The Los Gatos real estate market is mostly a warm seller’s market, though some segments are hot and others cool.
This post will include info from both Altos Research, which uses LIST prices, and the RE Report, which uses listing and closed sale data, for the “in town” areas of Los Gatos (95030 and 95032).
From ALTOS – a view of LG 95030 (they are updated automatically a few times a month):
The scenic Strathmore neighborhood of Los Gatos lies close to the foothills, including both Blossom Hill and the coastal range rising behind it. Homes here in east Los Gatos enjoy that very beautiful backdrop and access to the park and trails, but many other benefits too.
It’s a pedestrian friendly area with sidewalks and tree lined streets, so it is not uncommon to see people out enjoying a stroll, a jog, a bike ride or otherwise taking in the peaceful region.
Additionally, Strathmore residents share a community pool (or cabana) with a neighborhood swim team. As of 2019, dues for the HOA are approximately $400 per year.
One of the biggest draws of all is that on top of these features, kids in Strathmore get to attend highly rated public schools too. The profile on this neighborhood is overwhelmingly positive!
There’s a lovely neighborhood in west Los Gatos which is set between the La Rinconada Golf Course and the Rinconada Hills gated community (near the corner of Pollard and Quito Roads). There are 3 distinct subdivisons: Rio Rinconada (where all the roads are named “Calle” something), Saratoga Highlands (More Avenue, Roxbury Ln, Prince St., Mattson Ave., and part of Wedgewood Av), and a third area which seems to have no specific name but which is said to have been built by Thrust 4 and includes bigger, younger, more expensive homes on larger lots – many with 3 car garages and views.
The La Rinconada Park is one of the major draws to the neighborhood. Another is the very close proximity of a shopping center which includes a good sized Safeway, and an elementary and middle school close by too.
A few years back I wrote about these west Los Gatos subdivisions and the neighborhood generally on my Live in Los Gatos blog, and I also included a video “drive through” for those who’d like a really good feel for the area. Want more info? Please continue reading at Saratoga Highlands, Rio Rinconada, Granada Way and La Rinconada Park Neighborhood on Live in Los Gatos.
What do homes cost there?
Today we’re looking at the real estate market for houses in some of the “west valley” communities along the base of the Santa Cruz Mountains – areas where schools are good, crime is low, residents enjoy scenic views of the hills (or of the valley from the hills, depending on the location) and overall, a highly educated population not too far from Highway 85. This will be a real estate market comparison for Los Gatos, Saratoga, Cupertino, and Los Altos.
Of the four municipalities, three are really very similar to each other in several regards. Cupertino has the largest population – about 61,000 people – but Los Altos, Los Gatos and Saratoga are all similarly sized, somewhere between 31,000 residents. The latter three also enjoy a traditional “downtown” area which is popular with pedestrians, bicyclists and motorists alike. (Monte Sereno has under 4,000 residents, which is so small that the statistics are very easily thrown from month to month, so it is omitted in this quick study.) Of the four, Cupertino, then, is the least similar due to size and lack of a central downtown area for now. This may feel different once the Vallco Mall is redeveloped.
We’ll take a quick look at these areas now in terms of the real estate market trends and statistics for each area, considering just “class 1” (houses and duet homes). The charts used below are from Altos Research, to which I have a subscription, and they will be automatically updated each week.
Please note: the Los Gatos data is probably a little artificially low as it will include all 3 zip codes, meaning also the Los Gatos Mountains, which are quite a bit more affordable than the areas “in town”.
(1) Median List Price (per Altos Research):
What does it cost to buy a home in Los Gatos “with the schools” (as opposed to the Union School District or the Campbell School District areas)? In the last 90 days, 30 houses have sold in Los Gatos within the Los Gatos Union School District. The averages will give you some idea of pricing, but remember that the range is very broad! Disclaimers aside:
Average home size appx 2200 SF
Average lot size aboout 9500 SF
Average sales price appx $2,270,000
That’s not to say that you cannot purchase a house in town for quite a bit less! Here’s what has sold for UNDER $2,000,000 (17 homes in all):
At the far eastern edge of Los Gatos sits a welcoming neighborhood with three contiguous subdivisions: Belwood of Los Gatos, Belgatos, and Surmont. Adjacent to them is the stunning Belgatos Park and connected to it an expansive network of trails for people on foot, bike, or horseback (the Heinz Open Space Preserve plus the Sierra Azule and Shannon Valley trails, also nearby). At Blossom Hill Road and Harwood there is a friendly Walgreen’s, a Starbucks, a Valero gas station and mechanic, and many other worthwhile destinations.
For many Los Gatans, all three of these east Los Gatos areas (and sometimes a broader one still) are generally referred to as “Belwood” or “Belwood-Belgatos.” (The Los Gatos Monte Sereno Police cert map identifies the whole region plus the Strathmore neighborhood, which is across Blossom Hill Road, as “Belwood” generally.)
The terrain is nearly level, with very low, gentle hills over most of the area. With winding, mostly tree-lined roads and tidy houses, it’s a very attractive neighborhood overall. For those looking for an arduous climb on foot or bike, though, Harwood Road provides a nice challenge. At the top, you’ll see a fantastic view of downtown San Jose and Silicon Valley for your trouble. (There are some challenges to be found in the open space trails, too.)
Belgatos Park and the trails that connect to it are a big plus. It is located at 330 Belgatos Lane (at the end of Belgatos Road, off Blossom Hill Road) in east Los Gatos. It features a playground, hiking trails, open fields, picnic areas, fabulous views and restrooms.
Annual Real Estate Reports for Belwood of Los Gatos, Belgatos, and Surmont:
Drive through of Belwood of Los Gatos, Belgatos, Surmont, and more
Today we’ll check in with the Los Gatos real estate market, the Monte Sereno real estate market and the Los Gatos Mountains real estate market using Altos Research graphs with a view to the Median List Price of houses for sale. These charts are updated weekly.
An overview of the Real Estate Market in the Los Gatos area by viewing the Median List Price of houses for sale
In the graph below, please find the median list price for four areas: Monte Sereno, Los Gatos 95033 (the mountains), Los Gatos 95032 and Los Gatos 95030 (“in town”).
Monte Sereno is the most expensive of these four areas and it’s having some trouble overall. How’s it faring by price quartile? Let’s view that next, then the mountains and “in town” areas of Los Gatos.