Mountain View Condos and Townhomes are in very high demand due proximity to Google and its fantastic downtown area on Castro. Note that the information below includes both Condos and Townhomes.
The chart above shows the distribution prices for Condo-Townhomes in Mountain View during 2017. Prices start at $500k and go up to $1.5M.
The Annual Median Price increased 9.1% in 2017. The Annual Median Price for Mountain View condos has averaged 7.8% per year since 1998 (CAGR).
The scatter chart above shows the distribution of both Condo/TH sizes (SQFT) and $ per SQFT for Mountain View condos. The blue dots represent a Closed Sale in 2017. Note how $/SQFT varies by condos size and the distribution of condos sizes.
Market demand for Mountain View Condos remains at an all-time high. The Average Days on Market are at all-time lows. The average annual Sales vs. List Price remain at historic highs.
The scatter chart above shows the distribution of Sales vs. List Price by time on market. The blue dots represent a Closed Sales in 2017. Note that condos that sell after one weekend on the market typically sell for over the annual average of 9.7%.
The annual supply of New Listings has been relatively constant since 2012. The current levels of around 350 listings per year is nearly half of what they were in 2002-2005.
The Quarterly Median Price has been rising steadily since 2012. A view of the quarterly median price provides some insight to how the current market is moving.
The Monthly Median Prices for Mountain View Condos provides more insight into the ebb and flow of the market. Keep in mind that the fluctuation may be due to a change in the mix of condos selling in a particular month, not necessarily changes in home values.
The Inventory of Active listings was significantly lower in 2017. There were typically 14 to 17 listings at any point in time. These low levels reflect the very short days on market.
The Monthly Supply of New Listings for condos in Mountain View has been fairly consistent since 2012. Note the seasonality with December typically being the low-point during the year.
The average Monthly Days on Market chart above shows pretty consistent Buyer demand. The spikes are typically in Dec-Jan during the slowest time of the year.
The monthly Sales vs. List Price percentage provides a little more insight into how the current real estate market is moving.
Interestingly the monthly number of Closed Sales appears to be relatively consistent.
Sources: The data above is obtained directly from MLSlistings, the multiple listing service (MLS) serving Santa Clara and San Mateo counties. The information is deemed to be accurate, however is not guaranteed.