There are currently 15 single family Mountain View homes for sale, down from 16 last week.
There are currently 20 Mountain View town homes/condos for sale, down from 23 last week.
There are currently 36 pending sales of Mountain View single family homes, up from 32 last week.
There are currently 26 pending sales of Mountain View Town homes/Condos, down from 34 last week.
In Sept 2013 there were 22 single family Mountain View homes sold ranging in price from $635,000 to $2,318,000. This does not include sales in the new development in Waverley Park. The lowest price sale is down over 100K from July, but in an industrial neighborhood. The lowest price single family home in a residential neighborhood was $704,000. Down $146,000 from the lowest price in August.
In September, 2013 there were 28 Mountain View Town Homes/Condos sold ranging in price from $405,000 to $1,165,000. I thought prices were starting to level off in Mountain View, but it does not appear to be the case $405,000 for a one bedroom condo is not a sign that the market is leveling off.
I would like to see at least 40 single family homes for sale and at least 60 condos for sale at any given week, but that is not happening. One problem with so few single family homes for sale is that there are not as many single family homes in Mountain View as there are condos. With few homes and more buyers it is a difficult market for buyers. August is always a slow month for listings so I didn't expect to see another jump until Sept which so far has been more like a skip than a jump. The structural problem of not enough single family homes is not going to be solved any time soon. In some communities such as Palo Alto and Menlo Park there are many empty nestors who would be selling, but do not because their grown children come back to live with them; this is not the case for a Mountain View condo. Many condo owners who would have sold to move up were not able to when prices were below their original purchase price. Appreciation has wiped out that problem so hopefully we see more condo sellers soon. In the mean time we are in the doldrums as far as inventory and pending sales go.
If you would like to search for homes for sale please feel free to visit my website for a custom search.
If you have any questions about buying or selling a home in Mountain View please feel free to contact me.
- See more at: http://activerain.com/blogsview/4226362/mountain-view-ca-real-estate-market-update-10-20-2013#sthash.eiXO8wC7.dpuf