News

Home sales way down, but prices remain high

The median price of a single-family home in Mountain View remained just over $1 million in the first quarter of 2009, despite the fact that half as many were sold compared to the same period last year, according to the local Realtors' association.

The trend is the reverse of what's been reported in Santa Clara County overall, where sales have reached new heights in some areas as the county median for previously owned, single-family homes dropped from $716,500 in February 2008 to $421,000 in February 2009.

The Silicon Valley Association of Realtors reports that the median price of a single-family home in Mountain View was at $1,015,037 in the first quarter of 2009, down just slightly from $1,050,000 in the first quarter of 2008 and up from $946,500 in the first quarter of 2007.

Local median condo prices declined much farther, however, going from $645,000 in the first quarter of 2008 to $569,000 in the first quarter of 2009. That number is still higher than the $559,750 median reported in the first quarter of 2007.

Mountain View home sales are down overall: Only 33 condos and 20 single-family homes were sold in 2009's first quarter, compared to 55 condos and 47 single-family homes in the same period last year.

City officials report that there were 40 foreclosures in Mountain View in 2008.

Comments

 +   Like this comment
Posted by The Dad
a resident of Cuesta Park
on Apr 14, 2009 at 8:29 am

Paradise doesn't come cheap.


 +   Like this comment
Posted by The Son
a resident of another community
on Apr 14, 2009 at 1:17 pm

Correction: Small, run down, tear down, World War 2 worker era, Superfund contaminated, full of Prop 13 benefactors who pay $1000 a year in property tax, mediocre K-6 schools [compared to nationally], paradise doesn't come cheap.


 +   Like this comment
Posted by QM
a resident of North Whisman
on Apr 14, 2009 at 6:45 pm

Wow. That said it all Son... Try paying 10K in property tax a year, and then have your neigborhood school closed and given to Google.


 +   Like this comment
Posted by The Dad
a resident of Cuesta Park
on Apr 15, 2009 at 12:27 pm

Well Son, I'm guessing you're a "glass is half empty" kinda kid, but
as the story shows, your view of Mtn View differs greatly than the people who keep lining up to buy the houses but whatever your view of the city, we're both right...its not inexpensive.


 +   Like this comment
Posted by Tom Wilkins
a resident of another community
on Apr 20, 2009 at 1:41 pm

[Post removed due to promoting a website]


 +   Like this comment
Posted by eric
a resident of another community
on Apr 20, 2009 at 5:17 pm

Hm. The Son is awfully bitter. And, since we dont have a K-6 school system, clearly whining about that of which he does not know.


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