As many of us know, the real estate market in the Silicon Valley is hot, and continues to be so.
The charts below illustrate what we've been seeing in the last 12 months in the condo and townhouse market in Mountain View.
Months of inventory for the last 3+ years has been low, and continues its downward trend.
Mountain View condos and townhouses sell quickly and well, and proper pricing, preparation, marketing, and knowing how to reach your target buyer demographic can produce stellar results.
While the average sale price to list price ratio was 101.7%, my recent seller received 107.8%. Is that result typical? As the statistics show, no. Is it possible? Yes.
--- Come for a visit; Stay for a lifetime!
Lottie Kendall, Realtor®
Today | Sotheby's International Realty
San Carlos, California, 94070
CA BRE#01215160; 650-465-4547
That indeed is a very hot market and if people are willing to pay more than asking price, I doubt the sellers mind at all, haha.
Hi Lottie
Buyers really need to understand how competitive your market is, and to work with someone like yourself who can help them navigate through the process. Our inventory is like yours but our average SP/LP ratio is not quite as high, typically more like 98 or 99% with 20-40% of the homes typically selling at and above asking.
Jeff
Good morning Lottie Kendall Thanks for sharing your local real estate market
When sellers make 7% more on their properties, it's as though they are not paying any closings costs or any commissions to sell; it's a free sale. Kudos to you, Lottie, for selling that home for so much more than market value. That's what full-service agents do.
I also see a market in Mountain View that looks pretty good to me, from my agent eyes. Slightly over list price is not a terrible market to buy in. Buyers have a few weeks to buy a home instead of hours.
Good Morning Lottie - buyers and seller can argue to the facts. They will need to to navigate toward their goal.
Lottie, your market is HOT, and buyers and sellers would be wise to contact you for your expertise!
Lottie
Look at number for Mountain View Califorina . . . . the real estate market is red hot.
Good luck and success.
Lou Ludiwg