The Los Gatos real estate market is up about 10% year over year, but down even more month over month. Homes are flying off the market, even if prices aren’t up – for houses sold, the “days on market” was a mere 17 in May!  Here are the current numbers, per my Los Gatos real estate report (click on the link for full information).

TRENDS AT A GLANCE	MAY 2013		PREVIOUS MONTH	YEAR-OVER YEAR
Median Home Price	-13.2%	$1,380,000	$1,590,000	+10.4%	$1,250,000
Average Sales Price	-12.2%	$1,559,960	$1,775,750	+3.6%	$1,506,100
No. of Homes Sold	+5.1%	41	39	+5.1%	39
Pending Properties	+10.9%	51	46	-17.7%	62
Foreclosures Sold	-100.0%	0	1	N/A	0
Short Sales Sold	0.0%	1	1	-50.0%	2
Active Listings	-6.0%	63	67	-37.0%	100
Active Foreclosures	N/A	0	0	-100.0%	3
Active Short Sales	N/A	0	0	-100.0%	6
Sales Price vs. List Price	+2.4%	104.1%	101.7%	+5.5%	98.7%
Average Days on Market	-50.6%	17	34	-59.6%	41

and April 2013:

TRENDS AT A GLANCE	APR 2013		PREVIOUS MONTH	YEAR-OVER YEAR
Median Home Price	+8.3%	($1,590,000)	$1,467,500	+17.8%	($1,350,000)
Average Sales Price	+18.8%	($1,775,750)	$1,495,170	+24.0%	($1,431,940)
No. of Homes Sold	+62.5%	(39)	24	0.0%	(39)
Pending Properties	+2.2%	(46)	45	-17.9%	(56)
Foreclosures Sold	0.0%	(1)	1	-66.7%	(3)
Short Sales Sold	N/A	(1)	0	-66.7%	(3)
Active Listings	-5.6%	(67)	71	-18.3%	(82)
Active Foreclosures	-100.0%	(0)	1	-100.0%	(82)
Active Short Sales	N/A	(0)	0	-100.0%	(7)
Sales Price vs. List Price	+2.0%	(101.7%)	99.7%	+2.1%	(99.6%)
Average Days on Market	-0.8%	(34)	(34)	-6.6%	(36)

The Los Gatos condo and townhouse market is also off month over month, but up even more than the single family homes year over year (12.4 % vs about 10%).  Homes selling way more than 100% of list price!  Great time to sell a Los Gatos condo and “move up” to a single family home or house now.

TRENDS AT A GLANCE	MAY 2013		PREVIOUS MONTH	YEAR-OVER YEAR
Median Home Price	-8.6%	$740,500	$810,000	+12.4%	$659,000
Average Sales Price	-2.2%	$704,501	$720,556	+7.0%	$658,441
No. of Homes Sold	+77.8%	16	9	-5.9%	17
Pending Properties	-26.7%	11	15	-42.1%	19
Foreclosures Sold	N/A	0	0	-100.0%	1
Short Sales Sold	N/A	0	0	N/A	0
Active Listings	+27.3%	14	11	+27.3%	11
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%	104.7%	101.2%	+6.0%	98.8%
Average Days on Market	-10.7%	13	14	-83.3%	76

and April:

TRENDS AT A GLANCE	APR 2013		PREVIOUS MONTH	YEAR-OVER YEAR
Median Home Price	+32.8%	($810,000)	$610,000	+31.5%	($616,000)
Average Sales Price	+12.1%	($720,556)	$642,545	+20.8%	($596,557)
No. of Homes Sold	-18.2%	(9)	11	-18.2%	(11)
Pending Properties	+66.7%	(15)	9	-40.0%	(25)
Foreclosures Sold	N/A	(0)	0	-100.0%	(2)
Short Sales Sold	-100.0%	(0)	2	-100.0%	(1)
Active Listings	+57.1%	(11)	7	0.0%	(11)
Active Foreclosures	N/A	(0)	0	N/A	(11)
Active Short Sales	N/A	(0)	0	N/A	(0)
Sales Price vs. List Price	-4.3%	(101.2%)	105.8%	+3.2%	(98.1%)
Average Days on Market	-75.4%	(14)	(58)	-77.5%	(63)

Other nearby market reports along Silicon Valley’s west side:

Los Gatos Mountains (houses only, no condos or townhouses there) – stronger market. Why? Possibly because it’s more affordable. Across the board, the most affordable areas in Santa Clara County are selling the best.

TRENDS AT A GLANCE	MAY 2013		PREVIOUS MONTH	YEAR-OVER YEAR
Median Home Price	+13.5%	$839,450	$739,500	+39.9%	$600,000
Average Sales Price	-22.8%	$776,270	$1,004,960	+12.1%	$692,353
No. of Homes Sold	+100.0%	12	6	-29.4%	17
Pending Properties	-16.7%	15	18	+66.7%	9
Foreclosures Sold	N/A	0	0	-100.0%	4
Short Sales Sold	N/A	0	0	-100.0%	1
Active Listings	+8.0%	27	25	-25.0%	36
Active Foreclosures	N/A	1	0	-66.7%	3
Active Short Sales	N/A	1	0	-66.7%	3
Sales Price vs. List Price	-1.6%	97.6%	99.2%	-3.5%	101.2%
Average Days on Market	-45.3%	24	44	-68.4%	76

and April

TRENDS AT A GLANCE	APR 2013		PREVIOUS MONTH	YEAR-OVER YEAR
Median Home Price	-7.4%	($739,500)	$799,000	+11.6%	($662,500)
Average Sales Price	+38.8%	($1,004,960)	$723,800	+70.4%	($589,750)
No. of Homes Sold	+20.0%	(6)	5	+50.0%	(4)
Pending Properties	+38.5%	(18)	13	+12.5%	(16)
Foreclosures Sold	N/A	(0)	0	N/A	(0)
Short Sales Sold	N/A	(0)	0	N/A	(0)
Active Listings	+13.6%	(25)	22	-32.4%	(37)
Active Foreclosures	-100.0%	(0)	1	-100.0%	(37)
Active Short Sales	N/A	(0)	0	-100.0%	(3)
Sales Price vs. List Price	-2.3%	(99.2%)	101.6%	+8.3%	(91.6%)
Average Days on Market	+196.1%	(44)	(15)	-76.9%	(190)

Monte Sereno (houses only – small area so prices appear to jump around more due to few transactions each month)

TRENDS AT A GLANCE	MAY 2013		PREVIOUS MONTH	YEAR-OVER YEAR
Median Home Price	-12.1%	$2,100,000	$2,389,000	-15.8%	$2,495,000
Average Sales Price	-13.2%	$2,179,000	$2,509,400	-8.2%	$2,374,330
No. of Homes Sold	0.0%	5	5	+66.7%	3
Pending Properties	-33.3%	6	9	-25.0%	8
Foreclosures Sold	N/A	0	0	N/A	0
Short Sales Sold	N/A	0	0	N/A	0
Active Listings	+50.0%	21	14	+75.0%	12
Active Foreclosures	N/A	0	0	N/A	0
Active Short Sales	N/A	1	0	N/A	0
Sales Price vs. List Price	-2.0%	98.6%	100.6%	-1.4%	100.0%
Average Days on Market	+46.6%	30	21	-13.7%	35

and

TRENDS AT A GLANCE	APR 2013		PREVIOUS MONTH	YEAR-OVER YEAR
Median Home Price	+43.5%	($2,389,000)	$1,665,000	+77.6%	($1,345,000)
Average Sales Price	+19.2%	($2,509,400)	$2,105,900	+31.3%	($1,911,670)
No. of Homes Sold	0.0%	(5)	5	-16.7%	(6)
Pending Properties	+12.5%	(9)	8	+125.0%	(4)
Foreclosures Sold	N/A	(0)	0	N/A	(0)
Short Sales Sold	N/A	(0)	0	N/A	(0)
Active Listings	+55.6%	(14)	9	+7.7%	(13)
Active Foreclosures	N/A	(0)	0	N/A	(13)
Active Short Sales	N/A	(0)	0	-100.0%	(1)
Sales Price vs. List Price	-1.7%	(100.6%)	102.3%	+4.6%	(96.1%)
Average Days on Market	+55.9%	(21)	(13)	-75.6%	(84)

Looking for more affordable area close to Los Gatos? Check out the Cambrian Park area of San Jose, especially the 95124 zip code (with Union Schools).

Cambrian Park area of San Jose - houses

Cambrian area of San Jose - condos and townhomes

Next we’ll have a quick look at the town by zip code and will use Altos Research charts and graphs (using list prices, not sold ones) to get a pulse on the market.  Disclaimers aside, here’s the broad overview by zip code – hope you find this helpful!  I will be using “live charts” here so they will always be current!

95030 stats:

90-day stats for Single Family properties in LOS GATOS, CA 95030 as of June 14, 2013
Median List Price:	$2,621,895	Average List Price:	$3,432,977
Total Inventory:	39	Price per Square Foot:	$764
Average Home Size:	3,522	Median Lot Size:	10,450
Average # Beds:	4.17	Average # Baths:	3.52
Homes Absorbed:	4	Newly Listed:	4
Days on Market:	159	Average Age:	44

 

 

Continue via link for more information on Los Gatos real estate trends and statistics.

95032 residential real estate statistics:

90-day stats for Single Family properties in LOS GATOS, CA 95032 as of June 14, 2013
Median List Price:	$1,844,722	Average List Price:	$2,682,921
Total Inventory:	57	Price per Square Foot:	$658
Average Home Size:	2,912	Median Lot Size:	10,727
Average # Beds:	4.21	Average # Baths:	3.37
Homes Absorbed:	8	Newly Listed:	8
Days on Market:	114	Average Age:	37

And a look at Los Gatos “in town” as a whole:

90-day stats for Single Family properties in LOS GATOS, CA as of June 14, 2013
Median List Price:	$1,576,654	Average List Price:	$2,384,314
Total Inventory:	155	Price per Square Foot:	$614
Average Home Size:	2,796	Median Lot Size:	10,663
Average # Beds:	3.90	Average # Baths:	3.10
Homes Absorbed:	19	Newly Listed:	17
Days on Market:	160	Average Age:	40

 

95033 (Los Gatos Mountains) real estate info:

90-day stats for Single Family properties in LOS GATOS, CA 95033 as of June 14, 2013
Median List Price:	$868,129	Average List Price:	$1,402,480
Total Inventory:	58	Price per Square Foot:	$410
Average Home Size:	2,276	Median Lot Size:	11,912
Average # Beds:	3.41	Average # Baths:	2.57
Homes Absorbed:	6	Newly Listed:	5
Days on Market:	206	Average Age:	38

 

 

 

Monte Sereno shares many services with LG so I will share these stats also:

90-day stats for Single Family properties in MONTE SERENO, CA 95030 as of June 14, 2013
Median List Price:	$3,280,654	Average List Price:	$4,010,092
Total Inventory:	16	Price per Square Foot:	$782
Average Home Size:	4,176	Median Lot Size:	13,465
Average # Beds:	4.54	Average # Baths:	3.91
Homes Absorbed:	2	Newly Listed:	2
Days on Market:	53	Average Age:	28

 

Los Gatos is a very complex real estate market because there are so many variables, including:

• proximity to downtown (“walk to town” always a huge plus)
• school district (“Los Gatos Schools” usually strongly preferred)
• historic nature of homes & neighborhoods
• slope and usability of the land
• views
• neighborhood amenities (cabana, nearby park, walkability)
• access to popular venues and locations (parks, shopping, schools)
• negative features such as busy roads, high voltage lines, being too close to freeways/trains, natural hazards such as earthquake faults etc.
• type of sale (distressed or regular sale)

Often homes in Los Gatos will have some positive and some negative features, and the same goes for the location.

Tags: 95030, 95032, 95033, Los Gatos, Los Gatos Mountains, market, Market Report, market trends, Monte Sereno, Real estate

This entry was posted on Sunday, June 9th, 2013 at 7:54 am and is filed under How's The Market?, Los Gatos, Market Reports. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.