Mountain View Real Estate Market Update July 2009 – Miramonte Neighborhoods (MLS Area 209)
Area 209 (as it is defined by our local multiple listing service) is a series of smaller neighborhoods located west of El Camino Real in the ciity Mountain View that run off of Miramonte Avenue and Cuesta Drive (see map below).
According to MLS Listings Inc. data, there currently are 11 active listings for sale in the Mountain View MLS area 209. The most expensive home on the market (priced at $1,848,000) is a 4 bedroom 3 bath remodeled home by owner/contractor Jack Myers. It is stunning! It is located in the Gest Ranch neighborhood which is within the Los Altos School District boundaries.
The least expensive home in area 209 is a 3 bedroom 2 bath home on a substandard sized lot (approx. 4,977 sf) and a busy street. It is priced at $759,000. Currently 8 homes are under contract in area 209, ranging in price from $775,000 – $1,599,500.
Below are July 2009 Statistics for Mountain View’s MLS area 209:
Sales are up slightly relative to the last 3 years. Listings are down slightly.
Both Average and Median Sales prices have creeped up from last year and are closer to 2005 numbers.
The 20 days it took to sell a home in July 2009 is slightly longer than in 2007 and 2008, but it is about average relative to the last 12 years.
The list price to sale price ratio is slightly under 103%. It appears that homes are beginning to receive multiple offers and get slightly bid up. Note: This number should be taken with a grain of salt.
Why, one may ask? A home may have been on the market for a period of time with no offers. The home is pulled from the market and re-listed at a lower price point. It is at this lower price point that it may receive multiple offers. Therefore it looks to the public that the home sold quickly with multiple offers when it really didn’t. That is why buyers should always ask for the “listing” history of the home they intend to purchase.
