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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 is experiencing spring warming in full swing! This April has been a busy one, especially compared to April 2020 with the first impacts of the pandemic on our real estate market. Here’s a glance at some of what we’ll see in the single family home market below:

  • Sales continued to skyrocket while active inventory growth is at a crawl (and still falling short of last year)
  • Days on market average just over 2 weeks at 16 days.
  • The sales to list price ratio heated to a scorching 108.9% 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 nearly doubled from the month before, more than 6x greater than April 2020 sold! Active inventory inched up month-over-month and is just a hair behind last year. Pending sales fell from the month before, but is close to triple 2020 numbers. The market is looking significantly more active than last year, which was experiencing a strong cooling with the original shelter-in-place order. Looking back to March 2020, the current market is still significantly more active than before the shutdown! Mountain View is in a prolonged seller’s market with pent up demand causing a raging hot spring market!

Mountain View is a strong seller’s market with an unusually high level of activity.

Trends At a Glance Apr 2021 Previous Month Year-over-Year
Median Price $2,480,000 (+16.0%) $2,137,500 $2,015,000 (+23.1%)
Average Price $2,588,920 (+8.8%) $2,380,050 $2,216,250 (+16.8%)
No. of Sales 53 (+89.3%) 28 (+562.5%)
Pending 30 (-36.2%) 47 11 (+172.7%)
Active 21 (+10.5%) 19 24 (-12.5%)
Sale vs. List Price 108.9% (+4.3%) 104.4% 101.0% (+7.8%)
Days on Market 16 (-46.2%) 29 15 (+4.4%)
Days of Inventory 11 (-43.6%) 20 87 (-86.8%)

and the month before:

Trends At a Glance Mar 2021 Previous Month Year-over-Year
Median Price $2,137,500 (-18.3%) $2,617,500 $2,150,000 (-0.6%)
Average Price $2,380,050 (-10.4%) $2,656,530 $2,207,860 (+7.8%)
No. of Sales 28 (+7.7%) 26 21 (+33.3%)
Pending 47 (+34.3%) 35 10 (+370.0%)
Active 19 (-9.5%) 21 18 (+5.6%)
Sale vs. List Price 104.4% (+2.2%) 102.2% 108.2% (-3.5%)
Days on Market 29 (-6.2%) 31 (+252.3%)
Days of Inventory 20 (-6.7%) 22 26 (-20.8%)

 

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 (May 12th), inventory is beginning to grow and days on market are low and steady. 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 since last summer in all areas but the lowest price point, which climbed through winter and into spring. The mid-tiers started to climb again in March 2021 with anticipated spring warming.

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 (second highest tier) properties are selling fastest at around 15 days. Lower-priced homes (second lowest tier) are taking the longest to sell, hanging around 50 days on average. The bookend price tiers are taking around 30-45 days to sell. 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 hit it’s peak around September last year and experienced a gradual decline until late December when winter cooling began in full force. Seasonal trends usually show market decline through winter with turnaround in spring, rising through summer. The bottom of winter inventory was lower especially low and while it began to grow again around March 2021, the chart is still showing severely low inventory this spring.

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. Closed sales shot up month-over-month, rising more than 6x last year’s closings. Available inventory and pending sales both fell from the month before, but remain higher than last year with pending sales almost tripled from 2020. The average time to sell sped to a 21 day average and the sales to list price ratio warmed to 104.1% of list price. Overall it’s a bustling seller’s market for condos and townhomes in Mountain View, though cooler than single family homes.

Trends At a Glance Apr 2021 Previous Month Year-over-Year
Median Price $1,200,000 (-13.4%) $1,385,000 $1,349,180 (-11.1%)
Average Price $1,204,530 (-10.0%) $1,338,000 $1,324,200 (-9.0%)
No. of Sales 49 (+69.0%) 29 (+512.5%)
Pending 49 (-7.5%) 53 17 (+188.2%)
Active 27 (-20.6%) 34 25 (+8.0%)
Sale vs. List Price 104.1% (+2.1%) 102.0% 104.9% (-0.8%)
Days on Market 21 (-6.9%) 22 (+175.4%)
Days of Inventory 16 (-54.6%) 35 91 (-82.4%)

and the month before:

Trends At a Glance Mar 2021 Previous Month Year-over-Year
Median Price $1,385,000 (+11.9%) $1,238,000 $1,012,500 (+36.8%)
Average Price $1,338,000 (+10.0%) $1,215,830 $1,107,790 (+20.8%)
No. of Sales 29 (+7.4%) 27 14 (+107.1%)
Pending 53 (+43.2%) 37 14 (+278.6%)
Active 34 (-19.0%) 42 30 (+13.3%)
Sale vs. List Price 102.0% (-0.1%) 102.1% 104.1% (-2.0%)
Days on Market 22 (-36.4%) 35 13 (+65.1%)
Days of Inventory 35 (-16.3%) 42 64 (-45.3%)

 

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 steadily rising market action. Days on market are low and steady and inventory is shrinking. 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:

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. 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, but it climbed into summer and around mid-autumn with a predictable price drop in winter. Most areas are now pointing up again as of April 2021.

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 are usually all over the place, and a number of them have just switched places! All sectors are selling between 20 – 45 days with the highest price tiers selling fastest and the lowest priced tier selling more slowly. 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.

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 2020 and finally peaked around early October 2020 with inventory falling off into the new year. A clear example of seasonal trends! Around February inventory leveled off, and it doesn’t appear to be budging from that point as of May 2021.

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