What could you get in Mt. View for $1M in June 2013!?

Image representing Google as depicted in Crunc...

Image via CrunchBase

With Google as it’s most famous resident and success of the movie Internship, we wanted to know what you could in Mt. View for $1M in last month. The sales data for June 2013 shows 18 properties were sold in the range of $800-1.5M. We will also be writing more about the Foreclosure Activity in Mountain View in June 2013 to help our investors chart a strategy for buying in Mt. View.

But let’s examine what happened at the top end of the market in Mt. View during June 2013 :

List Price Range : $898,000 to $1,500,000

Sold Price Range: $1,010,000 to $1,500,000

1) Average List Price Per Sqft: The price per square feet for these 18 sales in Mt View were $569.27.

2) Average Size: The average of home size for these sales was 1,891 square feet in size.

3) Average Sale Price: The Average Sale price of these 5 homes was $1,140,000 which is still cheaper than homes in other Silicon Valley cities including Los Gatos, Los Altos, Los Altos Hills

4)Days on the market: These 18 homes sold in Mt. View sold between 2-28 days which is remarkably quick given the sold price of these homes. Needless to say the homes that are closing in less than 10 days are typically cash purchases since no lender is approving loans in one week these days.

5) Sale Price Per Sqft: These Mt. View homes sold for $605.96 per sqft which is a good indication of a sellers market since they are getting more than 100% of their list price.

So the answer to the question what you could get for $1 Million dollars in Mt. View is an average size home with 1,891 square feet.

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