May 2023
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.
The median price for Mountain View homes is consistent with 2022 which was a 10% increase over 2021. The annual increase in the median price for Mountain View homes has averaged 7.2% per year since 1998 (CAGR).
Market demand for Mountain View homes remains strong. Average days on market continues at historically low levels. Final sales prices have declined to near at-list levels 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. This chart is updated at year-end.
Mountain View homes start at $1.5M. The above chart shows the distribution single family residences by price range and number of bedrooms.
The $/SQFT for Mountain View homes varies widely. The above chart shows both the distribution of home sizes and how the $ per SQFT varies. Each dot represents one closed sale during 2021.
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 is slightly higher than previous years.
The monthly average sales price over/under list price percentage is significantly lower than prior years. This suggests a decline in the number of competing offers driving the price over list.
Final sales price vs. list price varies significantly. Homes selling during the first week or two on market typically sell for over list, while homes on the market typically sell for under list. The 2H2022 results are noticeably lower than the first half of the year.
The monthly supply of new listings for homes in Mountain View is 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.