2017 Market Analysis: How’s the Market?
Part 5 of 6
What’s happening in Mountain View?
Mountain View offered one of the widest ranges of prices for single family homes in 2017 from a low of $950,000 to a high of $3,575,000. Three of the most popular neighborhoods are near Cuesta Park, Varsity Park, and Waverly Park, which are all south of El Camino Real. The lowest priced home south of El Camino sold for $1,475,000 which worked out to $1,540 per square foot. It’s worth noting that price per square foot is not always the best measure of value. It is a convenient ratio that normalizes the data, but the trends are non-linear. A smaller house will have an elevated price per square foot ratio because the denominator is smaller. One should use price per square foot as a starting point and one datapoint among many others such as location, condition, schools, etc. to determine the value of a specific home.
There are a few pockets of Mountain View that feed into Los Altos School District (K-8). In the past, Buyers who wanted to be in the Los Altos School District could buy into one of these Mountain View neighborhoods at a discount relative to the neighborhoods in Los Altos with Los Altos Schools (K-8). However, in 2017, Mountain View with Los Altos schools averaged $1348 per square foot which is just below the $1354 per square foot for North Los Altos with Los Altos Schools and actually exceeds the the price per square foot ratio of other parts of Los Altos.
MV Los Altos
MV South of
El Camino Real
MV North of
El Camino Real
In the past, Mountain View homes north of El Camino Real sold at a discount relative to those south of El Camino Real. However, in 2017, we saw a 14.5% jump in price per square foot for single family homes north of El Camino Real. In Mountain View, neighborhoods like Monta Loma and downtown Mountain View have become very popular due to their proximity to major employers like Google and the Caltrain station in downtown Mountain View – plus the restaurants on Castro Street are a popular draw! The public schools near Monta Loma have become increasingly desirable while remaining relatively affordable in recent years.
Mountain View Price per Square Foot
If you are considering a home in Mountain View for its public schools, you should know that Mountain View Whisman School District (K-8) is in the process of redistricting some of their schools. More information can be found here: https://www.mvwsd.org/boundaries
The next and final article will show a summary of the Price per Square Foot ratios for all the neighborhoods in Los Altos, Los Altos Hills, Mountain View and Sunnyvale.
Location matters and so does picking the right agent for your real estate needs!
Interested Buyers should verify the enrollment and availability policies directly with the appropriate school district for any school that they might be interested in BEFORE making an offer on any home.