Mountain View Community - downtown

July 2022

Mountain View Condos and Townhomes are in very high demand due proximity to Google and its vibrant downtown area on Castro Street. Note that the information below is the total of both Condos and Townhomes. Click on link to view additional information on the Mountain View Community and Schools.

Median price for Mountain View condos and townhomes rose 5.5% during the first half of 2022 over 2021, however prices have been relatively flat over the past 5 years. Prices and demand were very in March-April and has slowed down in May-June. Checkout the monthly charts below to zoom in on June. The annual median price for Mountain View condos has averaged 7.4% per year since 1998 (CAGR).

Market demand for Mountain View condos is remains strong. Days on market continue at historic lows and final sales price is near historic highs. The final sales price percentage did drop significantly in June (see charts below). The average Days on Market (red line) declined significantly and the average annual Sales vs. List Price (blue line) increased.

The supply of New Listings (blue line) jumped in 2021, but is still near historic lows. 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 2021.

The $/SQFT varies significantly. The scatter chart above shows how the actual $/SQFT varies by size.

The quarterly median price shows the prices have stabilized over the past five years.

The Monthly Median Prices for Mountain View Condos have been on the decline most of 2022.Still consistent with 2018+, however the question is whether the downward trend will continue.

The average Monthly Days on Market is still relatively low, suggesting that market demand is still strong. The spikes are typically in Dec-Jan during the slowest time of the year.

Final Sales vs. List Price percentage jumped in March-May reflecting strong market demand. This indicator of demand did drop significantly in June suggesting a reduction in multiple offers.. 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.

The Supply of New Listings for condos in Mountain View is significantly higher in 2021. Note the seasonality with December typically being the low-point during the year.

The Inventory of Active listings is increasing, but still consistent with prior years

The number of Sales is consistent with 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.