Single Family Market
We can officially say that market condition in Cupertino is HOT! Yes, that's a technical term.
:-)
The only place that is hotter is Palo Alto. Market conditions in Cupertino and a few other areas are drastically different than other areas in Silicon Valley. It's almost as if saying, market correction: where? If you've been reading this blog, this news should come as no surprise to you. Let's just look at what has been happening since January of this year. In a majority of areas in the Valley, sellers are worried because inventory is increasing and buyers are more selective and taking their time to make choices: a new experience for many (see Santa Clara County and Campbell). Not here, however. You still have to move quickly and pay over asking if you want to move into this city. There is simply no inventory to speak of! The market condition is worse for buyers now then it was a year earlier, with respect to competition and price!
Continued......
Steve Mun, Silicon Valley Realtor
www.stevemun.com
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