Saratoga and Los Gatos are neighbors, but their real estate markets are not the same! Today we’ll consider the condo and townhouse market in these two upscale Silicon Valley areas and view some elements “side by side”. See what you think!

First, let’s have a peek at how fast things are selling. Saratoga & Los Gatos both are at under 3 week for the “days to sell over time”.  Saratoga tends to sell a little better than Los Gatos for condominiums and townhomes, and that’s the case now as well – at least months months, and recently. (Reasons, not sure – perhaps because the location is a little closer to Cupertino and Sunnyvale and the many high tech jobs there.  Or it could be related to the school scores or any number of factors.)

Saratoga days to sell over time 2014 - condos

Saratoga days to sell over time 2014 – condos

Los Gatos days to sell over time 2014 - condos

Los Gatos days to sell over time 2014 – condos

 

 

 

 

 

 

 

 

 

 

 

 

 

Let’s check some other criteria and see how they stack up there. Let’s look at the new listings as opposed to the solds.  How far apart are they? (The closer they are, the “hotter” the market. If the solds are going faster than the new listings are coming on, it’s a red hot seller’s market.)   For most of the last year, Saratoga condominiums have been selling and closing faster than new ones have entered the market, or have tied it, except for March and April.  In Los Gatos, same pattern recently of new listings outpacing sales, and in January the closed sales outpaced new inventory.  But overall, it’s close to a tie or there’s a slight leaning toward new listings rather than sales unless you look back to last fall.  So a little bit cooler of a market in Los Gatos by this standard.

Saratoga number of new listings vs sold

Saratoga number of new listings vs sold

Los Gatos New Listings vs Sold

Los Gatos New Listings vs Sold

 

 

 

 

 

 

 

 

 

 

 

 

 

And now, the average days on market (not the same as days to sell) and the average sale price to list price ratio for Saratoga and Los Gatos.  There are a lot of similarities to the ups and downs generally, but some pronounced differences too.  Perhaps most strikingly is the days on market (DOM for Saratoga condos and townhomes, which is just under 80 – perhaps 78 or so.  The average “days to sell” reflects homes that have closed, and how long they stayed on the market.  For Saratoga right now, rather than 78, the days to sell is a mere 13.  What does this mean?  It means that some homes sit on the market a very long time – while the successful ones are selling in 2 weeks or less.   Los Gatos is at 30 DOM and 18 days to sell – a little milder, but the exact same message: some homes are selling fast and others languish.  (Both have a SP to LP ratio of about 100% to 101%.)

Saratoga days on market and sale price to list price ratio - condos

Saratoga days on market and sale price to list price ratio – condos

Los Gatos days on market and sale price to list price ratio - condos

Los Gatos days on market and sale price to list price ratio – condos

 

 

 

 

 

 

 

 

 

 

 

 

 

 

And finally, prices – here are the brackets of pricing which are a very good indicator of what it costs to purchase a condominium or townhouse in Los Gatos or Saratoga.  Saratoga’s prices are in a wider band than Los Gatos’.  Why?  Again, it could be schools.  In Los Gatos, all of the elementary and middle schools are excellent, but there’s a noticeable difference between Westmont or Leigh and Los Gatos High.  In Saratoga, where all of the elementary schools are fantastic also, the gap at the high school level is considerably greater – Lynbrook and Saratoga High are far far higher scoring than Prospect.

Saratoga listings by price range Jan 1 - May 26 2014 - condos

Saratoga listings by price range Jan 1 – May 26 2014 – condos

Los Gatos listings by price range Jan 1 - May 26 2014 - condos

Los Gatos listings by price range Jan 1 – May 26 2014 – condos

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Naturally, this is an overview.  It could be different depending on views, lot size, schools, proximity to all sorts of things.   Next let’s look at the live Altos Charts for a little more information on the Los Gatos and Saratoga real estate market for condominiums and townhomes.

Altos Research Charts – The Los Gatos condo market at a glance:

For a simpler look, let’s see these “live” charts which update weekly.

Median list price of condos in Los Gatos over the last 3 years:

Medium Chart

II. Saratoga CA condo market

Median list price of condos in Saratoga over the last 3 years:

 

Medium Chart

 

The Real Estate Report for Los Gatos & Saratoga Condominiums and Townhomes

Below is the data from my Santa Clara County Real Estate Report for condos and townhouses in Los Gatos and Saratoga.  Please click on the respective links for the whole report – for the most current month and past months, quarters and years dating back a decade and more!!

The real estate market for Los Gatos condominiums & townhomes via the RE Report:

TRENDS AT A GLANCE OCT 2013 PREVIOUS MONTH YEAR-OVER YEAR
Median Home Price +33.9% $817,500 $610,325 +2.2% $800,000
Average Sales Price +36.4% $834,167 $611,560 +11.7% $747,071
No. of Homes Sold -40.0% 6 10 -14.3% 7
Pending Properties -33.3% 6 9 -70.0% 20
Foreclosures Sold N/A 0 0 N/A 0
Short Sales Sold N/A 0 0 N/A 0
Active Listings +33.3% 12 9 0.0% 12
Active Foreclosures N/A 0 0 N/A 0
Active Short Sales N/A 0 0 N/A 0
Sales Price vs. List Price +3.4% 102.8% 99.4% +2.9% 99.8%
Average Days on Market -56.9% 10 23 -34.4% 15

The real estate market for condos and townhomes in Saratoga, California via the Real Estate Report:

TRENDS AT A GLANCE OCT 2013 PREVIOUS MONTH YEAR-OVER YEAR
Median Home Price -9.7% $790,000 $875,000 +68.1% $470,000
Average Sales Price -7.2% $790,000 $851,667 +68.1% $470,000
No. of Homes Sold -33.3% 2 3 0.0% 2
Pending Properties 0.0% 5 5 -16.7% 6
Foreclosures Sold N/A 0 0 N/A 0
Short Sales Sold N/A 0 0 -100.0% 1
Active Listings -66.7% 1 3 -80.0% 5
Active Foreclosures N/A 0 0 N/A 0
Active Short Sales N/A 0 0 N/A 0
Sales Price vs. List Price -0.7% 99.2% 99.9% +0.6% 98.6%
Average Days on Market -58.3% 21 50 -62.8% 57

 

Looking to buy or sell in these areas but want more refined info by school district and price point?  Please contact me today!

Los Gatos:

  1. 4 beds, 3 full baths
    Home size: 2,122 sq ft
    Lot size: 2,221 sqft
  2. 3 beds, 2 full baths
    Home size: 1,218 sq ft
    Lot size: 2,657 sqft
  3. 3 beds, 3 full baths
    Home size: 2,450 sq ft
    Lot size: 2,700 sqft
  4. 3 beds, 2 full, 1 half baths
    Home size: 1,750 sq ft
    Lot size: 2,047 sqft
  5. 3 beds, 2 full baths
    Home size: 1,420 sq ft
    Lot size: 3,484 sqft
  6. 2 beds, 1 full bath
    Home size: 960 sq ft
    Lot size: 3,092 sqft
  7. 2 beds, 2 full baths
    Home size: 1,494 sq ft
    Lot size: 1,393 sqft
  8. 3 beds, 2 full, 1 half baths
    Home size: 1,800 sq ft
    Lot size: 5,967 sqft
  9. 3 beds, 2 full, 1 half baths
    Home size: 1,916 sq ft
    Lot size: 1,611 sqft
  10. 3 beds, 2 full, 1 half baths
    Home size: 2,230 sq ft
    Lot size: 1,524 sqft

See all Real estate in the Los Gatos/Monte Sereno community.
(all data current as of 5/24/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Saratoga:

  1. 3 beds, 2 full, 1 half baths
    Home size: 2,320 sq ft
    Lot size: 1.20 ac
  2. 4 beds, 3 full, 1 half baths
    Home size: 2,335 sq ft
    Lot size: 1.20 ac
  3. 3 beds, 2 full, 1 half baths
    Home size: 2,320 sq ft
    Lot size: 1.20 ac

See all Real estate in the city of Saratoga.
(all data current as of 5/24/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Translation

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Mary Pope-Handy
Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805


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