How is the Monte Sereno real estate market? Because the city is small, with just about 4000 residents, there usually are few homes listed for sale or selling, and with small numbers we can get seeming volatility.  Here are the quick statistics for the closed sales in August  2011 – please see my Monte Sereno Real Estate Report for more details (September’s numbers will be out in early October):

Trends At a Glance	Aug 2011	Previous Month	Year-over Year
Median Price	$1,660,740	$1,787,500 (-7.1%)	$2,330,000 (-28.7%)
Average Price	$1,660,740	$1,787,500 (-7.1%)	$2,330,000 (-28.7%)
No. of Sales	1	2 (-50.0%)	2 (-50.0%)
Pending Properties	4	4 (0.0%)	5 (-20.0%)
Active	12	10 (+20.0%)	27 (-55.6%)
Sale vs. List Price	97.7%	96.1% (+1.7%)	91.8% (+6.5%)
Days on Market	6	142 (-95.8%)	92 (-93.5%)

Now the trends are a little easier to spot – it is more clear that overall, Monte Sereno home prices are slipping compared to a year ago.  It is a very “cold” buyer’s market right now, especially in the more high end markets such as Monte Sereno which are not too close to the hotbed of IPO activity on The Peninsula.  (A lower average or median sales price does not always indicate that any particular property is losing value, but it does show what is selling.)  Now let’s see the graph of the “market barometer”.

Live Altos Charts for the Monte Sereno Real Estate Market

The median list price of all homes listed on the MLS in Monte Sereno and in San Jose – an interesting comparison!  San Jose has far fewer dips and jumps than Monte Sereno….

Pricing in Monte Sereno, California, by price quartile – the high end is taking a nose dive on its list pricing! First just the numbers, then the graphs:

Average days on market in Monte Sereno, CA, by price point – these are all pretty similar:

Inventory for all Monte Sereno listings over the last few years (back to 2005) – quite a jump in homes on the market in 2010 compared to normal for this small city:

About Monte Sereno, CA

Monte Sereno is a lscenic, upscale residential community of about 4000 people. It’s located adjacent to the town of Los Gatos and the city of Saratoga, California. There are no businesses in Monte Sereno – just Daves Avenue School, homes, the post office, and the city office building along Highway 9.  It is semi-rural. Some folks mistakenly think that whatever is happening in Los Gatos with the housing market is also reflective of the Monte Sereno real estate market. They are sometimes quite different, particularly as prices are higher in Monte Sereno and about 1/3 of Los Gatos is served by the Campbell or Union School Districts (while only a tiny sliver of MS is in those districts). A couple of years ago, I listed and sold a lovely home on in this city.  You can check out the information on my popehandy.com website (link above).

More info on this city: Official Monte Sereno city website Wikipedia article on Monte Sereno

Monte Sereno Real Estate

With very few exceptions, Monte Sereno consists of houses and estates or luxury homes (there are a few townhouses). Most lots are larger, usually at least a quarter acre lot.  One neighborhood enjoys a shared stable and horseback riding trails (those homes are on about 1/2 acre lots). As of this writing, properties currently available (listed on our MLS) range from about $1,300,000 to more than $5,000,000.  This can vary tremendously.  A move-in ready house will not likely be found in Monte Sereno for less than one million dollars.  (Last year a fixer on a busy road did sell for $750,000, though.) It is not uncommon to spend upwards of $1.5 million in home buying there.

Find Homes for Sale in Monte Sereno, California

Showing properties 1 - 5 of 7. See more city of Monte Sereno real estate.
(all data current as of 2/11/2012)

1. $4,575,000 : 18325 Lexington Dr, Monte Sereno
   
   5 beds, 5 full, 1 part baths

   Home size: 4,640 sq ft

   Lot size: 43,560 sq ft
   
2. $3,899,999 : 15981 Grandview Av, Monte Sereno
   
   6 beds, 3 full, 1 part baths

   Home size: 5,300 sq ft

   Lot size: 43,560 sq ft
   
3. $2,595,000 : 16131 Viewfield Rd, Monte Sereno
   
   4 beds, 3 full, 2 part baths

   Home size: 4,890 sq ft

   Lot size: 18,837 sq ft
   
4. $980,000 : 18788 Withey Rd, Monte Sereno
   
   3 beds, 2 full baths

   Home size: 1,937 sq ft

   Lot size: 1.03 ac
   
5. $1,498,500 : 17436 Pleasant View Av, Monte Sereno
   
   4 beds, 2 full baths

   Home size: 1,740 sq ft

   Lot size: 11,253 sq ft
   

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

Tags: homes for sale, house, houses, Los Gatos, Luxury Homes, market, Market Report, Monte Sereno, Real estate

This entry was posted on Sunday, September 18th, 2011 at 6:02 am and is filed under How's The Market?, Market Reports, Monte Sereno. 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.