Month-over-Month Changes

The Mountain View real estate market experienced some changes in July 2023 compared to June 2023. Here’s a summary:

  • Homes Sold: 21 homes were sold, a 25% decrease from 28 sales the previous month.
  • Median Sale Price: There was a 2% decrease, from $2,500,000 in June to $2,460,000 in July.
  • Days on Market (DOM): The DOM rose to 9 from 7 in June.
  • Percentage of List Price Received: Sellers received 104% of their asking price, a decrease from 106% in June.

These changes suggest a slight slowing in the market, with fewer sales and properties taking longer to sell.

Year-over-Year Comparison

Comparing July 2023 to July 2022, the following year-over-year changes were noted:

  • Homes Sold: Decreased by 22%, from 27 to 21.
  • Homes Listed: Increased by 4%, from 25 to 26.
  • Median Sale Price: No change, remaining at $2.46M.
  • Average Dollar per Square Foot: Increased by 7%, from $1563 to $1677.
  • Median Days on Market: Decreased by 25%, from 12 to 9.
  • Months of Inventory: Decreased by 25%, from 0.8 to 0.6.

These statistics indicate a market with fewer listings and sales compared to the previous year, with slightly longer selling times.

Price Points and Quadrants

The July 2023 sales details were broken down by quadrants:

  • Top Quadrant: 6 homes sold, Median Sale Price: $3,317,500, Median DOM: 7, Avg. $/Sq.Ft.: $1,524.
  • Second Quadrant: 5 homes sold, Median Sale Price: $2,600,000, Median DOM: 7, Avg. $/Sq.Ft.: $1,803.
  • Third Quadrant: 5 homes sold, Median Sale Price: $2,400,000, Median DOM: 9, Avg. $/Sq.Ft.: $1,647.
  • Bottom Quadrant: 5 homes sold, Median Sale Price: $1,800,000, Median DOM: 13, Avg. $/Sq.Ft.: $1,595.

These details provide insights into the segments of the market that are most active, with an even distribution across the quadrants.

Conclusion

The Mountain View market in July 2023 showed a decrease in sales and a slight increase in selling times compared to both the previous month and year. The breakdown by quadrants offers valuable insights for buyers and sellers, highlighting the competitive nature of the market.

Data provided by MLSListings and is deemed reliable but not guaranteed.