A reader commented on yesterday's post, asking about homes in the $750,000 to $1 million range in Sunnyvale. Because of the extremely low inventory (see my post dated August 17) this has been a very active market. Open houses are very well attended, and all but overpriced...or underloved...houses are moving quickly, often with multiple offers. I've noticed sold signs sprouting even on busy streets such as Remington, a sure sign of a recovering market. Of course, schools continue to be a factor in desirability and value, and condition and location are always important, but low interest rates are keeping buyers out there, and we're not seeing many short sales or bank owned properties in that price range, especially in Sunnyvale.
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