I saw many recently sold houses in Sunnyvale already more expensive than Palo Alto.
Sunnyvale
https://www.redfin.com/CA/Sunnyvale/775-Steuben-Dr-94087/home/1138087 3.85M
https://www.redfin.com/CA/Sunnyvale/948-Olympus-Ct-94087/home/1776079 3.75M
https://www.redfin.com/CA/Sunnyvale/1503-Harrison-Ct-94087/home/768290 3.5M
vs Palo Alto
https://www.redfin.com/CA/Palo-Alto/3462-Bryant-St-94306/home/600187 3.65M
https://www.redfin.com/CA/Palo-Alto/420-Fernando-Ave-94306/home/1208864 3.6M
https://www.redfin.com/CA/Palo-Alto/1260-University-Ave-94301/home/1573688 3.35M
What are the driven factors here? A couple of reasons that I can think of.
1/ Apple increased their comp.
2/ Many tech directors are Indians and since Indian families prefer to stay in Sunnyvale, it raises prices. Anecdotal evidence from many open houses that I went to. Significantly more Indians showed up in Sunnyvale open houses than Palo Alto.
3/ Buyers believe that Sunnyvale has better or soon to be better schools than Palo Alto.
4/ Gold/hidden gems will be discovered in every inch of Sunnyvale land.
5/ Other reasons. Please share.
#housing #bayarea #sunnyvale #paloalto
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comments
https://www.redfin.com/CA/Palo-Alto/70-Waverley-Oaks-94301/home/591488?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet
If you look at the price/sqft, these 1000sqft are premium price compared to other cities in the Bay Area.
My response: ππππ€ͺπ€ͺπ€ͺ
My realtor has told me multiple times that Indians are majority buyers in sunnyvale especially where schools are Cupertino school district. Itβs a very Indian thing to want to be in schools that all other Indians consider the best.