It’s officially summer and Independence Day is fast approaching. What are your plans for the fourth?
Downtown Los Gatos has plenty going on!
First up, a block party:
Between 10:30 am and 4 pm the Saturday before Independence Day, a portion of Downtown Los Gatos will be closed to traffic for a patriotic block party! There will be live music on multiple stages, games, crafts, red, white, and blue decorations, face painting, a bounce house, and a dunk tank. Pedal in to avoid traffic and make use of the bike valet service! Enjoy shopping and dining at all your usual haunts downtown for a break from the sun. Catch the fun at North Santa Cruz Avenue from Main Street to Bachman Avenue.
Next up, the annual 4th of July Symphony and celebration!
The San Jose Wind Symphony will come together once again at Oak Meadow Park under the bandstand. There will be great American music, barbecue, beer, snacks, games, a few words shared, train rides on the Billy Jones Wildcat Railroad, carousel rides, and good fun for the family. So take some friends, wine, and a picnic, or a pooch and a Frisbee and enjoy your day at the park! Bring something to sit on, protect yourself from the sun, and prepare yourself to have some fun! Remember, parking in Oak Meadow is free to Town residents, but spots are limited so carpool if you can. Flag raising is at 4pm, and the concert starts at 4:15pm.
For more information, please see the info page on the town’s website for the July 4th happenings and the event flier.
Have a safe and happy Fourth, everyone!
There are many factors impacting the Los Gatos real estate market, including the price point and the elementary or high school district. 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 clear, and fairly stable, sellers market. The best movement is still in the low- to mid-range price points, mainly from $1-$2 million. Demand is low, but there’s still movement going all the way up the chart and into the luxury sector.
So what does it all mean? That Los Gatos remains in a sellers market, that demand is proving to be steady, especially throughout the middle and upper ranges with slower movement in the higher-end markets.
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 we saw some of that throughout Silicon Valley, including in the town of Los Gatos. Year over year, the median and average home prices are fairly stable. Despite increased inventory, the sales to list price percentage has gone up and average days on market remain low. This suggest a warming 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||MAY 2017||PREVIOUS MONTH||YEAR-OVER YEAR|
|Median Home Price||-7.1%||$1,950,000||$2,100,000||0.0%||$1,950,000|
|Average Sales Price||-5.2%||$2,128,200||$2,244,650||+3.0%||$2,065,370|
|No. of Homes Sold||+34.8%||31||23||+6.9%||29|
|Short Sales Sold||N/A||0||0||N/A||0|
|Active Short Sales||N/A||0||0||N/A||0|
|Sales Price vs. List Price||-3.1%||101.8%||105.2%||+0.4%||101.5%|
|Average Days on Market||-34.5%||26||40||-8.4%||28|
Los Gatos real estate statistics and market trends At A Glance
- Median home prices fell by 0.0% year-over-year to $1,950,000 from $1,950,000.
- The average home sales price rose by 3.0% year-over-year to $2,128,200 from $2,065,370.
- Home sales rose by 6.9% year-over-year to 31 from 29.
- Active listings rose 19.6% year-over-year to 116 from 97.
- Sales price vs. list price ratio rose by 0.4% year-over-year to 101.8% from 101.5%.
- The average days on market fell by 8.4% year-over-year to 26 from 28.
Compared To Last Month
- Median home prices slipped by 7.1% to $1,950,000 from $2,100,000.
- The average home sales price fell by 5.2% to $2,128,200 from $2,244,650.
- Home sales up by 34.8% to 31 from 23.
- Active listings increased 27.5% to 116 from 91.
- Sales price vs. list price ratio dropped by 3.1% to 101.8% from 105.2%.
- The average days on market dropped by 34.5% to 26 from 40.
The Plein Art Show in Los Gatos returns Saturday June 17 from 11 a.m. – 5 p.m. at the Los Gatos Town Plaza (free admission), with a special VIP event the evening before. It’s both an art exhibit and art sale that benefits local charities, mostly youth. Events really begin on Tuesday the 13th with the arrival of artists in town. There will be painting happening in the days leading up to the show which will be displayed and sold over the weekend.
What is Plein Air? Plein Air is a French phrase which refers to the way of painting in the open air, which was especially popular in the 19th century with many impressionists. There will be dozens of artists coming to town and over 100 pieces of art on display (and to purchase). Also found here will be wine tasting, music, and mini art sessions for kids.
Artists Paint on Location June 14th through June 16th
VIP Artists Reception and Silent Auction $135
Friday, June 16th, 6:30 p.m. – 10:00 p.m.
Dio Deka, Hotel Los Gatos
Details are posted on the Events page
The artists will be present (and so will food and wine). It promises to be a fun time!
Thanks to the Los Gatos morning Rotary for sponsoring this great event yet again. Learn more on the Los Gatos Plein Air website:
As of yesterday, May 1st 2017, the MLS shows just 67 houses for sale in Los Gatos, 95030 and 95032. (Today it’s lower still at a mere 54 houses.) The chart below is based on the number of active listings in Los Gatos 95030 & 95032 (MLS Area 16) on the first of each month going back to January 2007. Take a look at the history of homes for sale (not pending or in contract) month over month – I’ve circled all of the rows for May in each year to see the contrast.
What can someone buy in town right now? Of the 54 houses, 30 are priced at $3 million or less, with many homes available to purchase around $1.5 to $3 million. The least expensive home available right now is an 1100 SF house in original condition for $1.3 million.
For people thinking of selling, this is an excellent opportunity, generally, since few homes available creates the scarcity that lends itself toward homes selling faster and for more (if there are multiple offers especially). Homes under $3 million are selling briskly.
See more information about the Los Gatos real estate market via my online Real Estate Report. Also available, download the 4 page printable report here:
|90-day stats for Single Family properties in|
LOS GATOS, CA 95030 as of June 16, 2017
|Median List Price:||$3,008,423||Average List Price:||$3,773,850|
|Total Inventory:||22||Price per Square Foot:||$982|
|Average Home Size:||3,107||Median Lot Size:||37,127|
|Average # Beds:||4.14||Average # Baths:||3.46|
|Homes Absorbed:||4||Newly Listed:||4|
|Days on Market:||109||Average Age:||49|
|90-day stats for Single Family properties in|
LOS GATOS, CA 95032 as of June 16, 2017
|Median List Price:||$2,642,329||Average List Price:||$3,052,734|
|Total Inventory:||33||Price per Square Foot:||$807|
|Average Home Size:||3,223||Median Lot Size:||10,736|
|Average # Beds:||4.17||Average # Baths:||3.80|
|Homes Absorbed:||7||Newly Listed:||7|
|Days on Market:||86||Average Age:||29|
Los Gatos Free Music Concert Series: Music in the Park, Jazz on the Plazz and Vasona Vibrations Schedule of Events and Performers
Update 1: More schedule information available on the chart below!
Update 2: All schedules for this summer are available and have been added to the chart below!
Summer 2017 is just around the corner and we’re all revved up and ready for those free concerts around Los Gatos. Most artists and schedules have been announced and, knowing that you are as excited about these as I am, I have compiled a calendar of free outdoor music events for us all! Below please find a compilation of the FOUR different Los Gatos free musical concert series (and don’t forget Independence Day festivities)! As always, the information below should be reliable but as with any concert or outdoors event it is subject to change, so double check the website prior to going and always read the rules (especially if you plan to picnic). Hope to see you there!
(1) Vasona Vibrations 5-7pm every Saturday June & July at Vasona Lake County Park, schedule of performers will be updated here. Performances are held on the lawn near the Ranger Office, just down the hill from the pedestrian entrance at University Ave and Pepper Tree Lane. Please note that a $6 fee is charged for parking within the County Parks.
(2) Music in the Park 5-7pm Sundays from June 18 – August 27 with a dance party finale on Saturday, September 2nd at the Los Gatos Civic Center campus lawn. Get more information (rules, dates, location, schedule and lineup) when available at the website or the Town of Los Gatos web page.
(3) Jazz on the Plazz 6:30-8:30pm Wednesdays, June 21 – August 23 at the Los Gatos Town Plaza (where the farmers market is held) on West Main St and Santa Cruz Ave by the post office. More information and a schedule is available on the website.
(4) Fiesta de Artes open 10am-9pm Saturday August 12th, and 9am-5pm Sunday August 13th at Downtown North Santa Cruz Avenue at the intersection with Main Street. The Fiesta is the only art and wine festival in Los Gatos and offers musical performances both days from start to finish. Find the schedule here.
Don’t forget to include the Fourth of July in your plans – it is always spectacular, and is one of the more child-
friendly concerts! The events are held at Oak Meadow Park, and Los Gatos residents park for free. A new event will
be held the weekend prior, the Red, White, & Blue Block Party on Saturday, July 1st. Santa Cruz Avenue in Downtown will be closed for festivities including, music, family games, a bike parade, and dunk tank.
For a calendar of the schedule of events click through to see the full blog post.
Take back or expired or unused prescription medicines April 29 2017 from 10am to 2pm! Sponsored by the DEA, and locally in Los Gatos by CASA (Community Against Substance Abuse) and by the Town of Los Gatos, this is an opportunity to properly dispose of drugs so that they don’t end up in landfills or our water system – a growing problem.
In Los Gatos, meds can be taken to the Los Gatos Public Works Service Center at 41 Miles Avenue, Los Gatos. Other nearby sites are available too, see the list here. This is a nationwide event, so find the location nearest you!
What you can and cannot bring, per the town’s website:
ITEMS TO BRING:
b” Over-the-counter medications
b” Glass-mercury thermometers (double-bag in zip-top bags)
b” Household batteries (please tape the ends of batteries)
b” Cell phones
b” Eyeglasses (collected for Lions Club)
Do Not Bring:
b” IV Solutions
The City of Monte Sereno is quite small, with just about 4,000 residents, so the number of houses sold in any given month will always be extremely small. For that reason, the data may appear to jump around wildly compared to Los Gatos or Saratoga, which each have about 30,000 people living there. Please take all the stats with a tablespoon of salt, and be sure to view the Los Gatos housing market data to get a more accurate picture of what’s happening with Monte Sereno homes (just add a little to the price tag as homes there tend to sell for a bit more than LG properties).
Something else to be aware of is that most houses are in the Los Gatos Union School District, but a small pocket of properties lies within the Campbell School District. Those with Campbell schools usually sell for a little less. Additionally, most of this city is within the 95030 zip code, but again, there’s a small pocket which is in the 95032 area.
Finally, there are only houses in this cities – condos, townhomes, or any other type of housing – and there are no businesses, either. Being 100% residential and single family homes most likely has a large impact on the home values here, though in many areas of Silicon Valley, being in “walking distance” to a coffee shop or grocery store can be a huge plus.
Disclaimers aside, here’s the most recent info:
- Median home prices fell by 3.4% year-over-year to $2,415,000 from $2,500,000.
- The average home sales price dropped by 0.4% year-over-year to $2,491,250 from $2,500,000.
- Home sales rose by 300.0% year-over-year to 4 from 1.
- Active listings fell 21.4% year-over-year to 11 from 14.
- Sales price vs. list price ratio fell by 16.3% year-over-year to 96.2% from 114.9%.
- The average days on market rose by 270.9% year-over-year to 45 from 12.
Compared To Last Month
- Median home prices slipped by 5.6% to $2,415,000 from $2,557,500.
- The average home sales price fell by 2.6% to $2,491,250 from $2,557,500.
- Home sales up by 100.0% to 4 from 2.
- Active listings dropped 8.3% to 11 from 12.
- Sales price vs. list price ratio dropped by 2% to 96.2% from 98.2%.
- The average days on market increased by 27.1% to 45 from 35.
|Trends at a Glance||MAR 2017||PREVIOUS MONTH||YEAR-OVER YEAR|
|Median Home Price||-5.6%||$2,415,000||$2,557,500||-3.4%||$2,500,000|
|Average Sales Price||-2.6%||$2,491,250||$2,557,500||-0.4%||$2,500,000|
|No. of Homes Sold||+100.0%||4||2||+300.0%||1|
|Short Sales Sold||N/A||0||0||N/A||0|
|Active Short Sales||N/A||0||0||N/A||0|
|Sales Price vs. List Price||-2.0%||96.2%||98.2%||-16.3%||114.9%|
|Average Days on Market||+27.1%||45||35||+270.9%||12|
Another great source of realty trends is Altos Research, to which I also have a subscription. Altos uses list prices, though, whereas the RE Report uses sold. What I really love about these reports, though, is that market can be viewed by price quartiles, as sometimes the luxury market in an area may be behaving very differently from the entry level market. The charts below are dynamic and will be updated weekly.
Coming on the market this week – a beautiful “view home” close to the Los Gatos border at 18632 Woodbank Way, Saratoga CA 95070. This is a once-in-a-lifetime opportunity to purchase prime Saratoga real estate, either to live in and enjoy as is, or to expand, remodel, or rebuild.
The location cannot be beat: situated on a quiet cul-de-sac and at the top of a small knoll, the 3 bedroom, 2 bath house with 2346 square feet of living space enjoys a vast, panoramic view of the coastal range. From the family room, kitchen, and master bedrooms plus the deck and patio, you’ll take in sweeping vistas – the peaks of El Sombroso over east Los Gatos and El Sereno over west Los Gatos, Monte Sereno, and Saratoga. The land is 1.37 acres of very very gently sloping orchards, mostly with prune trees but other types as well.
Recently updated for the sale, the house offers newly refinished hardwood floors throughout most of the house and fresh interior paint among other improvements.
On MLS by Tuesday April 4th at noon. Price $2,400,000. Offer due date April 18th at noon. (No pre-emptive offers, please.)
To see open house schedule and to learn more, please click on the link below:
18632 Woodbank Wy., Saratoga – just off Quito Road.