Almost every news article is full of news about how home sales are down and prices have fallen but I wanted to see if that holds true for the local real estate market in Mountain View, CA. Has the market fallen dramatically and has the number of transactions fallen significantly? I decided to do some research on MLSListings, Inc. and see what the actual sales numbers look like for single family homes (SFH) in Mountain View.
I have had a gut instinct that prices today were fairly close to what they were in 2007 but I wanted to take a look at the real numbers. This is what I found:
Oct 2011 Snapshot
# of SFH listed-31
Cancellations or withdrawls-2
Short Sales/REOs-1
Highest priced SFH-$1,849,318
Lowest priced SFH-$594,500
Average SFH characteristics-
Listed for $1,037,082
3 bedroom & 3 bath home builit in 1959 with 1709 sq ft on a 6938 sq ft lot
Oct 2010 Snapshot
# of SFH listed-31
Cancellations or withdrawls-8
Short Sales/REOs-0
Highest priced SFH-Listed 1.699M sold 1.79M
Lowest priced SFH-Listed 435K sold 380K
Average SFH characteristics-
On the market for 46 days
Listed for $941,332 and sold for $939,748
3 bedroom 2 bath built in 1962 with 1531 sq ft on a 6322 sq lot
October 2009 Snapshot
# of SFH listed-30
Cancellations or withdrawls-0
Short Sales/REOs-3
Highest priced SFH-Listed $1,718,153 sold $1,653,823 took 421 days to sell!
Lowest priced SFH-Listed 399K sold 399K
Average SFH characteristics-
On the market for 55 days
Listed for $905,986 and sold for $905,787
3 bedroom and 2 bath built in 1963 with 1628 sq ft on a 5674 sq lot
October 2008 Snapshot
# of SFH listed-24
Cancellations or withdrawls-17!!!! Or 0ver 70% of homes did not sell
Short Sales/REOs-0
Highest priced SFH-listed for $16,950,000 sold $1,613,000
Lowest priced SFH-listed $828,000 sold $765,000
Average SFH characteristics-
On the market for 61 days
Listed for $1,107,929 and sold for $1,065,809
4 bedroom and 3 baths built in 1957 with 1837 sq ft on a 7702 sq lot
October 2007 Snapshot
# of SFH listed-42
Cancellations or withdrawls-16 almost 40% of homes were taken off the market
Short Sales/REOs-0
Highest priced SFH-listed $1,600,000 sold for $1,595,000
Lowest priced SFH-listed $640,000 sold for $650,000
Average SFH characteristics-
On the market for 22 days
Listed for $1,038,627 and sold for $1,047,014
3 bedroom and 2 baths built in 1958 with 1576 sq ft on a 6818 sq ft lot
The average list price in 2007 and 2011 are very close but the number of listings are down about 25%. So is the news half right? Let me know your thoughts on the state of the market.
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