RECAP OF ANNUAL 2024
NUMBER OF SALES
Sales increased by 16% in 2024, following the record low sales in 2023. There were 255 single-family homes sold as reported through the Multiple Listing Service in 2024.
There were an additional 280 condos/townhomes sold in Mountain View, which are not included in this report; however, I would be happy to send you my separate report on them if you are interested or you can download a copy at davidtroyer.com/MVreport.
PRICES
Prices increased in 2024 with both the average and median price reaching record highs. The average and median were each 4% higher than the previous year and both exceeded the previous records set in 2022. As the year went on, prices increased. In the first half, the average was $2,752,186; in the second half, the average price was $2,821,340.
The median price was more balanced throughout the year. In the first half, the median price was $2,627,500 and then increased slightly to $2,660,000 in the second half.
The highest end of the market was strong with 26 sales for more than $4 million (compared to just 15 the previous year). This included 5 sales for more than $5 million, the most expensive being the second-highest price on record in Mountain View.
There were 181 homes, or 71%, that sold for more than list price. There was a shift between the first and second halves with 77% over list price in the first half and 65% in the second half.
LENGTH OF TIME TO SELL
Homes sold very fast in 2024, a clear indication of demand. The greatest, 44%, sold in 7 days or less; another 29% sold in 8 to 14 days. There were only 34 homes that were on the market for more than 30 days.
There was a direct correlation between days on market and price. For the 25 homes that were not accurately priced when listed and therefore required a price reduction, the average days on market was 49. All other homes had average days on market of just 13. Setting the correct price based on local market knowledge and conditions is essential to obtaining maximum value and a timely sale.
PRICES
Prices increased in 2024 with both the average and median price reaching record highs. The average and median were each 4% higher than the previous year and both exceeded the previous records set in 2022. As the year went on, prices increased. In the first half, the average was $2,752,186; in the second half, the average price was $2,821,340.
The median price was more balanced throughout the year. In the first half, the median price was $2,627,500 and then increased slightly to $2,660,000 in the second half.
The highest end of the market was strong with 26 sales for more than $4 million (compared to just 15 the previous year). This included 5 sales for more than $5 million, the most expensive being the second-highest price on record in Mountain View.
There were 181 homes, or 71%, that sold for more than list price. There was a shift between the first and second halves with 77% over list price in the first half and 65% in the second half.
LENGTH OF TIME TO SELL
Homes sold very fast in 2024, a clear indication of demand. The greatest, 44%, sold in 7 days or less; another 29% sold in 8 to 14 days. There were only 34 homes that were on the market for more than 30 days.
There was a direct correlation between days on market and price. For the 25 homes that were not accurately priced when listed and therefore required a price reduction, the average days on market was 49. All other homes had average days on market of just 13. Setting the correct price based on local market knowledge and conditions is essential to obtaining maximum value and a timely sale.
Rollover or click map to see more information for each area.
Rollover or click map to see more information for each area.
This area reached a new record high average price, remaining over $2 million for the second consecutive year. There were 21 sales compared to 20 in 2023 and 16 in 2022. 16 sales, or 76%, were for more than list price. More than half of the sales were for more than $2 million and one sale was for $3 million, the third highest on record.
There were 11 sales in 2024 compared to 9 in 2023 and 17 in 2022. Demand was strong with all but 2 homes selling for list price or more and by as much as 30% more. Only two homes sold for less than $2 million and the average price was up 9% to a new all-time high. The median price was even higher at $2,700,000, also a record high. More than half of the homes sold in 8 days or less.
Sales were strong here and the average and median price each reached a record high. The average price was up 5% and the median price was up 13%. The high end was strong with 7 sales for more than $3 million, including a record high sale for $3,938,000 – a new home that sold just under list price. On the opposite end, there was one sale for less than $1 million. Homes sold quickly with 17, or 46%, selling in 9 days or less.
Following two years of low sales, 2024 saw 8 sales in this area, 3 for list price and 2 for more than list price. The average price was up an impressive 37% yet still not to the record high achieved in 2021. The median price, however, did reach a record high of $2,310,000. The length of time to sell a home varied with 4 selling in 9 days or less and the others taking as long as 145 days.
Sales were strong here with 25 sales in 2024. A significant 15 of the 25 homes sold for more than list price, 15 sold in 15 days or less, and 3 sold at list price – all clear evidence of strong demand. A record high individual price was reached at $3,880,000 that sold for 11% over list price. The previous high was $2,898,000 in 2021. Only 5 homes in 2024 sold for less than $2 million.
After 2023’s dramatic decline, sales almost tripled in 2024 with 11 sales – and all but 2 sold in 8 days or less. While the average price was down 14%, the median price reached a record high of $2,317,000. In addition to homes selling so quickly, demand was further evidenced by the fact that all but 2 homes sold for far over list price.
As in 2023, this area had more sales than any other area in Mountain View. There were 45 sales compared to 40 in 2023. There were 6 sales for more than $3 million, including one at $4,457,000, which was the third highest on record. Prices were 4% higher than in 2023 yet still not to the record high set in 2022. Homes sold quickly with 71% selling in just 2 weeks or less.
This sought-after area was very strong with 31 sales, a record high average and median price, and very low days on market. The average price reached almost $4 million and there were 13 homes that sold for more than $4 million. Only one home sold for less than $3 million. The median price was up 9% to $3,800,000. A significant 84% of the homes sold for more than list price.
This area had the second highest average price in Mountain View with a significant 16% increase and a new record high for the area. There were 11 sales for more than $4 million, including 3 for more than $5 million, and all of these homes sold for more than list price. There were only 3 homes that sold for less than list price. With demand like this, it’s no surprise that homes sold very quickly – in fact, this area had the lowest days on market in all of Mountain View.
This average price reached a record high, exceeding the $3 million level for the first time. Demand was exceptionally strong with only 3 homes selling for less than list price. The average home sold for 109% of list price. There was a record high sale at $5,425,000. Homes sold very fast with 33 of the 37 sales, or 89%, selling in 2 weeks or less.
RECAP OF 2024
NUMBER OF SALES
There were 280 sales of condos/townhomes reported through the Multiple Listing Service in 2024, a significant 23% increase from the previous year but still dramatically less than at the height of the pandemic in 2021. Sales were consistent throughout the year with 142 sales in the first half and 138 sales in the second half of the year.
There were an additional 255 single-family homes sold in Mountain View, which are not included in this report; however, I would be happy to send you my separate analysis of them if you are interested or you can download a copy at davidtroyer.com/MVreport.
PRICES
Once again, prices held fairly steady in 2024, having stayed in the $1.2 million average price range every year since 2018. The average price rose by less than 1% to $1,279,716 in 2024. The median price dipped by 1.5% but remained above $1.3 million for the second year in a row.
The highest percentage of sales, 35%, were homes sold for more than $1.5 million. 30%, were in the price range of $1 million to $1.5 million, and 35% of the sales were for less than $1 million.
There were 166 homes, or 59%, that sold over list price (compared to 55% the previous year). On average, condos/townhomes sold for 104% of list price, compared to 103% in 2023.
LENGTH OF TIME TO SELL
Homes sold fairly quickly in 2024. 99 homes, or 35% sold in one week or less; 160 homes, or 57%, sold in 2 weeks or less. There were, however, 67 homes that were on the market from 30 to 311 days before selling.
There was a direct correlation between days on market and price. For the 52 homes that were not accurately priced when listed and therefore required a price reduction, the average days on market was 72. All other homes had average days on market of just 15. Setting the correct price based on local market knowledge and market conditions is essential to obtaining maximum value and a timely sale.
Rollover or click map to see more information for each area.
Rollover or click map to see more information for each area.
This area had the highest number of sales in any area of Mountain View. There were 66 sales, which was up significantly from 53 sales in 2023. The average price was up 3% and almost to the record high in 2022. There were 3 sales above $2 million and an impressive 70% of the homes sold over list price. Homes sold quickly with more than half selling in 10 days or less, yet there were 13 homes that took longer than 30 days to sell.
There were 7 sales here compared to 5 in 2023. Because 4 of the sales were for less than $1 million, both the average and median prices were down. However, it is important to note that the 3 homes that sold well over $1 million, each sold for more than list price and very quickly. The length of time on the market for the 7 homes varied from just 5 days to 311 days.
Sales were very strong here with 62 sales, compared to 42 in 2023 and 50 in 2022. The average price was down just slightly from the record high in 2023. A new individual record high was reached at $2,037,000, which sold for far more than list price. There were 38 homes, or 61%, that sold over list price. Only 16 homes sold for less than list price. The median days on market was 10, but it is notable that there were 13 homes that were on the market for more than 30 days.
There were 51 sales in this area, a 5.5% decline from 2023. The average price reached a record high exceeding $1.5 million for the first time and representing a 10% increase. There were 9 sales for $2 million or more, compared to just 3 in 2023. 63% of all sales were for more than list price and half of all sales were in 10 days or less.
This area has just a few townhome complexes so it is not uncommon for the number of sales to be low. There were 5 sales, 3 of which were at a new community and all of those sold over $2 million. This resulted in a record high average price exceeding $1.9 million and up 10% since 2023. All homes sold quickly with a median days on market of just 8 – the lowest of any area in this report.
This area had the second-highest number of sales for any area in Mountain View. There were 64 sales, compared to just 44 in 2023 – a dramatic 45% increase. The average price was up slightly but still not to the records set during the pandemic. 52% of the homes sold over list price and half sold in 2 weeks or less. A record high individual sales price was reached at $2,205,000.
Sales more than doubled in this area with 16 sales compared to just 7 in 2023. The average price was up 10% but still not to the record high set in 2021. There were 3 sales for more than $2 million, including a record high individual sale at $2,428,000. Homes varied for length of time on the market with 6 selling in one week or less and 5 taking longer than 30 days to sell.
There were no sales of condos/townhomes in this area and just one sale in 2023.
209 MIRAMONTE
There were 9 sales in this area, compared to 12 sales in each of the previous two years. 5 sales were for $1.3 million or more, including one exceeding $2 million, and 4 sales were for less than $1 million. The average price was down 6% and below $1.3 million for the first time since 2021. 3 homes sold for list price, 2 homes sold over list price, and 4 homes sold for less than list price.