Mountain View’s real estate market is experiencing a red hot summer, keeping up momentum from this spring. Here’s a glance at some of what we’ll see in the single family home market below:
- Market activity is higher than it was a year ago, and inventory is persistently low.
- Days on market average around 2 weeks at a lighting fast 13 days.
- The sales to list price ratio averaged a scorching hot 109.1% of asking.
The Mountain View Real Estate Market
How’s the Mountain View CA real estate market? This is one of the hottest areas within Silicon Valley and is home to a myriad of high tech companies and is a stone’s throw from others. With a charming and walk-able downtown, easy access to CalTrain, and a vibrant atmosphere conducive to both work and play, it is no wonder that people relocating to the San Francisco Bay Area or Silicon Valley place Mountain View squarely in their target. (Also popular are adjacent municipalities: Sunnyvale, Cupertino, Los Altos, and Palo Alto.)
All that popularity comes at a cost, though. Prices have been sky high in Mountain View for years, both for rentals and for home buying. The good news, though, for those with property or those who take the plunge and purchase: it doesn’t look like Mountain View is going to lose its appeal anytime soon.
In this article, which is updated monthly, we will include live Altos Charts which automatically update weekly (so bookmark this page!) as well as monthly insights from the Real Estate Report for Mountain View. From time to time I will be adding “in the trenches” commentary to bolster this information.
Before we dive in, it’s necessary to acknowledge that much has changed since March 2020, so this data is going to show some atypical trends due to current circumstances. This month’s data gives us a view into the pandemic’s current impact on real estate, but not the full picture. For more on this, read my post titled Coronavirus impact on real estate sales.
During the first lockdown order, the Multiple Listing Service (MLS) stopped the timer on all Days on Market (DOM) beginning from March 17th until around May 17th, 2020. In the data below, this will affect any numbers related to the days on market, the absorption rate, and the days of inventory. That means current numbers are accurate while data for those previous months are not.
Overview of the city of Mountain View’s residential real estate market for houses:
See the whole Mountain View Real Estate Report online here.
Single family home (mostly houses, but some duet homes) closed sales grew from the month before and year-over-year. Pending sales fell in the short-term, but are holding stable compared to August 2020. Active inventory remained stable for the third month in a row, but is just over half of last year. The sales to list price ratio dipped to a red hot 109.1% and in an average of only 13 days on market. The market is significantly more active than a year ago, which was just beginning to come up from the bottom of the initial lockdown cooling. Mountain View is in a prolonged seller’s market with pent up demand.
Mountain View is a strong seller’s market with pent up demand and low inventory driving an unusually high level of activity.
|Trends At a Glance||Aug 2021||Previous Month||Year-over-Year|
|Median Price||$2,729,000 (+10.3%)||$2,475,000||$2,400,000 (+13.7%)|
|Average Price||$2,640,200 (+2.6%)||$2,574,390||$2,431,240 (+8.6%)|
|No. of Sales||31 (+10.7%)||28||25 (+24.0%)|
|Pending||34 (-22.7%)||44||34 (0.0%)|
|Active||16 (0.0%)||16||29 (-44.8%)|
|Sale vs. List Price||109.1% (-2.4%)||111.8%||101.3% (+7.7%)|
|Days on Market||13 (+28.7%)||10||22 (-41.7%)|
|Days of Inventory||15 (-9.7%)||17||35 (-55.5%)|
Mountain View CA real estate market trends and data by neighborhood or district
My Real Estate Report, a separate page with more data, drills the numbers by neighborhood in Mountain View (and also Palo Alto and San Jose – the latter being very understandable as it’s almost 1 million people, rather than Mountain View’s 75,000 people). Want to check out these areas? Then visit popehandy.rereport.com, select Santa Clara County, then under city choose Mountain View, and under ZIPS select the area you want to explore further!
Here are some of those direct links by neighborhood for Mountain View (heads up, if there are no sales there will be no data!):
- Downtown Mountain View
- North Bayshore
- North Shoreline
- San Antonio
- Sylvan Dale
Altos Research provides (to us subscribers) all kinds of tools. The chart below is one of them and it’s updated automatically each month (using list prices not sale prices). Check out the Altos Report for ALL of Mountain View at this link, or go there and then navigate to your desired zip code or other area as mentioned above.
This chart updates in real time, about once a week. According to the latest update (September 8th), inventory is low, but stable and days on market are quick, but cooling. Market action is leveling out after recent cooling, but remains in a strong seller’s market for the Mountain View, CA real estate market.
Altos Research Charts: Single Family homes by price quartile
Median List price graphed by quartiles:
Most areas were fairly flat with few price changes through 2020. The mid-tiers started to climb in March 2021 with seasonal warming, and all but the bottom tier continued to increase into summer.
Average days on market for single family homes in Mountain View:
This chart’s lines are all over the place! Right now all areas are selling quickly, following similar trends with most tiers around 20-40 days. The lower-price tier is the farthest outlier with homes taking closer to 55-60 days on average. Remember that data for days on market between mid-March and mid-May of last year (2020) is incorrect due to the MLS’s pause on the DOM timer.
Inventory of single family homes:
Seasonal trends usually show market decline through winter with turnaround in spring, rising through summer. Inventory hit it’s peak around September of 2020 and experienced a gradual decline until late December when winter cooling began in full force. The last few years have had unusually low levels of active inventory. The bottom of winter 2020-2021 inventory was especially low and while it began to grow again around March 2021, it’s lagging way behind last year, although it’s keeping pace with 2019’s extreme lows!
Please continue reading to see the Mountain View CA real estate market trends data for condominiums and townhouses, plus also the live Altos Research charts for both single family homes and also condos and townhomes.
Mountain View Condo & Townhouse Real Estate Market
While not affordable per se, condo and townhome prices are more attainable than single family homes. Closed sales grew month-over-month and are double last year’s sales. Pending sales fell below the month before and remain above last year. Active listings held stable month-over-month, but are persistently low year-over-year. The average time to sell slowed to a 22 day average and the sales to list price ratio cooled to 101.5% of list price. Overall it’s a busy seller’s market for condos and townhomes in Mountain View, though cooler than single family homes.
|Trends At a Glance||Aug 2021||Previous Month||Year-over-Year|
|Median Price||$1,320,000 (-7.7%)||$1,430,000||$1,091,000 (+21.0%)|
|Average Price||$1,272,110 (-3.4%)||$1,317,340||$1,185,180 (+7.3%)|
|No. of Sales||35 (+20.7%)||29||17 (+105.9%)|
|Pending||41 (-12.8%)||47||28 (+46.4%)|
|Active||35 (0.0%)||35||51 (-31.4%)|
|Sale vs. List Price||101.5% (-2.7%)||104.3%||101.3% (+0.2%)|
|Days on Market||22 (+48.5%)||15||18 (+22.1%)|
|Days of Inventory||30 (-17.1%)||36||90 (-66.7%)|
Altos Research data for Mountain View:
The most recent update shows that condos in Mountain View are in a strong seller’s market with shrinking market action. Days on market are low and fairly stable, as is active inventory. Mountain View condos are a competitive market for buyers, but a little calmer than the city’s single family housing market.
Townhouse and condo market in Mountain View: Altos Research Charts
First – a longer view of the housing market in Mountain View:
The mid-to-entry level markets are more affected by changes in the market when it comes to pricing. Usually the luxury homes appear to hardly notice seasonal dips and peaks, but recently they seem to be following them a bit more closely. There was an unseasonable drop early last spring with the start of the shelter-in-place order in spring 2020, but it climbed into summer and around mid-autumn with a predictable price drop in winter. In most tiers, list prices rose between April 2021 until August 2021 when things began to turn around again.
Average days on market:
Again, the days on market for condos, like for houses, appear unruly and unpredictable. They are usually all over the place, and a number of them switched places around April 2021. All sectors are selling between 20 – 50 days with the upper-price tier selling fastest and the lowest-priced tier selling slowest. With such small pools of data, these numbers can change quickly and wildly. Remember that the mid-March to May 2020 data is not useful in this chart.
Listings were on a steady incline since the absolute bottom back in March 2020. Inventory finally peaked around early October 2020 with inventory falling off into the new year, a clear example of seasonal trends. But it never really grew in spring 2021. Inventory dropped below winter levels in late spring and only began to rise again around July 2021.
Mountain View zip codes include 94040, 94041, 94043 (related areas 94035, 94039, 94042 – post office and other non-housing areas)
Are you interested in buying or selling a home in Mountain View? I work with nice folks all over Santa Clara County and would welcome the opportunity to talk with you about possibly working together – no obligation, no pressure. (I truly dislike pushy people, probably as much as you do.)