Both at our office meeting on Tuesday and the Realtors' breakfast this morning, the main topic of discussion was the continuing strong market for home sales in Cupertino and Westside Sunnyvale. Despite the national slowdown, and even the local downturn in many areas, this "Oasis" remains hot.
In an article in this week's Cupertino Courier,titled "For sale" signs aren't up for long in Cupertino despite downturn," Emilie Crofton quotes Mark Burns, Cupertino resident and a successful agent in my office as saying that Cupertino had the highest percentage of pending sales, 42 percent, during the month of February in Santa Clara County, and "Real estate sales are moving at a brisk pace, as they have for the past few months. There are still a number of homes selling for above their asking price. We'll usually see homes come up for sale and sold within two to three weeks while it can take months in other areas."
The reputation and success of Cupertino's elementary, middle and high schools is the main reason why the city has remained untouched by real estate troubles. The quickest sales seem to be in the Lynbrook and Monta Vista high schools' attendance area. In addition to schools, Mark also credits the market in Cupertino to the city's neighborhoods, parks and proximity to freeways for short commute times.
But don't forget...March through May are still the strongest seasons. Inventory grows in the summer, and the market tends to slow down.
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