Updated January 2021
The 2020 annual median price declined slightly from 2019 and is 5% below the 2018 peak, yet is significantly higher than 2017 . Prices have more than doubled over the past 10 years. The annual median price for Mountain View condos has averaged 7.5% per year since 1998 (CAGR).
Market demand for Mountain View condos remains strong. The average Days on Market (red line) is slightly higher than previous years, but is still at historically low levels. The average annual Sales vs. List Price (blue line) declined to near parity with list. However, listings selling within the first two weeks on market sell for up to 10% over list.
The supply of New Listings (blue line) is fairly consistent with recent years. The number of Sales (red line) dropped significantly, especially compared to other cities.
Mountain View Condos start at $600K. The chart above shows the distribution of prices by number of bedrooms for Condos sold in 2020. 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. Click on link to view additional information on the Mountain View Community and Schools.
The average $/SQFT was $931/SQFT during 2020. The scatter chart above shows how the actual $/SQFT varies by size.
The second quarter Quarterly Median Price shows a return to pre-Covid values. Mountain View Condos prices leveled-off starting in 2018 after six years of strong appreciation.
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 average Monthly Days on Market is noticeable longer than recent years. The spikes are typically in Dec-Jan during the slowest time of the year.
The monthly Sales vs. List Price percentage has declined significantly in mid-2018. The monthly average is now around 5% compared to 15-20% in the first half of 2018. This reflects fewer competing offers driving up the final sales price.
Final sales price vs. List price varies significantly by number of days on market. Homes selling during the first two weeks on market typically sell for over list, while homes on the market typically sell for under list. Buyers should plan on paying 5-10% over list in order to compete for the more desirable listings. Note: this is using the current list price, which may be after a price reduction.
The 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 Inventory of Active listings jumped dramatically in June and are now at the highest levels since 2012.
The number of Sales is on the decline from prior years.
Source: 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.