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):
And 95032:
As of March 3rd, 95030 is at a slight seller’s advantage and 95032 is a strong seller’s market. Both have been this way for a few months now. Inventory is beginning to rise again after a strong drop, which is a normal trend for this time of the year. Surprisingly, days on market are lower in 95030 than in 95032, a marker which usually indicates a stronger market.
Now for the current numbers, per my Los Gatos real estate report (click on the link for full information).
The Los Gatos Mountains are a distinctly different market and as such are covered in a separate market update, updated less frequently than here, but with live Altos charts for that area.
Los Gatos Trends at a Glance
Usually during winter the market is generally cooler – home sales are fewer and slower, and prices are a bit softer. So far this season, the market in Los Gatos 95030 and 95032 has been relatively stable. Active, pending, and sold listings are all up from last month, though not what they were this same time last year. Prices have seen a boost, too, and the sale to list price ratio is up more than 2.5% since last month at a whopping 102.8% of list! Demand appears to be high, and overall it seems to be a warming seller’s market.
| Trends At a Glance | Feb 2020 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $2,150,000 (+4.9%) | $2,050,000 | $2,499,000 (-14.0%) |
| Average Price | $2,275,070 (+3.5%) | $2,198,850 | $2,674,240 (-14.9%) |
| No. of Sales | 14 (+7.7%) | 13 | 25 (-44.0%) |
| Pending | 28 (+115.4%) | 13 | 29 (-3.4%) |
| Active | 45 (+32.4%) | 34 | 53 (-15.1%) |
| Sale vs. List Price | 102.8% (+2.6%) | 100.2% | 101.5% (+1.4%) |
| Days on Market | 41 (+52.6%) | 27 | 23 (+81.1%) |
| Days of Inventory | 90 (+14.7%) | 78 | 57 (+57.2%) |
And from last month:
| Trends At a Glance | Jan 2020 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $2,050,000 (-1.2%) | $2,075,000 | $2,440,000 (-16.0%) |
| Average Price | $2,198,850 (-13.6%) | $2,545,930 | $2,644,590 (-16.9%) |
| No. of Sales | 13 (-53.6%) | 28 | 14 (-7.1%) |
| Pending | 13 (-23.5%) | 17 | 27 (-51.9%) |
| Active | 34 (+36.0%) | 25 | 42 (-19.0%) |
| Sale vs. List Price | 100.2% (+1.2%) | 99.1% | 96.8% (+3.5%) |
| Days on Market | 27 (-36.3%) | 43 | 62 (-55.9%) |
| Days of Inventory | 78 (+192.9%) | 27 | 90 (-12.8%) |
Los Gatos Condominium and Townhouse Market
Moving on to condos, here are the live Altos Research charts with listings data.
95030
95032:
Trends at a Glance: condos and townhomes in Los Gatos
Prices are heating up and inventory is on the rise in the condo sector of Los Gatos. But with small pools of data, the condo market can show much more dramatic swings than the housing market. The sale to list price ratio jumped to 102.5% last month, and has kept close to 100% for a long while. Days on market don’t stray far from one month, meaning this market has a stable demand and remains in the seller’s advantage.
| Trends At a Glance | Feb 2020 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,275,000 (+10.9%) | $1,150,000 | $1,154,400 (+10.4%) |
| Average Price | $1,254,290 (+5.8%) | $1,185,560 | $1,117,880 (+12.2%) |
| No. of Sales | 7 (0.0%) | 7 | 5 (+40.0%) |
| Pending | 6 (+20.0%) | 5 | 5 (+20.0%) |
| Active | 6 (+200.0%) | 2 | 17 (-64.7%) |
| Sale vs. List Price | 102.5% (+4.4%) | 98.1% | 98.1% (+4.5%) |
| Days on Market | 25 (-23.2%) | 32 | 30 (-18.1%) |
| Days of Inventory | 24 (+180.0%) | 9 | 92 (-73.9%) |
And from last month:
| Trends At a Glance | Jan 2020 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,150,000 (+5.5%) | $1,090,000 | $973,000 (+18.2%) |
| Average Price | $1,185,560 (+11.4%) | $1,064,200 | $1,061,500 (+11.7%) |
| No. of Sales | 7 (+40.0%) | 5 | 4 (+75.0%) |
| Pending | 5 (-16.7%) | 6 | 4 (+25.0%) |
| Active | 2 (-33.3%) | 3 | 9 (-77.8%) |
| Sale vs. List Price | 98.1% (-3.0%) | 101.1% | 97.5% (+0.7%) |
| Days on Market | 32 (+8.1%) | 30 | 70 (-54.4%) |
| Days of Inventory | 9 (-52.4%) | 18 | 68 (-87.3%) |
Monte Sereno
Monte Sereno Trends at a Glance
Each month there are very few sales in Monte Sereno, and for that reason the data can be a bit wonky (view the Monte Sereno Real Estate Report for more). For instance, the January 2020 data only had 1 sale, and the January 2019 data has none. Often it’s best to also see how Los Gatos and Saratoga are doing and extrapolate from there, plus study the homes that are and are not selling in Monte Sereno. That said, the sales to list price ratio has remained just shy of 100% for months, indicating properties are selling close to list price.
This February, however, we can see inventory is growing. The sale to list price ratio has lept to a massive 105.9% – since only two properties sold during this time, we can guess that they probably both sold well over list price!
| Trends At a Glance | Feb 2020 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,828,000 (-16.9%) | $2,200,000 | $2,675,000 (-31.7%) |
| Average Price | $1,828,000 (-16.9%) | $2,200,000 | $2,675,000 (-31.7%) |
| No. of Sales | 2 (+100.0%) | 1 | 2 (0.0%) |
| Pending | 0 (-100.0%) | 1 | 0 (N/A) |
| Active | 8 (+60.0%) | 5 | 6 (+33.3%) |
| Sale vs. List Price | 105.9% (+8.3%) | 97.8% | 97.3% (+8.8%) |
| Days on Market | 32 (+540.0%) | 5 | 8 (+300.0%) |
| Days of Inventory | 112 (-25.3%) | 150 | 81 (+38.3%) |
And from last month:
| Trends At a Glance | Jan 2020 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $2,200,000 (-6.9%) | $2,362,500 | $0 (N/A) |
| Average Price | $2,200,000 (-33.4%) | $3,301,250 | $0 (N/A) |
| No. of Sales | 1 (-75.0%) | 4 | 0 (N/A) |
| Pending | 1 (0.0%) | 1 | 1 (0.0%) |
| Active | 5 (0.0%) | 5 | 3 (+66.7%) |
| Sale vs. List Price | 97.8% (-2.1%) | 99.9% | 0.0% (N/A) |
| Days on Market | 5 (-77.0%) | 22 | 0 (N/A) |
| Days of Inventory | 150 (+300.0%) | 38 | 0 (N/A) |
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 Median Price Graph:
Generally this area has a lower price range than in 95030, but you can see in early 2020 that that’s not always the case.
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.
If Los Gatos & Monte Sereno are too expensive…
Cambrian Park area of San Jose – Looking for more affordable area close to Monte Sereno and Los Gatos? Check out the Cambrian Park area of San Jose, especially the 95124 zip code (with Union Schools).Cambrian area of San Jose – condos and townhomes. I also update a market post on this blog monthly for this San Jose neighborhood, titled The Cambrian Park Real Estate Market Update which can be found through the link.
Houses for sale in Los Gatos & Monte Sereno 95030:
https://idx.diversesolutions.com/link/472470
Houses for sale in Los Gatos & Monte Sereno 95032:
https://idx.diversesolutions.com/link/472471
Right now, Monte Sereno has no condos or townhomes within its boundaries, but may in the future.
Condos and townhomes for sale in Los Gatos:
https://idx.diversesolutions.com/link/472472
More info on Los Gatos Homes for Sale, too.
Read more about Los Gatos real estate on my other sites and blogs, too, including popehandy.com:
Los Gatos real estate market trends
Do you love Los Gatos, live there now or want to live there? Please also visit the Live in Los Gatos Blog!
A good place to begin is this article on that site: Where is Los Gatos California?
Learn about Los Gatos neighborhoods, see photos, videos, pricing information, age of homes and much more! Get frequent Los Gatos real estate market updates, find out about local events, business, see images of the parks, historic buildings, and get to know Los Gatos even better. “Live in Los Gatos” is an award winning blog, also written by local Los Gatos Realtor and resident Mary Pope-Handy – check it out today!
