December 05, 2017
Downtown Los Gatos has much to offer, particularly during the holidays, but now we can add one more thing for which to be grateful – downtown Los Gatos is working to bring the holiday joy into your shopping experience!
This Sunday, December 10, from 11am – 4pm Los Gatos encourages you to shop local for the holidays at the 2nd Annual Holiday Stroll. In addition to the seasonal decor, there will be carolers, hot chocolate sales, a visit from ol’ Saint Nick, and plenty of kids activities for revelers and shoppers alike. Additionally, there’s free valet parking!
More details on the Stroll at the event page.
For valet parking, check out the flier.
Lots is happening in and around our quaint corner of Silicon Valley, and keeping up is half the battle. To make your holidays a little less stressful and a little more jolly, I have organized a list of events and activities going on in Los Gatos this holiday season. Below you will two lists – one with unique holiday events by date and a separate list of ongoing events. These lists do not include religious services, so please check your preferred place of prayer for those schedules.
Here’s the rundown on carriage rides, the Fantasy of Lights, the tree lighting ceremony, the Los Gatos holiday parade, and more:
There are many factors impacting the Los Gatos real estate market, including the price point and the elementary or high school district. We’re late this month, but today we’ll look at the Los Gatos realty market by pricing tiers and high school district using the months of inventory as a data point. The months of inventory, or MOI, is the currently active (for sale, no contract or pending sale) homes for sale divided by the number of homes using the same criteria which have closed escrow in the last 30 days.
These numbers were run today using MLSListings.com and it’s possible that a few more homes will be recorded as closed sales or new homes added to the market after we ran these numbers. One other disclaimer: sometimes the number of closed sales is very low or is at 0. This can be for many reasons. In some cases, there are a few which are sale pending and simply haven’t closed recently. In other cases, the opposite could be true, indicating a possible lack of demand or inventory. That being said, what do the numbers say?
Los Gatos real estate months of inventory in 95030 and 95032 combined
The overall MOI still shows a ferociously strong sellers market, which is opposed to the usual seasonal cooling. While there is rapid turnover in the lower to mid-range price points, the luxury market is at a standstill. Demand is exceedingly high up to the $3 million marker!
So what does it all mean? That Los Gatos remains in a sellers market, that demand is proving to be steady, and that while the luxury market is showing a seasonal chill, the rest of the market is facing heat wave.
Here is the chart from last month for comparison:
All of Los Gatos 95030 and 95032, both high school districts – overall, it’s a clear seller’s market.
The real estate market for homes with the Los Gatos – Saratoga Joint Union High School District only
Now let’s view just the homes which are in the Los Gatos – Saratoga Joint Union High School District (or homes “in the schools” as locals say). Continue reading
Each month, we update the Los Gatos real estate statistics and market trends with the latest information on closed sales for the prior month. We’ll review the Los Gatos inventory of homes for sale, the number of homes sold and under contract, and of course the median sale price and average sale price of sold properties. There’s one report for single family homes, meaning houses and duet homes (duet meaning attached single family), and another for condominiums and townhomes. This report covers the 95030 and 95032 areas of town, but not the Los Gatos Mountains, which is zip code 95033 and consists of unincorporated areas in Santa Clara County and also Santa Cruz County. To make this comprehensive, I have two subscriptions that are utilized here: REReport and Altos Research. The first one uses sold / closed figures, and the latter one uses current listings (and is updated automatically each week).
This first chart is very interesting, as it reveals that the number of homes sold has dropped while average days on market have also fallen.
Los Gatos real estate statistics and trends from the RE Report
How’s the Los Gatos market? Real estate inventory and sales often slip in December, during the holiday season, and rise in the summer. We saw some of that throughout Silicon Valley, including in the town of Los Gatos. Year over year, the median and average home prices have seen increases. Inventory shows fewer active and more pending. The sales to list price percentage has remained fairly stable and average days on market are low. This suggest a stable seller’s market.
The real estate numbers below reflect realty data gathered the first week of the month for the past month in Los Gatos 95030 & 95032. See the full REReport here.
|Trends At a Glance||Oct 2017||Previous Month||Year-over-Year|
|Median Price||$2,096,000 (-12.1%)||$2,384,000||$2,090,000 (+0.3%)|
|Average Price||$2,234,310 (-13.0%)||$2,567,270||$2,347,350 (-4.8%)|
|No. of Sales||31 (-29.5%)||44||31 (0.0%)|
|Pending||40 (+2.6%)||39||24 (+66.7%)|
|Active||38 (-19.1%)||47||84 (-54.8%)|
|Sale vs. List Price||101.8% (+0.7%)||101.1%||100.4% (+1.4%)|
|Days on Market||23 (-43.9%)||42||49 (-52.4%)|
|Days of Inventory||37 (+18.7%)||31||81 (-54.8%)|
And the chart from last month for reference:
|Trends At a Glance||Sep 2017||Previous Month||Year-over-Year|
|Median Price||$2,384,000 (+3.8%)||$2,297,500||$1,635,000 (+45.8%)|
|Average Price||$2,567,270 (-6.4%)||$2,742,170||$2,012,780 (+27.5%)|
|No. of Sales||44 (+37.5%)||32||32 (+37.5%)|
|Pending||39 (-17.0%)||47||31 (+25.8%)|
|Active||47 (-9.6%)||52||82 (-42.7%)|
|Sale vs. List Price||101.1% (0.0%)||101.1%||98.9% (+2.3%)|
|Days on Market||42 (-2.7%)||43||42 (+0.6%)|
|Days of Inventory||31 (-36.5%)||49||74 (-58.3%)|
What do you need to know before buying a house in Los Gatos? Particularly for people relocating to Los Gatos (or generally to Silicon Valley) from other areas, or from parts of Santa Clara County not close to the hills, there are a few home buying tips you’ll want to know before purchasing a home in our fair town. (For locals, these may seem obvious!)
1. Los Gatos & Schools
Whether you have school aged kids or not, you’ll want to know that there are several school districts covering the Los Gatos area. School district lines do not follow the town’s boundaries. (Not too long ago I met someone with a home to sell in the Belgatos area and he had no idea that his home did not belong to the Los Gatos Union School District. This caused him to misunderstand the likely market value of his property.)
Santa Clara County Office of Education School District Boundary Map – Sadly the map no longer exists
Town of Los Gatos: List of Schools Serving Los Gatos Students
2. Historic downtown Los Gatos areas
Areas closest to “downtown Los Gatos,” especially the historic neighborhoods (including Almond Grove, Edelen, Broadway, Fairview Plaza) tend to be much more expensive than those further out. The “walk to town” or “close to town” proximity makes them highly desireable, but also these regions of town are very scenic and have some fabulous Victorian and other beautiful architectural styles. Many are tree-lined, too.
Related to both #1 and #2, the public schools are not all that close to downtown Los Gatos. (St. Mary’s Catholic Elementary School is in the downtown area, as is the adjacent Los Gatos Parent Nursery School.)
3. Hillside locales
If you buy a house close to a hill, among some hills or on a hill, you will need to pay close attention to issues which are less common in flatter areas further from slopes. Among them are foundation, water and drainage concerns. Some flat areas near the hills may have a high water table, may springs that come seasonally or in very wet years as well as runoff problems.
Water is often far more damaging than termites but it is not really uncommon to find water in a crawl space during the rainy season. Learn about it and pay heed to property inspectors’ suggestions regarding remediation if it’s a condition in a house you want to purchase.
I wrote about this on my Valley of Hearts Delight blog (covering all of Santa Clara County, but mostly the west valley) and suggest these two articles:
4. Los Gatos address
Some homes with a “Los Gatos address” may not actually be in the town of Los Gatos. Many are in a county pocket or area (and may not have all the services of the town). A very few are actually part of either Campbell or San Jose but were assigned the Los Gatos mailing address for ease of the US Post Office.
How can you tell if a residence is part of the town of Los Gatos, is unincorporated or part of another city? The website for the county of Santa Clara has a lookup service. First you must accept the terms of service (see link above), then you will be allowed to input an address. If you type in a location’s address and it says “not found”, either you’ve got a typo in the building number or a mistake in the actual city, so perhaps it’s unincorporated or belonging to another adjacent municipality.
What difference does it make? The actual address (not mailing address) will impact a variety of things such as services (sherriff vs Los Gatos Monte Sereno police, free access to Oak Meadow Park), planning (any additions, remodels etc. will need to be approved by your actual city), voting in Los Gatos elections, etc.
5. Los Gatos is a town, not a city
Los Gatos is a town. (Monte Sereno, with whom we share some services, is much smaller but is a city, not a town.) This means our government is run a little differently. For instance, we don’t vote for mayor. Instead, we vote for town council members. They, in turn, vote for mayor. (Usually it’s a rotation.)
According to Wikipedia: “There are 481 incorporated municipalities in California, of which 459 are called cities and 22 are called towns.” [Edit: this quote was accurate as of Feb 28, 2011, but has been edited since. On Oct 24, 2017, the page lists 482 municipalities, 22 of which call themselves Towns.] I was surprised that there are so many towns – had thought it was only a handful!
Los Gatos is an interesting, fun, welcoming town. If you’re moving to the area, it’s a vibrant place you should check out. Please call or email me if you’d like more assistance.
Looking for great schools, more space, and a less suburban environment? Just beyond the borders of the Town of Los Gatos lies a collection of rural communities situated in the scenic Santa Cruz Mountains, or Coastal Range and together there are known as “The Los Gatos Mountains.” This large region sits above Almaden Valley, Los Gatos, Monte Sereno, Saratoga, and a bit north of there in Santa Clara County, and just over the summit and toward Scotts Valley, Soquel, and Aptos in Santa Cruz County. As the description implies, it is a sprawling area and within it there are different school districts, views, levels of sunshine, natural hazards such as earthquake faults, and amenities which can all impact housing prices and real estate market trends and the market may be very different from one segment or price point to another.
All of these areas fall under the 95033 zip code and have a Los Gatos mailing address, so they are viewed together. Don’t be confused into thinking that areas in the Los Gatos Mountains are the same as the Town of Los Gatos, though – they are quite different.
95033 Los Gatos Mountains Real Estate Market Update
Unfortunately, my usual resource, the RE Report, has no section for the Los Gatos Mountains. Instead, the analysis I have written below is based off of data collected directly from the MLS over September and to date in October.
In the month of September, 6 homes sold in the 95033 mountain area of Los Gatos. Sale price ranged from $550,000 – $1,950,000 with an average of $1,055,750. Wide ranges like this are not unusual. While lot size is usually larger than in-town properties it can also vary a great deal, as does building age and size. For instance, the highest priced home had nearly 10 times the building size of the lowest priced property. Now let’s compare this with October sales, since we are coming towards the end of the month. This time, the range of sales is between $890,000 – $1,887,500 with an average of $1,330,625. What does this show us? The range is fairly consistent. In the mountain area you can still readily find properties for under $1 million – something we are not seeing in any other Los Gatos market at the moment – but you can also find large properties with big homes selling at what would be the medium to high-end for an in-town home.
What else can we learn from the sold listings in September and October? Well, the listing price tells us a lot. In September, only one of the six homes sold for higher than list, two sold exactly at list, and three sold below list price. In October, one out of four sold above list price and the rest sold for less than listed. Inventory is taking longer to sell as well. Some homes are still selling rapidly with two selling in under a week last September, but many are taking longer; in the same month, one sold that was on market for 204 days. The average days on market for September 62 days and 45 days in October, while most of the South Bay has an average of a month or less. What does this all mean? Buyers are having an easier time in the mountain market. Listings on-market longer are receiving fewer offers, and offers under list price are more regularly being accepted. The fastest selling properties where there is greatest demand and where homes have sold over list are within a range of $1 – $1.3 million, which would be considered entry-level in the rest of town but is mid-priced here.
So what about active listings? There are currently 15 active properties on the market. The most recent listing has been on the market only 4 days, while the longest has been active for 238, with the average being 117 days on market. List price ranges from $550,000 – $5,800,000 with an average list price of $1,863,267. Another way to tell that this market is cooler than elsewhere in Silicon Valley is the number of active vs sold, which shows that there is a lower ratio of demand to inventory in the mountain market.
Although the market is noticeably cooler in the mountains than in town and many other areas around South Bay, the market here is still more active than it usually is. Buyers not wanting to deal with the stress of the strained seller’s market, or who are looking for lower-priced homes and don’t mind the drive and other special concerns with hillside properties will find the Los Gatos 95033 market to be a good option.
Mountain Market Trends by Quartile
Below is a chart taken from the October 2017 Altos Research market update. It divides properties into four price quartiles to show variances in market trend. Surprisingly, the last year has been looking a little backwards with prices rising in winter and falling in spring. This might have to do with the available inventory elsewhere, since we typically see more homes go on market around spring and inventory lessening in winter, giving buyers fewer options. The luxury market bounces around a lot because of the extreme variety of homes in that range.
Live Altos Charts
While I do not frequently update the Los Gatos Mountain market post (there are agents who specialize in the mountain market – I am not one of them, though I have sold a number of mountain homes) the charts below will always be up to date. These are live charts, regularly updated and constantly tracking sales and listings from the MLS.
The median list price of homes for sale in the Los Gatos Mountains 95033 – all price points combined:
The median list price of homes for sale in the Los Gatos Mountains 95033 – showing info by price quartile:
Average days on the market (number of days the home’s been listed for sale on the MLS), all price points combined:
Average days on the market for 95033 by pricing tier – it’s typically erratic as the amount of inventory tends to be small:
Subscribe now to learn dozens of LOS GATOS real estate trends and other important market measures!
How’s the Real Estate Market in the Los Gatos Mountains 95033?
$1,699,000 : 54 Old Orchard RD, LOS GATOS4 beds, 6 baths
$1,699,000 : 20895 Panorama DR, LOS GATOS5 beds, 4 baths
$875,000 : 24353 Santa Cruz HWY, LOS GATOS3 beds, 3 baths
$540,000 : 19221 Beardsley RD, LOS GATOS2 beds, 2 baths
$1,200,000 : 0 Old Santa Cruz Hwy, LOS GATOS2 beds, 2 baths
$1,099,000 : 22525 Summit RD, LOS GATOS2 beds, 1 bath
$3,690,000 : 20545 Beggs RD, LOS GATOS6 beds, 5 baths
$750,000 : 30003 Summit RD, LOS GATOS3 beds, 1 bath
$949,000 : 17959 Mountain Charlie RD, LOS GATOS3 beds, 2 baths
$3,998,000 : 18921 Bear Creek RD, LOS GATOS5 beds, 5 baths
See all Real estate in the Los Gatos Mountains community.
(all data current as of 12/12/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
It’s time to decorate some pumpkins! Sereno Group is hosting its 8th annual pumpkin decorating contest and invites kids to transform a small pumpkin into a work of art! This is not a carving contest and there should be no punctures of any kind as these works of art will need to last, and any cuts will cause rotting.
Every child who enters will get a small gift. Voting on the best work of art will take place during office meetings for each of three age groups, with the winner of each getting a prize.
Small pumpkins are being given away at the Sereno Group office locations in Los Gatos, Saratoga, Willow Glen, Aptos / Santa Cruz, Los Altos and Palo Alto – please see flier for office hours. O[tionally, entrants may bring their own small pumpkin.
The deadline is Friday, October 20th, 2017. Have fun – we cannot wait to see the decorated pumpkins!
St. Mary’s Country Fair in Los Gatos is a fun, annual community event that always occurs the second weekend of October. This year, it’s October Oct 6th – 8th, 2017.
Open to everyone, and with no admission fee, the three day fundraiser is a great place to enjoy so many cool things, including:
- carnival rides
- bouncy house (several)
- country store shopping
- arts & crafts (such as pumpkin decorating)
- martial arts displays
- dining (good and affordable!) – several food booths to choose from
- pancake breakfast on Sunday morning
- play games
- giant slide
- spaghetti dinner
- full service coffee shop
- talent show
- live bands
- bingo (of course!)
This is a fabulous place to walk through and simply bump into friends & neighbors from all over Los Gatos and the nearby communities. It’s also a fun place to take photos. Each day is a little different, some return again and again!
St. Mary’s Church and School are located in downtown Los Gatos on Bean Avenue near Tait (and near North Santa Cruz Avenue) in the historic Almond Grove neighborhood. You can also reach the party by coming from Main Street and Lyndon Avenue.
Like a bargain? There’s an easy way to save money. Visit the parish or school office before Friday at 2pm and buy your Butler ride tickets at a substantial discount – and avoid the lines! (Tickets are sold in the 2 weeks leading up to the fair most years.)
Also, much of the Almond Grove District of Los Gatos has permit parking only in the evenings. So don’t park in the neighborhood! There are lots of public parking spaces between North Santa Cruz and University Avenues in Los Gatos, and they are no cost, so park there instead. I usually like to park between North Santa Cruz Avenue and University Avenue in the public lot. If you’re in biking distance, consider cycling in – just remember lights are required when biking in the dark, and remember road safety!
Hello fabulous Live in Los Gatos Blog readers! Here’s a quick update on a few Los Gatos, Saratoga events coming up in early fall:
- Sat, Sept 23 Eat Drink Los Gatos (expands upon the Fall Wine Walk)
- Sept 30 – Oct 1st Russian Festival – St. Nicholas Orthodox Church of Saratoga
- Oct 1st 1-4pm Saratoga History Mid-Autumn Festival Celebration
- Oct 1st 1pm Saratoga History Free Lecture on the Transcontinental Railroad and Chinese Exclusion Act
- Oct 5-8 Los Gatos Irish Writers’ Festival
- Oct 6 – 8 St. Mary’s Country Fair
- Oct 8 1-4pm Saratoga History Come Celebrate the India Showcase
- Oct 12 7:30pm Saratoga History Free Film on John Philip Sousa
- Oct 15th noon – 4pm The Club at Los Gatos – Pickleball Tournament
- Oct 28 Saratoga Village Witchy Walk-A-Bout 2pm-4pm – Saratoga’s city site only has old info, but I believe it’s 2-4 on Saturday Oct 28th this year (we’ll update if we can find current info)
Hope to see you at some of these soon!