Select Page

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 warming up again after a brief and mild winter cooling. This March has been a busy one, but in some areas it’s not looking quite as hot as March 2020. Here’s a glance at some of what we’ll see in the single family home market below:

  • Sales, pending sales, and active inventory were all up from March 2020 indicating plenty of activity.
  • Days on market average around a month at 29 days.
  • The sales to list price ratio is hot at 104.4%, just not quite as hot as the 108.2% we saw this time last year.

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 and pending sales grew from the month before, and both are well above March 2020 numbers. Active inventory slipped month-over-month and is just a hair over last year. The market is looking more active than last year, with more than quadruple the number of pending sales. Despite a more active market, March 2020 had quicker average days on market and higher average overbid. Mountain View is in a prolonged seller’s market that’s heating up into spring, but looking a little less wild than 2020.

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

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%)

and the month before:

Trends At a Glance Feb 2021 Previous Month Year-over-Year
Median Price $2,617,500 (+42.3%) $1,838,800 $2,040,000 (+28.3%)
Average Price $2,656,530 (+36.7%) $1,944,020 $2,224,500 (+19.4%)
No. of Sales 26 (+52.9%) 17 18 (+44.4%)
Pending 35 (+20.7%) 29 21 (+66.7%)
Active 21 (+23.5%) 17 10 (+110.0%)
Sale vs. List Price 102.2% (+0.2%) 102.1% 106.3% (-3.8%)
Days on Market 31 (-12.5%) 36 10 (+206.3%)
Days of Inventory 22 (-27.3%) 30 16 (+40.2%)

 

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 (April 6th), 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 summer in all areas but the lowest price point, which climbed through winter and is still inching upwards.

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 35 days. Lower-priced homes (second lowest tier) are taking the longest to sell, hanging around 95 days on average. The bookend price tiers are taking around 50-60 days to sell, and the second highest price tier is selling the fastest in roughly 2 weeks or less. 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 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 and rising through summer. We’ve hit the bottom of winter inventory and things are just beginning to turn around in March 2021.

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 and pending sales grew both month-over-month and more than double year-over-year. Available inventory fell from the month before, but is a little higher than last year. The average time to sell sped to a 22 day average and the sales to list price ratio held at 102% of list price. Overall it remains a busy seller’s market for condos and townhomes in Mountain View, although less active than single family homes.

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%)

and the month before:

Trends At a Glance Feb 2021 Previous Month Year-over-Year
Median Price $1,238,000 (+17.9%) $1,050,000 $1,230,000 (+0.7%)
Average Price $1,215,830 (+12.8%) $1,077,550 $1,265,640 (-3.9%)
No. of Sales 27 (+42.1%) 19 11 (+145.5%)
Pending 37 (+2.8%) 36 19 (+94.7%)
Active 42 (+16.7%) 36 20 (+110.0%)
Sale vs. List Price 102.1% (+2.2%) 100.0% 102.9% (-0.7%)
Days on Market 35 (+29.5%) 27 25 (+37.1%)
Days of Inventory 42 (-26.1%) 57 51 (-17.5%)

 

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 holding fairly stable. 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 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.

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, but surprisingly they’re coming together right now! All sectors are selling around 40 – 45 days. 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 has leveled off, and it doesn’t appear to be moving from that point as of April.

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