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Marcy Moyer's Blog

By Marcy Moyer | Agent in Palo Alto, CA

Mountain View Real Estate Market Update 8/11/2013


There are currently 16 single family Mountain View homes for sale,  the same as last week.

There are currently 15 Mountain View town homes/condos for sale,  the same as last week.

There are currently 37 pending sales of Mountain View single family homes,  up from 31 last week.

There are currently 30 pending sales of Mountain View Town homes/Condos, up from 29 last week.


In July, 2013 there were 27 single family Mountain View homes sold ranging in price from $850,000 to $2,098,000. This does not include sales in the new development in Waverley Park. The lowest price sale is up almost 100K from June.

In June, 2013  there were 31 Mountain View Town Homes/Condos sold ranging in price from $340,000 to $980,000. These numbers are lower than June. Are we starting to level off in appreciation? I think so. 

The inventory is the same as last week in single family home listings as well as condos. Pending sales are up which shows a still very strong demand for homes in Mountain View.  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 don't expect to see another jump until Sept at the earliest, but the structural problem of not enough single family homes is not going to be solved this. 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.

If you would like to search for homes for sale please feel free to visit my website for a custom search.

http://marcymoyer.com/OnlineSearchRequest2?operation=choose_mls&timestamp=1359953266454

If you have any questions about buying or selling a home in Mountain View please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

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