun.com
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