As of today, March 13, 2023, the Los Gatos real estate market in 95030 & 95032 is generally warming up, but it varies between school districts. for these first days in March, home sales in areas with Los Gatos High are selling for more than they did in February and at a higher sale price to list price ratio than in February. The opposite is true for homes in the Westmont and Leigh areas. That said, we are not even halfway through March, so this could certainly change. (No charts for this – just my comments.)
If you are looking for Los Gatos Mountains 95033 real estate market data, please click on the link as it has its own article.
Stats from the MLS for Los Gatos 95030 and Los Gatos 95032
Here is some Los Gatos real estate market data that I pulled directly from the MLS today.
Number of listings versus sales in LG 95030 and 95032
This is supply and demand in a nutshell: when the rate of sales outpaces listings, it’s a hot market – as we had in early 2022. When the available listings far outpace the number of sales, it’s either not so hot or it’s downright cool (as with a very large gap – see June 2022 as a great example).
Average sale price of homes sold in Los Gatos 95030 & 95032 – Los Gatos house prices
The numbers really jump around a bit in Los Gatos. Los Gatos single family home prices aren’t quite that volatile. What can happen is that in one month, there may be more sales in one school district, home size, or price point than in another. If one month a high proportion of entry level homes sell in a less expensive school district, and the next month a lot of properties sold in a more expensive area with larger homes, it will jump.
Home prices appear to be moving up in March as compared to February, but still much lower than a year ago for both Feb and March so far.
If you click on the image below, it will open in a new window and be larger and easier to read.
Altos Research Charts
From ALTOS – a view of LG 95030 (these are updated automatically each week). Altos uses LIST prices and active listing data. Of interest is comparing the 87 days on market for the active listings in 95030 and 76 in 95032 compared with the 30 days to sell for homes that did sell and close escrow (in the RE Report below). These are not by school district, but nearly all of 95030 has Los Gatos Schools while only about 1/3 of 95032 does.
And 95032:
Now for the current numbers, per my real estate report (click on the link for full information).
Los Gatos Real Estate Market Trends at a Glance: Los Gatos 95030 & 95032
The numbers below analyze data gathered during the first week of each month and cover real estate statistics from the month prior in Los Gatos 95030 & 95032 (all areas / school districts), or MLS “area 16”. See the full RE Report here.
Disclaimer: The RE Report numbers this month are quite different from the MLS stats that I pulled directly.
| Trends At a Glance | Feb 2023 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $2,680,000 (-24.5%) | $3,550,000 | $3,780,000 (-29.1%) |
| Average Price | $2,957,920 (-12.1%) | $3,364,740 | $4,093,120 (-27.7%) |
| No. of Sales | 10 (-41.2%) | 17 | 16 (-37.5%) |
| Pending | 52 (+40.5%) | 37 | 53 (-1.9%) |
| Active | 32 (+18.5%) | 27 | 18 (+77.8%) |
| Sale vs. List Price | 102.4% (+2.1%) | 100.3% | 113.5% (-9.8%) |
| Days on Market | 40 (-32.9%) | 60 | 12 (+232.4%) |
| Days of Inventory | 86 (+81.3%) | 48 | 30 (+184.4%) |
Los Gatos real estate market for condominium and townhouse homes:
Moving on to condos, here are the live Altos Research charts with listings data.
95030:
95032:
The Los Gatos condo and townhouse market continues to weaken. Buyers, if you are waiting for a “good opportunity” market, this is it.
Los Gatos real estate market for condos and townhomes
The condo market was cool in February with 135 days of inventory – far too many homes for sale (15) compared to the number which are selling (3) in February.
Trends at a Glance
| Trends At a Glance | Feb 2023 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $711,000 (-31.6%) | $1,040,000 | $1,453,000 (-51.1%) |
| Average Price | $1,020,330 (-1.9%) | $1,040,000 | $1,384,130 (-26.3%) |
| No. of Sales | 3 (+50.0%) | 2 | 15 (-80.0%) |
| Pending | 19 (+111.1%) | 9 | 11 (+72.7%) |
| Active | 15 (0.0%) | 15 | 14 (+7.1%) |
| Sale vs. List Price | 99.4% (+0.4%) | 99.0% | 105.9% (-6.1%) |
| Days on Market | 25 (-49.5%) | 50 | 24 (+4.7%) |
| Days of Inventory | 135 (-40.0%) | 225 | 25 (+435.7%) |
Monte Sereno
Monte Sereno – this is a small area, surrounded on most sides by the Town of Los Gatos, but also bordering County and Saratoga land. Monte Sereno’s home values are higher, and the luxury tier generally does not sell as fast or as strong as more moderately priced areas in Silicon Valley. With few sales each month, prices and trends for this city can appear to jump around wildly. 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.
Take a closer look in my latest monthly market updates on the Monte Sereno market over at the Live In Los Gatos blog (usually updated before this article, but not always), or here at the Valley of Heart’s Delight blog at The Monte Sereno Real Estate Market (usually updated after this article). Here’s the quick chart from the RE Report.
In December there were no sales, in January there were 5, and in February there were 0. This is a fairly stalled out market.
Trends at a Glance
| Trends At a Glance | Feb 2023 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $0 (-100.0%) | $3,250,000 | $0 (N/A) |
| Average Price | $0 (-100.0%) | $3,386,120 | $0 (N/A) |
| No. of Sales | 0 (-100.0%) | 5 | 0 (N/A) |
| Pending | 5 (+66.7%) | 3 | 9 (-44.4%) |
| Active | 6 (+50.0%) | 4 | 4 (+50.0%) |
| Sale vs. List Price | 0.0% (-100.0%) | 97.4% | 0.0% (N/A) |
| Days on Market | 0 (-100.0%) | 51 | 0 (N/A) |
| Days of Inventory | 0 (-100.0%) | 24 | 0 (N/A) |
And the month before:
| Trends At a Glance | Jan 2023 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $3,250,000 (N/A) | $0 | $4,525,000 (-28.2%) |
| Average Price | $3,386,120 (N/A) | $0 | $7,166,000 (-52.7%) |
| No. of Sales | 5 (N/A) | 0 | 4 (+25.0%) |
| Pending | 3 (-40.0%) | 5 | 3 (0.0%) |
| Active | 4 (-42.9%) | 7 | 4 (0.0%) |
| Sale vs. List Price | 97.4% (N/A) | 0.0% | 109.7% (-11.2%) |
| Days on Market | 51 (N/A) | 0 | 95 (-46.5%) |
| Days of Inventory | 24 (N/A) | 0 | 30 (-20.0%) |
Generally this area has a lower price range than in 95030, at any given point in time it could vary.
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)
Like anywhere else, homes in Los Gatos will have some positive and some negative features, and so will each location.
Los Gatos real estate market: What’s for sale now?
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, including popehandy.com: LG 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 the Town 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!
