Above is a snapshot of Mountain View real estate activity for the week of 06-08-2007.* According to Altos Research, ” Demand measured by the Market Action Index is increasing and days-on-market is holding steady.” Mountain View continues to be a “Warm Seller’s” market.
Mountain View’s median house price is about half that of Palo Alto’s for a number of reasons. First and foremost, you pay a premium for the highly regarded Palo Alto schools. Second, Mountain View has a higher percentage of smaller tract homes and condos, which drags the collective median house price down. And another factor is the look-and-feel of the respective towns; many Palo Alto neighborhoods have a higher end, East Coast feel to them.
This is not to say that Mountain View doesn’t have some nice neighborhoods. I love the charming little houses around Castro Street, the town’s main drag. This street offers an incredible number of wonderful international restaurants and markets, great bookstores, and the acclaimed Mountain View Center for the Performing Arts
For those of you can’t afford the ante into Palo Alto, my guess is that Mountain View houses will weather any market downturn pretty well, especially with the number of large companies, such as Google and Alza, in town.
*This data was brought to you by Altos Research, another cool Silicon Valley start-up changing the way we shop for houses.