September 2024
Mountain View, home to Google, is a very desirable community with top schools, convenient access to freeways and CalTrain and a fun downtown area on Castro Street. Click here for more information about Mountain View community and its schools.
Mountain View home values are down slightly but relatively flat with 2021-23. The annual increase in the median price for Mountain View homes has averaged 6.8% per year (CAGR) over the past 25 years and has doubled in value over the past 10 years.
Market demand for Mountain View homes remains strong. Average days on market continues at historically low levels. Final sales prices declined slightly reflecting fewer competing offers. Note that homes selling within the first week or two on market are selling for over this average.
The supply of new listings have returned to 2014-2019 levels after a significant jump in 2020-21. This chart is updated at year-end.
Mountain View homes start at $1M. The above chart shows the distribution single family residences by price range and number of bedrooms.
The above chart shows both the distribution of home sizes and how the $ per SQFT varies. Each dot represents a closed sale.
The quarterly median price is relatively flat since mid-2021 other than a spike in 1Q2022.
The monthly view shows more ups and downs but suggests prices have been relatively stable since early 2021.
The monthly average days on market returned to historic lows in May-June.
The average sales price over/under list price percentage returned to healthy levels. This suggests an increase in the number of competing offers driving the price over list.
Homes selling during the first week or two on market typically sell for well over list, while homes on the market typically sell for under list.
The supply of new listings for homes in Mountain View is significantly lower than previous years. Note the seasonality with December typically being the low-point during the year. The “high-season” for new listings is typically Feb-Apr.
The inventory of Active listings is also lower.
The number of Sales is also lower.
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.