Bay Area REBlog

Below is a chart showing single family home sales in all of Mountain View, CA for the months of May, June and July 2007 & 2008. You will notice straight away that our inventory is much higher this year than last…and while the average sales prices remain almost unchanged, the median sales price is well down on the previous year. It took a lot longer to sell a home in May and June of ‘08, but July 2008, the CDOM (continuous days on market) was only 16. The percentage of list price received column shows that homes are still selling for a little above asking price.  Hopefully this is the start of good things to come – typically the market picks up well after the Labor Day weekend. With a strong inventory of 71 homes to choose from at the moment, it’s a great time to buy!

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