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Mountain View CA real estate market trends and statistics on Mary Pope-Handy's Valley of Heart's Delight blogMountain View’s real estate market remained strong through December. Here’s a glance at some of what we’ll see in the single family home market below:

  • Sales, inventory, and pricing were all well above 2019 numbers for that month.
  • Days on market remain low and steady close to 20 days on average.
  • The sales to list price ratio is holding strong at 102.3% of asking, although it has fallen from last year.

The Mountain View Real Estate Market

How’s the Mountain View CA real estate market? This is one of the very 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 the beginning of March, so this data is not going to be as relevant as it would in a normal spring market. This month’s data gives us a view into the pandemic’s affect on real estate, but not the full picture. For more on this, read my post titled Coronavirus impact on real estate sales.

During the shutdown so far, the Multiple Listing Service (MLS) stopped the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th. 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 homes (mostly houses, but some duet homes) sales rose sharply in December while inventory shrank from the month before. The market is looking significantly more active than last year, although the sales vs list price and days on market show it may be slightly less competitive. The high number of sales in December goes against normal seasonal trends, but beyond that the market is looking relatively stable. Active inventory is almost double what it was in 2019, remaining high from this autumn.

Mountain View is a strong seller’s market with double the inventory and significantly higher activity than this time last year.

Trends At a Glance Dec 2020 Previous Month Year-over-Year
Median Price $2,295,000 (+2.8%) $2,232,500 $1,900,000 (+20.8%)
Average Price $2,339,830 (+2.4%) $2,286,080 $1,828,320 (+28.0%)
No. of Sales 36 (+38.5%) 26 11 (+227.3%)
Pending 28 (-28.2%) 39 10 (+180.0%)
Active 17 (-50.0%) 34 (+112.5%)
Sale vs. List Price 102.3% (-0.2%) 102.4% 104.7% (-2.3%)
Days on Market 22 (+1.1%) 21 21 (+2.0%)
Days of Inventory 14 (-62.6%) 38 22 (-35.1%)

and the month before:

Trends At a Glance Nov 2020 Previous Month Year-over-Year
Median Price $2,200,000 (+4.3%) $2,110,000 $2,230,000 (-1.3%)
Average Price $2,281,520 (-0.6%) $2,295,060 $2,306,030 (-1.1%)
No. of Sales 25 (0.0%) 25 18 (+38.9%)
Pending 42 (+31.3%) 32 14 (+200.0%)
Active 30 (-26.8%) 41 15 (+100.0%)
Sale vs. List Price 102.5% (-0.3%) 102.8% 99.7% (+2.8%)
Days on Market 22 (+26.8%) 17 31 (-29.2%)
Days of Inventory 35 (-29.3%) 49 24 (+44.0%)

 

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!):

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.

Mountain View, CA Altos Real-Time Market Profile

This chart updates in real time, about once a week. According to the latest update (January 6th), inventory is slipping and days on market are slowing down. Market action continues to climb and 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 have been fairly flat with few price changes, though we’ve seen some slipping.

Real Estate Market Chart by Altos Research www.altosresearch.com

Average days on market for single family homes in Mountain View:

This chart’s lines are all over the place! Right now, the upper price tier properties are selling fastest at around a month and a half. Mid-priced homes (second lowest tier) are taking the longest to sell, hanging around 115 days on average. The entry-level and upper tiers are fastest, taking around 50 days to sell. Luxury homes sit between the two at around 70 days on market. Remember that data for days on market between mid-March and mid-May is incorrect due to the MLS’s pause on the DOM timer.

Real Estate Market Chart by Altos Research www.altosresearch.com

Inventory of single family homes (showing in quartiles but these will always have the same pattern per quartile):

Inventory finally hit it’s peak around September and we’re seeing a shallow decline. Seasonal trends usually decline through winter with turnaround in spring, rising through summer.

Real Estate Market Chart by Altos Research www.altosresearch.com

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. Condo prices fell in December, sales remained fairly stable, and the number of sales and active inventory fell from the month before in line with seasonal trends while remaining well above last year. Days on market slowed to a 41 day average and the sales to list price ratio dipped to 99.9% of list price. Overall it remains a busy seller’s market for condos and townhomes in Mountain View despite winter cooling.

Trends At a Glance Dec 2020 Previous Month Year-over-Year
Median Price $1,198,500 (-15.4%) $1,416,880 $1,287,000 (-6.9%)
Average Price $1,140,570 (-15.2%) $1,344,690 $1,238,010 (-7.9%)
No. of Sales 22 (+10.0%) 20 23 (-4.3%)
Pending 21 (-19.2%) 26 14 (+50.0%)
Active 34 (-27.7%) 47 11 (+209.1%)
Sale vs. List Price 99.9% (-0.2%) 100.1% 102.2% (-2.3%)
Days on Market 41 (+69.9%) 24 77 (-46.7%)
Days of Inventory 46 (-32.0%) 68 14 (+223.1%)

and the month before:

Trends At a Glance Nov 2020 Previous Month Year-over-Year
Median Price $1,416,880 (+9.0%) $1,300,000 $1,320,000 (+7.3%)
Average Price $1,346,040 (+8.2%) $1,243,780 $1,252,430 (+7.5%)
No. of Sales 18 (-33.3%) 27 23 (-21.7%)
Pending 30 (0.0%) 30 24 (+25.0%)
Active 44 (-24.1%) 58 30 (+46.7%)
Sale vs. List Price 100.4% (-1.0%) 101.5% 101.0% (-0.5%)
Days on Market 18 (-53.3%) 39 52 (-65.3%)
Days of Inventory 71 (+10.0%) 64 38 (+87.4%)

 

Altos Research data for Mountain View:

Condos of Mountain View, CA Altos Real-Time Market Profile

The most recent update shows that condos in Mountain View are in a strong seller’s market, with market activity heating up despite signs of cooling elsewhere in the chart. Days on market are growing and inventory has taken a dip. Mountain View condos are a competitive market for buyers, but 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 Mtn View:

Condo Median List Price for Mountain View, CA by Altos

Median list price more recently:

The mid-to-entry level markets are more affected by changes in the market when it comes to pricing. Luxury homes appear to hardly notice seasonal dips and peaks. As you can see on all of these lines, there’s a predictable price drop in winter. There was another drop early during the shelter-in-place order, but it climbed into summer and around mid-autumn it’s begun to cool again in most sectors.

Real Estate Market Chart by Altos Research www.altosresearch.com

Average days on market:

Again, the days on market for condos, like for houses, appear unruly and unpredictable. They’re all over the place! But most sectors are selling around 45 days with luxury properties taking longer, around 75 days on average. With such small pools of data, these numbers can change quickly and wildly. Remember that the mid-March to May data is not useful in this chart.

Real Estate Market Chart by Altos Research www.altosresearch.com

Inventory:

Listings were on the rise fairly steadily since the lowest point back in March 2019 with a massive plunge in December that continued to plunge through winter. Low inventory began to rise again in March and finally peaked around early October with inventory falling off since. A clear example of seasonal trends!

Real Estate Market Chart by Altos Research www.altosresearch.com

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.)

Related Reading:

Cupertino Real Estate Market Trends and Statistics

Sunnyvale real estate market trends & statistics

Los Altos: Beautiful Silicon Valley Suburb