Mountain View Housing Market – Third Quarter 2010 Update
by Alex Wang on Oct 26, 2010 | No Comments »
| Mountain View | 3rd Quarter 2010 | 2nd Quarter 2010 | 1st Quarter 2010 | 3rd Quarter 2009 |
|---|---|---|---|---|
| Median Sales Price | $892,000 | $923,750 (-3.4%) | $867,500 (+2.8%) | $862,500 (+3.4%) |
| Average Days on Market | 43 | 32 (+34.4%) | 44 (-2.3%) | 63 (-31.7%) |
| Closed Sales | 73 | 102 (-28.4%) | 46 (+58.7%) | 82 (-11%) |
| Sales Price to List Price Ratio | 99.94% | 100.13% (-0.2%) | 100.61% (-0.7%) | 97.04% (+3%) |
| Total Sales Volume | $70,393,425 | $98,503,321 (-28.5%) | $41,693,400 (+68.8) | $77,677,700 (-9.4%) |
(single-family home data from MLS listings Inc.)
Part of the advantages of Silicon Valley is that the housing market ride for the past few years has been less bumpy than what the nation has experienced. A good example of this calm is in the city Mountain View.
Even examined against our other comparison cities, Mountain View has been the most stable, especially in regard to the median sales price. It bumped up to $1,148,440 during the boon in 2007, but unlike everybody else in 2009, it bumped up instead of sliding. Since then the city median has floated at $900,000 for single-family homes.
Average days on market bumped up and closed sales fell compared to last quarter, but some of that is due to market cycles. The sales price to listing price ratio is at a healthy 99.94%, meaning a fair market for both buyers and sellers.
Part of the stability in Mountain View is due to the reasonable prices compared to Los Altos and Palo Alto. There will always be buyer demand at just under a million, especially since it shares the benefits of being a neighbor to prestigious cities, has good schools, and an ideal location in the Silicon Valley.
Categories: Market Updates, Mountain View, Silicon Valley News
