Sunnyvale home shatters record with enormous price tag

The Mercury News | 1/1/2000 | Marisa Kendall
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SUNNYVALE - Home - Cherry - Chase - Neighborhood

SUNNYVALE — The small, unassuming home in the Cherry Chase neighborhood was on the market just two days before it sold for $2 million, a whopping $550,000 over its asking price.

In this red-hot real estate market, the price tag barely caused a stir. What did was the other number that turned the home into another Bay Area record-breaker: It sold for the highest square-foot price recorded in Sunnyvale — a stunning $2,358, according to MLSListings, which tracks homes sales going back to 2000.

Price - Tag - Sunnyvale - Cities - Cupertino

The jaw-dropping price tag suggests Sunnyvale, which has traditionally been less expensive than neighboring cities Cupertino or Palo Alto, is becoming a real estate destination in itself.

“I was blown away by it,” Doug Larson of Coldwell Banker, the real estate agent who sold the home, said of the price it fetched.

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There’s nothing particularly breathtaking about the modest, one-story house on quiet, tree-lined Plymouth Drive. But it sits nestled at the center of one of the country’s most expensive real estate markets. As prices continue to increase throughout the Bay Area, pushing out even some highly paid tech workers, experts say more residents are flocking to relatively affordable Sunnyvale, driving up prices there.

Market - Jim - Harrison - President - CEO

“It’s become the new hot market,” said Jim Harrison, president and CEO of MLSListings.

Homes in Sunnyvale sold for a median price of $1.57 million in January, according to Zillow. That’s affordable compared to neighboring Cupertino, with a median sale price of $2.2 million, or Palo Alto, with a median price of $3 million.

Way - Year - Homes

But it may not stay that way for long. So far this year, homes in...
(Excerpt) Read more at: The Mercury News
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