Yes, but only if you separate true value from the asking-price theater and shop with a very clear filter.
Trying to decide whether buying now is reckless or reasonable in Sunnyvale, CA? My answer is yes, it can be reasonable, but only if you walk in expecting competition and stop treating the list price like gospel, because last month a typical single-family sale closed at 111% of asking.
That one number tells you the room is not calm. Over the previous 30 days, a typical single-family home sold in 8 days, with only 27 active listings and 1.1 months of supply, while 30 homes were pending and 31 closed. In plain English, the good homes are not lingering around waiting for a soul-searching weekend and a second latte.
I read Sunnyvale, CA as two different shopping experiences wearing the same city name tag. Single-family homes are brutally competitive at a typical price of $2,675,000, while attached homes had 78 active listings, 28 closed sales, and a typical sale timeline of 10 days at $1,461,200. That does not make condos easy, but it does mean your choices, pace, and leverage may look different depending on property type. Meanwhile, school assignment verification is essential because boundaries can shift value dramatically even a few blocks apart.
I would take two concrete steps right now. First, decide before touring whether your real target is a single-family home or an attached home, because mixing both into one search can wreck your pricing expectations fast. Second, verify school assignment early and write your offer strategy around the real winning price, not the list price, especially in Sunnyvale, CA where overbidding has been unusually intense. Sellers may appreciate this too, because cleaner buyer expectations usually mean cleaner negotiations.
