Last week I sold a listing where the buyers had originally purchased the home at the height of the market back in 2007.  The price paid for this home was $775K in Spring of 2007, an all time high for that floor plan and a price that would never be matched until now.

When I took the listing I was confident that the home would sell for somewhere between $725K and $750K.  $750 being a bit of stretch but I prefaced it with anything can happen in this market and anything did happen.  After a week of marketing the home we received 14 offers, two of them all cash and ended up accepting an offer at $780K, $5 over what they had paid six years earlier.   A sign to me that the market in Santa Clara has recovered.

In certain neighborhoods that fall under the Cupertino School District the market had recovered months ago, as these areas are experiencing a very high level of demand.  At this current rate I expect prices to continue to rise this year, as inventory is not exceeding the pace of buyers and home sold.