Housing developments advance amid hot market and new listings [developing]
Key Questions
How is the Silicon Valley housing market performing?
The spring market is gaining momentum, with Zillow reporting +4.6% pending sales YoY in March. Mountain View median sold for $3.04M at 107% of list price.
When does Shake Shack open its first Mountain View location?
Shake Shack opens its first location in Mountain View on April 9 at Village San Antonio, with a charity tie-in.
What housing project did MV Council approve?
The Council approved 140 condos at Fairmont/Castro by a 4-2 vote on April 28. Diamond/AvalonBay/East Whisman projects also advanced.
What regional housing plans are underway?
Palo Alto plans 1,500-7,400 units around San Antonio near MV border. Cupertino denied Mary Ave affordable housing.
How is the South Bay office market rebounding?
Tech and AI leasing surges, including OpenAI's Ellis St lease, are driving the rebound.
Are Bay Area homes selling above asking?
Yes, more homes are selling above asking, especially luxury $20M+ in Atherton with multiple offers. The market remains strong despite national uncertainty.
What state law affected Sunnyvale housing?
State law forced Sunnyvale to approve a housing development in east Sunnyvale despite council preferences.
How is the overall California housing market?
California outperforms the US with fewer stale listings at 52.2%, maintaining resilience amid rising costs and downsizing trends.
SV spring market gaining (Zillow Mar +4.6% pending YoY; MV Mar $3.04M 107% list). Shake Shack first MV opens Apr9 Village San Antonio (charity tie-in). MV Council 4-2 approves Fairmont/Castro 140 condos Apr28; Diamond/AvalonBay/East Whisman approvals. Regional: Palo Alto San Antonio 1,500-7,400 units MV border; OpenAI Ellis St lease office rebound; Cupertino denies Mary Ave affordable.