Cupertino Real Estate Market is Hot

Multiple offers again this past week in Cupertino area indicate how the real estate market in different localities can vary.  In this case, low inventory and high demand because of school scores is the reason.  Here is a sample from Alain Pinel Realtor collegue Mark Wong:

• 10212 Colby Avenue – 10 offers -Listed at $959,888 – Sold for under $1M
• 10198 Colby Avenue – 10 offers – Listed at 1,015,000 – Sold for ?
• 10341 Prune Tree Lane – 9 offers – Listed at $1,049,000 – Sold for about $1,120,000
• 7635 Hollanderry Place – 4 offers – Listed at $899,900 – Sold for about $960,000
• 1194 Miller Avenue – 6 offers – Listed at $930,000 – Sold for about $960,000
• 7348 Kirwin Lane – 10+ offers – Listed at $948,000 – Sold for about $1,080,000

Most of these homes were sold AS-IS within one week with NO Contingencies of any kind. Cupertino has only 83 active listings and 17 pending last week.

Meanwhile, the Mercury News quotes Zillow data to demurely suggests “Santa Clara County Home Values May Be Stabilizing”.

Rick Bonetti | APR Referral Network | 408-857-8800 | DRE #01237009

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