Home selling in the Bay Area is very active and homes on good location and move in ready are selling for a premium.
Los Altos is on fire — any home with a decent lot size is selling above $4M.
In September, at least 50 properties — double the number from the previous month — sold for more than $200,000 above list price. Notably, 25 of those secured $400,000+ over asking through fierce multiple-offer bidding wars. Despite higher interest rates and other market challenges, buyer demand remains strong.
Unbelievably, one West San Jose home sold for nearly $1 million over asking, while 11 other properties attracted 10+ offers within just a week.
The Silicon Valley housing market continues to amaze me, and with the AI boom expected to persist through 2027, prices could rise even further next year if interest rates come down and the stock market remains strong.
Here are some highlights of the bidding wars.
SUNNYVALE
949 Bidwell Avenue, Sunnyvale
Listed at $1,988,000
Sold for $2,300,000 ($302,000 over list price)
3 Offers
735 Winstead Terrace, Sunnyvale
Listed at $999,999
Sold for $1,281,000 ($281,001 over list price)
11 Offers
1190 Morse Avenue, Sunnyvale
Listed at $1,190,880
Sold for $1,551,300 ($360,420 over list price)
788 Mayten Tree Court, Sunnyvale
Listed at $2,288,888
Sold for $2,800,000 ($511,112 over list price)
11 Offers
992 Planetree Place, Sunnyvale
Listed at $2,388,888
Sold for $3,000,888 ($612,000 over list price)
9 Offers
892 W Knickerbocker Drive, Sunnyvale
Listed at $2,789,000
Sold for $3,568,000 ($779,000 over list price)
23 Offers
856 Hydrangea Court, Sunnyvale
Listed at $2,488,000
Sold for $2,800,000 ($312,000 over list price)
9 Offers
1339 Lennox Way, Sunnyvale
Listed at $2,998,000
Sold for $3,230,000 ($232,000 over list price)
985 Reed Avenue, Sunnyvale
Listed at $2,199,000
Sold for $2,400,000 ($201,000 over list price)
1514 Samedra Street, Sunnyvale
Listed at $2,899,000
Sold for $3,650,000 ($751,000 over list price)
12 Offers
1598 Benton Street, Sunnyvale
Listed at $2,488,000
Sold for $2,730,000 ($242,000 over list price)
3 Offers
1454 Kyle Court, Sunnyvale
Listed at $3,648,000
Sold for $3,965,000 ($317,000 over list price)
543 Crawford Drive, Sunnyvale
Listed at $2,099,000
Sold for $2,550,000 ($451,000 over list price)
13 Offers