Here's the latest real estate market snap shot for Mountain View, California. Comparing the numbers to the November snapshot - the Mountain View market seems to be settling down for a bit of a winter nap.
The Median and Average list prices for both condos and single family homes are virtually the same as for November. And as you'll see below - the number of properties listed for sale continues to decline. Part of this, of course, is a seasonal effect, but the holidays can not account for all of the decline.
With this reduced supply of homes for buyers to consider - you might expect that properties would be selling quickly. Indeed - it's not uncommon to see a well-priced home in a desirable location sell very quickly with multiple offers. Overall - though - the trend is for both single family homes and condos to take longer to sell now than earlier this year. It will be interesting to see if this trend continues after the New Year - when the official real estate season kicks off for 2010!
And in the spirit of highlighting the high's and the low's of 2009 - I looked to see what have been the high and low sales for single family homes in Mountain View over the past year:
- The biggest sale was a $2.2 million sale of a 2 bedroom, 1 bathroom home with 1750 square feet in downtown Mountain View. The draw in this case was the size of the lot - just a little over 1.25 acres. This works out to be about $39 / square foot for the lot.
- The least expensive single family home sold thus far in 2009 is a 2 bedroom, 1 bathroom home with 1056 square feet in the "North Shoreline" area of Mountain View. This property was marketed specifically for the value of the land & sold for $330,000. The lot was listed as 3366 square feet - so this sale works out to be $98 /square foot of dirt.
Interesting that the single family market in Mountain View is bracketed at the low and high end by sales of properties marketed for reconstruction.
Here are the statistics for both single family homes and condos in Mountain View:
|
Overall Market Snapshot:
Mountain View, CA as of December 14, 2009
|
| |
Condos |
Single Family Homes |
| Median List Price |
$499,000 |
$839,000 |
| Average List Price |
$504,428 |
$913,060 |
| Least Expensive Listing |
$187,160 |
$469,900 |
| Most Expensive Listing |
$1,019,500 |
$1,688,000 |
| Asking Price per Sq. Foot |
$407 |
$546 |
| Average Days on Market |
127 |
126 |
| Total # of Properties on Mkt |
61 |
61 |
| Median Home Size (sq ft) |
1173 |
1565 |
| Median Lot Size (sq ft) |
-- |
4501-6500 |
| Median Number of Bedrooms |
2.0 |
3.0 |
| Median Number of Bathrooms |
2.0 |
2.0 |
| Median Age (years) |
30 |
52 |
The median home price trend for Mountain View is shown below. Note that single family homes are shown in orange and condos in black.
The trend for the number of properties listed for sale in Mountain View (single family homes in orange, condos in black)
And finally - the "days on market" - a measure of how long a property is taking to sell in Mountain View (single family homes in orange, condos in black).
Have a GREAT week!
Laura Powers, Realtor
The Dawn Thomas Team
Intero Real Estate Services
496 First Street, Suite 200
Los Altos CA 94022
(877) 901-2121
CA DRE License: 01860743
____________________________________________________________________
The Dawn Thomas Team, Inc.
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