The Monte Sereno real estate market is similar to Los Gatos, but distinct - Monte Sereno shares many features with Los Gatos but is a distinct cityHow is the Monte Sereno real estate market? Because the city is small, with just about 3,500 residents, there usually are few homes listed for sale or selling, and with small numbers we can get seeming volatility. This article is updated monthly with new data and analysis, so scroll down to read the latest and check back regularly. Here are a few details from the latest market update:

  • With so few sales and listings, Monte Sereno real estate data can swing quite wildly in the charts below so take it with a grain of salt.
  • This city appears to be in a seller’s market with severely low inventory, just 3 available homes at the end of April. That’s slim pickings!
  • There were just 4 closed and 3 pending sales last month.
  • The sale to list price ratio remained over 100% with the average Monte Sereno property selling over asking price and quickly, in under 2 weeks

There are ALMOST no condominiums or townhomes in Monte Sereno. As of Febuary 2024, the MLS showed just 6 sales in these two categories in total – and that’s going back to 1998! And one of those, at least, appears to actually be in Los Gatos. One of the major challenges for this city is to ensure that at least some housing units are deemed “affordable.” You can find the city’s housing plan here (an online pdf):  http://www.montesereno.org/DocumentCenter/Home/View/674

Because this is such a small city and there’s a tiny pool of data, please also have a look at the Los Gatos real estate market post on this site.

Below is a quick market profile for the Monte Sereno real estate market. This is updated automatically weekly, so please check back often.

 

Monte Sereno Altos Real-Time Market Profile

Altos Research does weekly reports on the Monte Sereno real estate data, to which we subscribe. You can see the full weekly report for Monte Sereno HERE, and if you’d like to get weekly updates in your inbox can click the subscribe button (you can also navigate to another zip code or city and subscribe to that as well). Here’s the data on home descriptions per price quartile in the report, updated automatically throughout the month:

Median List Price for Monte Sereno By Altos

 

Stats for recently closed home sales in Monte Sereno

Here are the quick statistics for the closed sales in the last calendar month to give a sense of how things are going with the Monte Sereno realty market. Given that the supply of homes and sales to study is tiny, what can we tell from this data?

Certain trends are still visible. It’s true that an average Monte Sereno house has moved closer to $4 – $5 million over the last couple of years and often higher. A little steep for most folks! Looking back over time and comparing multiple months of data will often give us enough information to see overarching trends like this.

Monte Sereno Real Estate Market Trends at a Glance:

 

With such a small market area, occasionally we run into a problem with the sales data: no closed sales in a month means no data. Having few sales can make the chart swing out of balance quickly, but no sales means we may have to look elsewhere for sales analysis. In this case, all months compared had just a few closed sales. So while we have some data from this market, I strongly recommend also checking the Los Gatos market which follows similar trends to this small community, but on a larger scale which generally supports more reliable data analysis.

 

April: 4 Sales

Trends At a GlanceApr 2024Previous MonthYear-over-Year
Median Price$5,150,000 (+13.2%)$4,550,000$2,905,000 (+77.3%)
Average Price$6,162,500 (+35.4%)$4,550,000$3,505,000 (+75.8%)
No. of Sales(+100.0%)2(-33.3%)
Pending(0.0%)3(N/A)
Active(-40.0%)5(-50.0%)
Sale vs. List Price102.1% (-9.1%)112.3%99.6% (+2.5%)
Days on Market12 (-11.5%)1324 (-51.7%)
Days of Inventory22 (-71.0%)7529 (-25.0%)

 

Last month the RE Report sales data showed just 4 closed sales, a tiny pool for analysis, but at least it’s something! Prices rose while the sales to list price ratio plunged below last month, though both are up year-over-year. Still, with so few sales these major swings in data may not be telling of the overall market – take it with a pound of salt!

Inventory shrank since the month before, falling to just half of what there was last year. Homes took an average of only 12 days to sell, and keep in mind that high-end luxury properties tend to sell slower than properties with larger buyer pools.

The Monte Sereno housing market remains in high demand. Compared to other parts of the Valley, this city didn’t experience the same dramatic plunge last summer, and it may not be rebounding with the same heat this spring. This small city tends to hold value well, and at a higher price point it doesn’t always show as strong a market change as other parts of the valley.

For those considering buying or selling, it’s important to look at the actual listings for each and every sale with similar features, size, amenities to get a sense of the home’s particular subset of the market.

 

Next, let’s look at the live charts from Altos to see how active listings reflect the market.

 

More Live Altos Research Charts for the Monte Sereno Real Estate Market

The Monte Sereno real estate market, by price quartile.

Prices rose quickly in all but the highest price sector through winter 2023 – 2024! Monte Sereno entered spring with a bang, and while there was a dip mid-spring, the overall trend is still moving up.

Average DOM by price point.

Occasionally a price point will have had little enough activity that the chart makes great leaps when there’s an update. You can often tell where demand is based on how the days on market are arranged:

The extreme shifts in the luxury tier makes it a little hard to read the other price points in the chart above, so here’s a closer look at the average days on market for the other three tiers:

Most of the market is selling quickly, and appears relatively stable overall with seasonal slowing from autumn into winter.

Inventory for all Monte Sereno listings and homes for sale over the last few years.

After hitting rock-bottom levels that February 2019, inventory skyrocketed in mid- to late-2019 giving buyers and agents a hopeful outlook on 2020… before it came crashing down again. Beginning in late winter 2020, inventory plunged again and it’s remained low ever since, falling to new extremes in early 2022. These dips and peaks certainly won’t correct the nearly-perpetual low inventory!

About the City

Monte Sereno is a scenic, upscale residential community of about 4,000 people. It’s located adjacent to the town of Los Gatos and the city of Saratoga, California. There are no business properties 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 Los Gatos and Monte Sereno have the same 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).

More info on this city: Official Monte Sereno city website and 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). This can vary tremendously.

A move-in ready house will not likely be found for less than two million dollars, and will more likely cost twice as much. The last time a home was sold for less than $1 million dollars in Monte Sereno was in 2012 (according to the MLS), over a decade ago. Even then that was a truly rare occurrence, only for out of the ordinary homes! Out of the 170 sales recorded on the MLS in the years 2020 – 2022 only 6 homes have sold below $2 million in this city (and the lowest was $1.69M)! It is not uncommon to spend upwards of $3.5 million in home buying there.

Final note on this area and market influences- while nearly all Monte Sereno properties are within the boundaries of the Los Gatos Union School District and the Los Gatos – Saratoga Joint Union High School District, a small handful has Campbell schools with the Campbell Union High School District. Homes in the latter area will sell for a bit less, so sales there will pull the average and median sales price down a little and not give an accurate impression for most of the city’s real estate market.

Find Homes for Sale in Monte Sereno, California

Please click on this link to view homes for sale in the city of Monte Sereno:

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See all Monte Sereno, CA Homes for Sale & Recently Sold.
(all data current as of 5/18/2024)

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