Los Gatos Real Estate Market Trends

Los Gatos real estate market graphic with home near downtownAs of today, June 4 2024, the Los Gatos real estate market in 95030 & 95032 is softening, but still a seller’s market. We are seeing inventory rise, but we’re also seeing interest rates rising, and that appears to be putting a damper on sale prices.

Across the county, first time home buyers are the most active and more entry level prices is the strongest segment.

Los Gatos real estate market statistics for the last 30 days (not a calendar month)

Numbers for today (pulled from the MLS), going back 30 days:

  • 61 houses for sale today (June 4, 2024)
    • the average days on market for these homes is 73 days (but 3 have been on for 555-557 days!)
    • the median days on market 22 days
  • 2 are contingent, 26 are sale pending  (no contingencies)
  • 32 have closed in the last 30 days
    • average home size 2,424 SF
    • Lot size data is off – someone entered a number incorrectly, so it’s messed up
    • average days on market = 18 (up from 7 last month)
    • the LONGEST days on market was  83, and of the 32 homes, 21 sold in 10 days or less
    • average sale price  $3,196,188
    • median sale price $3,200,000 (same as last month)
    • average sale to list price ratio 105% ( it was110% 30 days ago, 109% in April, 104% in mid-March and 101% in early-mid January)

Nine of the sold homes were  $4 mil or more. The highest sale price was $5,310,000.

Some of the homes for sale have been on the market a long time, but for houses that do sell, it’s usually in 10 days or less. Some price points do typically take longer, though.

 

 

Further below you’ll find similar charts for houses in the Los Gatos Mountains and also condos and townhomes “in town”.

Los Gatos real estate market statistics: multi year data by month

Here is some Los Gatos real estate market data that I pulled directly from the MLS today.

Inventory of available homes for sale in Los Gatos 95030 and Los Gatos 95032

Inventory is finally into a healthier range (though I recall the days when 80 was typical).

 

Inventory of Los Gatos homes for sale 95030 95032 MLS area 16

 

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Los Gatos homes for sale

Los Gatos Homes for sale - Charter Oaks townhome neighborhood offers a great valueLos Gatos is a very spread out town, covering about 10 square miles. If you are looking online for Los Gatos homes for sale, it can help to narrow the field by zip code, school district, or proximity to something important, such as commute routes or restaurants.  As a starting point, though, browsing the inventory of available properties on the market can help tremendously This can give you a feel for home prices in town and how much real estate your budget can buy. Please note that the Los Gatos real estate market varies by many things, including price point and high school district.

Where can you find Los Gatos homes for sale?

The vast majority of Los Gatos houses, townhomes and condos on the market will be found in the multiple listing service, or MLS, and nearly all (99%?) of those will be visible on the feeds below.  These are part of the internet data exchange, or IDX.  Some listing agents or brokers (or sellers) may “opt out”, but that reduces the visibility, so is uncommon. I work with my clients to scour 100% of the listings on the MLS as well as the privately shared “coming soon” opportunities (not for public view).  Often I will also reach out to my colleagues to see if any of them have pocket listings, which means not publicly advertised on the multiple listing. Networking is an old skill and yet another reason why home buyers do better if they have a buyer’s agent rather than try to go it alone.  Sometimes I end up needing to really beat the bushes for a particular kind of property, and in those cases I will research and move on expired, cancelled, or withdrawn listings, as well.

One more note: Los Gatos has two “in town” zip codes, 95030 and 95032.  The Los Gatos Mountains is the hilly, coastal range area between this town and Scotts Valley in Santa Cruz County and it’s generally an unincorporated region. If you do a web search for “homes for sale Los Gatos CA” you could be looking at listings in the remote nooks and crannies of the Santa Cruz Mountains, so please be aware of zip codes. (95031 is just post office boxes, by the way.) (more…)

Los Gatos & Saratoga CA historical real estate data 2005 – 2014

Today on my “Live in Los Gatos” blog, I included 5 images with graphs of the historical sales date for Los Gatos (zips 95030, 95032, and the mountains, zip 95033) and Saratoga 95070. Below is one of the five – to see all, please continue to this article:

Los Gatos & Saratoga real estate sales statistics 2005 – 2014

http://liveinlosgatosblog.com/los-gatos-saratoga-real-estate-sales-statistics-2005-2014/

 

Saratoga median price and average DOM

 

 

 

Appreciation in several west valley zip codes: median sale price year over year

Appreciation by west valley zip code for July median sale priceHome values in Silicon Valley have been rising over the last few years, and in some segments the appreciation has been incredibly steep.  This happens when a big influx of home buyers want to purchase but the supply of real estate inventory is too limited for the demand.  This is happening in the most popular areas especially: those with either short commutes, great schools, a vibrant downtown, or some combination of these three.

Today I wanted to look at the median sale price of houses which closed escrow in July 2014 and the preceding few years for the same month only in a handful of zip codes in San Jose and Los Gatos along the west valley areas.  Considered for this study are 95070 – Saratoga, 95030 7 95032 – Los Gatos & Monte Sereno, 95008 – Campbell, 95124 – Cambrian area of San Jose, and 95120 – Almaden Valley area of San Jose.  The only month plotted is July for each year.

When charted, it appears that most of these west valley areas are appreciating somewhat steadily, though 95032 came down in the month of July 2014 as opposed to 2013 (one month does not make a trend, and please remember that ONLY July for each year was considered here).  At the other end of the spectrum is Campbell, 95008, which has been immensely popular in recent years.

Next let’s take a look at the numbers themselves for July in the years 2010 – 2014.

 

Median sale price for west valley zip codes

 

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How is the Los Gatos Real Estate Market Faring?

How’s the Los Gatos real estate market? Generally speaking, it is a seller’s market overall in the 95030 and 95032 zip code areas (in town).  That said, remember that it can vary a lot between price points and school districts, let alone neighborhood, sale type (regular vs distressed).  Real estate is always local!

Today we’ll look at the LG market both with a view to the sold data we have as well as the current listings activity.  We’ll view the “in town” areas and also the mountain areas. First addressed will be the market as seen by the “sold data” – houses, then condominiums & townhouse.  (Long post but loads of info!)

Los Gatos & Los Gatos Mountain Housing Market Trends

I. Sold listings data for Los Gatos houses

Houses in Los Gatos & Los Gatos Mountains – housing trends using sold data

(1)  In town

First, housing trends “in town”, utilizing my Real Estate Report, which comes out monthly (and includes all of Santa Clara County):

 

 

Below is the summary of market trends in Los Gatos for the most current month, January 2011 (using sold data):

 

Trends At a GlanceJan 2011Previous MonthYear-over Year
Median Price$1,072,500$1,000,000 (+7.2%)$985,000 (+8.9%)
Average Price$1,173,770$1,203,520 (-2.5%)$1,264,620 (-7.2%)
No. of Sales3031 (-3.2%)13 (+130.8%)
Pending Properties3539 (-10.3%)30 (+16.7%)
Active10787 (+23.0%)101 (+5.9%)
Sale vs. List Price96.7%96.5% (+0.1%)98.2% (-1.6%)
Days on Market5969 (-15.0%)41 (+43.3%)

 

(2) Los Gatos Mountains

The Los Gatos Mountain communities (zip code 95033) usually have a slower market (harder to sell homes, even in “hot” years -compare 2007 for in town and in the mountains). December was improved, though, interestingly.
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The Los Gatos Real Estate Market by Zip Code, School District and Price Point

moi-explained-by-Mary-Pope-HandyPlease see the info for the UPDATED housing market statistics in Los Gatos on the Live in Los Gatos blog:   Los Gatos real estate market trends by price point and high school district
The Los Gatos real estate market has been a ” seller’s market” for more than 2 years now, but how much it’s a seller’s market entirely depends on which part of the Los Gatos market you’re discussing.

This post on the Live in Los Gatos blog will cover:

  • single family homes (99% houses, but a few duet homes)
  • 95030 and 95032 zip codes
  • Two high school districts:
    • Los Gatos Saratoga High School District (meaning Los Gatos High School)
    • Campbell Union High School District (meaning Westmont or Leigh High Schools)
  • varying price points in all of the above

General comments:
Most of 95030 is in the Los Gatos Saratoga High School District, but there is a very, very tiny portion of it which belongs to the Campbell Union High School District.  The percentage is so small as to be statistically insignificant, but I wanted to mention it here for the sake of accuracy and I will include it below.  The numbers below are from our MLS provider, MLSListings.com, with the numbers crunched by me, Mary Pope-Handy.  While I have made every effort to be 100% accurate, I do not guarantee it (don’t sure me if there’s a typo or other error!).

 

The Los Gatos real estate market has many nuances in addition to factors such as schools and zip code.  We could dissect the market by any number of factors, from the distressed properties (which do sell for less) to those which views, acreage, historic homes, etc.  When you are thinking of buying or selling a home in Los Gatos, do not simply accept the overview of the town as necessarily relevant to your particular situation.  It is imperative to get the data on your part of the market and to understand what that data actually means.  From the study at the Live in Los Gatos blog, you can see that part of the Los Gatos real estate market is a strong seller’s market and others have a much longer supply of inventory  (buyer’s market).  Not understanding where in the spread your home or desired home sits could literally cost you dearly as you miss-position your home or your offer relative to the market conditions.

If you’re interested in buying or selling a Los Gatos house, townhome or condo, please call me.  If we work together to market your home or purchase a home, I will do my best to assist you in getting the clearest possible picture of the particular segment of the market that relates to you and your situation.

Read the article here:
Los Gatos real estate market trends by price point and high school district