Cupertino, CA home prices and housing market

The Cupertino story this month is one of a market holding firm while momentum eases. The typical home value sits at about three million sixty-four thousand dollars, up roughly 2.7 percent over the past year. That is real appreciation, but it is a modest pace for a place used to sharper moves, and the rest of the data explains why. There are only about 57 homes for sale, with just 26 new listings coming on. Supply is thin, which normally props up prices and speeds up sales. Yet homes are taking a median of 48 days to sell, and nearly 19 percent of listings have already cut their price. That tells you buyers are careful, and sellers who reach on price are sitting, then trimming. The median list price of about two million five hundred fifty-three thousand dollars reflects what is actually coming to market. If you are thinking about selling here, low inventory works in your favor, but price it to the current mood, not last year's, or you will wait and cut.