Cupertino and Sunnyvale Current Market Trends

March 23rd, 2013 by Ilya D. Leave a reply »

This chart demonstrates “sell/ask” ratio trend for single family detached homes in Sunnyvale and Cupertino.

The sell/ask ratio is calculated by dividing the price of a sold home by its listing price immediately before the sale and multiplying the result by 100 to get the percentage. The average sell/ask ratio is derived by dividing the sum total of all selling prices in a month by the sum total of all listing prices in that month.

An average sell/ask ratio of 100% indicates that overall listings sell for the asking price. When the ratio is above 100% it often means that demand exceeds supply in a market, that there are multiple buyers submitting offers for most properties, and that buyers are paying on average more than listing prices.

As the chart above demonstrates, in Cupertino and Sunnyvale homes are bought for above asking (listing) prices since last spring (March 2012) after at least two years of buying homes at asking prices. Last month in Sunnyvale the sell/ask ratio had exceeded 110%!

 



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