A resource for folks living in or moving to Los Gatos, by Mary Pope-Handy

Homes & Housing Market

Los Gatos real estate market trends by price point and high school district

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 sellers market, though there’s been some cooling. The best movement is still in the low- to mid-range price points, ranging from $1.5-$3 million. Demand has let  up in the high-end markets since the end of last year.

So what does it all mean? That Los Gatos remains in a sellers market, that demand is proving to be steady throughout the middle ranges with slower movement in the lowest and higher-end markets and no real turnover in the luxury sector.

Here is the chart from January 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

Los Gatos real estate statistics and market trends

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 price is down a little. Despite increased inventory, the sales to list price percentage has gone up and average days on market have dropped. 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.

Los Gatos real estate statistics and market trends At A Glance

Year-Over-Year

  • Median home prices fell by 5.4% year-over-year to $2,224,000 from $2,350,000.
  • The average home sales price dropped by 8.9% year-over-year to $2,142,080 from $2,350,830.
  • Home sales fell by 13.3% year-over-year to 13 from 15.
  • Active listings rose 21.8% year-over-year to 67 from 55.
  • Sales price vs. list price ratio fell by 0.5% year-over-year to 99.1% from 99.5%.
  • The average days on market fell by 61.6% year-over-year to 21 from 54.

Compared To Last Month

  • Median home prices improved by 16.7% to $2,224,000 from $1,905,000.
  • The average home sales price fell by 2.1% to $2,142,080 from $2,187,250.
  • Home sales up by 8.3% to 13 from 12.
  • Active listings increased 36.7% to 67 from 49.
  • Sales price vs. list price ratio increased by 0.8% to 99.1% from 98.3%.
  • The average days on market dropped by 51% to 21 from 42.

Continue reading

Los Gatos Real Estate Market Snapshot

How’s the market in Los Gatos?  Houses well priced and in good shape with no major issues that are listed at or under $2 million are selling very nicely.  Many of the houses in the 95030 and 95032 zip code areas are more expensive, though, and that segment of the market – especially over $ 3 million – is not doing so well.

Here’s a quick look at how things look for the two zip codes (the “big picture” within Los Gatos.

 

 Los Gatos 95030 and 95032 DOM and SP to LP Ratio

Los Gatos 95030 and 95032 Days On Market and Sale Price to List Price Ratio

Case study: online home valuation sites

Are you tempted to look at online, auto valuation websites to check Los Gatos real estate values?  Those online home valuation sites (including mine) can be very tempting.  After all, who wouldn’t want a real-time update on home sale prices?

A few times, I’ve had clients or potential clients who relied very heavily on a well known real estate portal for information on “what that home is really worth“.  The trouble, of course, is that the folks running the algorithms haven’t been to that street or to that house.  They don’t know if it’s exquisitely updated or if it’s in a state of ruin.  They don’t know if it seems well loved or if it has terrible odors.  

Usually the portals have a very wide target. One of them claims that they want to be within 20% of the market value 80% of the time.  Let that soak in.  For a million dollar home, that’s  a range of $800,000 to $1,200,000 not all the time but 80% of the time!

More convincing than my saying, “hey, that site is usually way off”, I like to just demonstrate what happens when I plunk a property’s address into a number of these auto valuation sites.  I find the range of estimated pricing to be very compelling.  Please have a look at the wide range of projected values – all for the same home & land!

Online Valuations for the same house

                                       Online valuation sites. (Weiss Analytics is by paid subscription.)

How would you like to own a home worth  $2.6 million and hear that it’s worth $1.6 million from online home valuation sites?  Or what if you put your condo on the market based on this kind of pricing, only to find that it was 20% off?

No, the better approach is to have a relationship with a local Realtor who can help you determine the probable buyer’s value for your home. It’s never going to be one exact price, because each buyer will have different terms, motivation, ability, and so on. If you get a lot of offers all at one, it will shoot the price high. If it takes more than 3 weeks to sell and you get just one buyer, it will be lower.

Online home valuation sites can be fun, but please remember that most of the time, they aren’t very accurate.  Want help knowing if you have enough equity to sell? Please call or email me and we can meet and go over market conditions, the comparable sales, improvements that will give a good return on value, and the marketing needed to obtain your best price so that you can make an informed decision.

Los Gatos Homes for Sale Under $1,000,000

Espana Oaks townhomes in Los Gatos

España Oaks townhomes in Los Gatos

With average and median home prices between $1.5 and $2 million, it can be hard to find Los Gatos homes for sale under $1,000,000.  Look hard enough, though, and there’s often an opportunity – usually a condo, sometimes a townhouse, and once in awhile, a house on a lot.  Ok, to be fair, if it’s a single family home on a piece of land, it may well be a tear down – what my daughter used to call a “dozer”, as in “bull dozer”. But it’s a starting point!

What are the best odds for finding Los Gatos homes for sale under $1,000,000?

There will be some strategy involved to find a lower priced home in Los Gatos 95030 or 95032. First, it’s important to understand the impact of  the proximity to downtown and the role of schools.  Find a home with Los Gatos High that’s in one of the official historic districts and you are likely to pay a premium for it!  Go further out, and away from pristine Victorian homes from 100 years ago. and the prices will soften.   Things will also improve if you consider smaller homes on smaller lots.

A townhouse with Westmont or Leigh High may be in budget if it needs remodeling and updating. There are some really nice communities in town, such as Los Gatos Woods, where if you’re willing to do a little work you might be able to squeak by at under one million dollars.

To improve the odds of success, you may want to concentrate on either condominiums or on properties in the 95032 zip code with Campbell Union High School District (Westmont or Leigh High). Or improve the odds better and go beyond the town’s boundaries and consider the Los Gatos Mountains (zip code 95033).  With the latter, you’ll get much more home for your money.  The downside, of course, is that your commute will be longer and you may have issues from living in the mountains.

If you are over age 55 or if you aren’t planning on living there yourself – if it’s an investment property – you may want to think about buying a home in one of the seniors condo complexes.  The Los Gatos Commons is nicely situated in the central or downtown Los Gatos area and as of this writing, in 2016, units can be purchased for under $700,000.

Another tactic to employ is to watch for homes that have been on the market a long time and are hovering at 10% or so above your target price point. In every real estate market, no matter how hot, there are some houses, townhouses, and condominiums which are simply over-priced.  I don’t suggest targeting more than about 10% over budget because “low-ball”offers usually serve to offend sellers and backfire on buyer’s good negotiating intentions.

Browse Los Gatos homes for sale under $1,000,000

  1. 2 beds, 2 full, 1 half baths
    Home size: 1,334 sq ft
    Lot size: 522 sqft
    Year built: 1980
    Walk Score®: 55
  2. 1 bed, 1 full, 1 half baths
    Home size: 864 sq ft
    Year built: 1962
    Walk Score®: 49
  3. 2 beds, 2 full baths
    Home size: 1,015 sq ft
    Lot size: 1,829 sqft
    Year built: 1972
    Walk Score®: 33
  4. 1 bed, 1 full bath
    Home size: 764 sq ft
    Year built: 1970
    Walk Score®: 55

See all Los Gatos Homes $1 mil and under.
(all data current as of 3/29/2017)

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

 

 

 

 

Ending the Alberto Way Condo Confusion

Alberto Way MapMost of the condominiums along Alberto Way in Los Gatos are part of The Los Gatos Commons, a senior complex that’s fairly large. (To read more about senior housing in the area, please see my post on it here.) As with most senior housing, the units at The Commons are more affordable than the majority of  Los Gatos condos. The Commons was built in 1978 and requires that at least one resident be 55 years of age or more. As of 2016, you may be able to purchase a tiny 1 bedroom in the Commons for under $700,000.

A smaller condo community just a little closer to Los Gatos-Saratoga Road, and on the opposite side of Alberto Way, is Pueblo de Los Gatos.  These homes are a little further away from Highway 17, are a little quieter, and are not senior housing.  They tend to sell for a little more than the homes across the way. There seems to be about a 5% difference in price, most of which may be attributable to freeway noise, but part of it to the “senior community” status. This property was developed in 1970.

What is the fastest way to tell them apart? The easiest way, without even clicking on a link, is to spot the address.  If there’s a letter as part of the unit number (as in A100 or B202), it’s part of The Commons. If there’s no letter, as in #7, it’s part of the Pueblo de Los Gatos. Of course, there are other townhomes in the immediate area, too – but these are the largest communities.

Both of these are in close-to-downtown Los Gatos locations. If you’re in the market for Los Gatos real estate and would like to live close in, this is a great street to check out.

Los Gatos Commons homes for sale (55+)

Condos in the Los Gatos Commons (a senior community) which are for sale or pending sale right now.

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

 

All Alberto Way area homes for sale

This includes properties on Alberto Way as well as Maggi Court

  1. 3 beds, 2 full, 1 half baths
    Home size: 1,760 sq ft
    Lot size: 1,785 sqft
    Year built: 1997
    Walk Score®: 45
  2. 1 bed, 1 full bath
    Home size: 764 sq ft
    Year built: 1970
    Walk Score®: 55

See all Alberto Way.
(all data current as of 3/29/2017)

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

Los Gatos and Monte Sereno Homes Over $2,000,000

 

View Los Gatos homes for sale from $2 million and up. (All zip codes: 95030, 95032, 95033.) First, browse by map:

Or view a list – this displays homes most recently put on the market first.

  1. 5 beds, 5 full, 1 half baths
    Home size: 7,175 sq ft
    Lot size: 1.07 ac
    Year built: 2001
    Walk Score®: 0
  2. 4 beds, 3 full baths
    Home size: 2,450 sq ft
    Lot size: 28,314 sqft
    Year built: 1955
    Walk Score®: 16
  3. 5 beds, 3 full, 1 half baths
    Home size: 6,489 sq ft
    Lot size: 29.54 ac
    Year built: 1988
    Walk Score®: 3
  4. 4 beds, 3 full baths
    Home size: 2,678 sq ft
    Lot size: 14,897 sqft
    Year built: 1959
    Walk Score®: 23
  5. 5 beds, 4 full, 1 half baths
    Home size: 4,863 sq ft
    Lot size: 16,117 sqft
    Year built: 2009
    Walk Score®: 14
  6. 4 beds, 2 full, 1 half baths
    Home size: 2,514 sq ft
    Lot size: 12,022 sqft
    Year built: 1979
    Walk Score®: 18
  7. 4 beds, 2 full baths
    Home size: 2,715 sq ft
    Lot size: 1.01 ac
    Year built: 1950
    Walk Score®: 65

See all Real estate in the city of Los Gatos.
(all data current as of 3/29/2017)

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

Interested in buying a luxury or high end home in Los Gatos? Please contact me for a private, no obligation consultation.

Exquisite, expansive, remodeled Belwood home – 127 Belhaven Drive, Los Gatos

Looking for a turnkey Los Gatos home with room for everything? I have a beautiful new listing which is an extensively remodedl 5 bed, 3 bath plus office home with 2448 square feet on a big lot of 10,760 SF – and the yard is professionally landscaped!  Offered at $1,650,000.  MLS # ML81550702.

Hurry over to the open house events this weekend and check out 127 Belhaven Drive in the Belwood neighborhood, near Belgatos Park! This is truly gorgeous Los Gatos real estate and a wonderful opportunity to live in a great neighborhood close to the hills.

Open Saturday 2-20-2016 and Sunday 2-21-2016 from 1:30 to 4pm.  (Offers due Wed 2-24 at 11am please.)

Get all the details on the flier:  http://valleyofheartsdelight.com/agent_files/Flier_Belhaven_4-Sided.pdf

127 Belhaven Drive, Los Gatos CA - an extensively remodeled home!

 

127 Belhaven DR, LOS GATOS, CA 95032 (MLS # 81550702)

(all data current as of 3/29/2017)
Price $1,810,000
Beds 5
Baths 3 full
Home size 2,448 sq ft
Lot Size 10,759 sqft
Listing provided by Mary Pope-Handy, Sereno Group
This extensively remodeled home features a stunning kitchen with high end appliances (Miele, Wolf, Liebherr) and solid quartz countertop. All three baths are beautifully remodeled. The home includes remodeled fireplaces, built in cabinets, hardwood floors, recessed lights, crown molding, baseboard, dual pane windows and loads of natural light throughout. The house includes 5 bedrooms plus roomy office for 2 that could become a ground floor bedroom, 3 bathrooms (1 on 1st floor), living and dining rooms, a separate family room, and an attached 2 car garage (currently set up as a play room), plus loads of extra storage. The yard features a beautiful and professionally landscaped garden, spacious patio for outside dining, a custom built playhouse, and a sandbox area. The location can't be beat! Belgatos Park is 3-4 blocks away. This home is part of the Belwood community with Cabaña and pool membership. Close to Walgreen's, Starbucks, more! Open 2-17 9:30-12:30 and 2-20 & 2-21 1:30-4.

Property Type(s): Residential, Single Family Home

Last Updated 3/22/2016 Tract n/a
Year Built 1966 Community Los Gatos/Monte Sereno
Garage Spaces n/a County Santa Clara
Total Parking n/a Walk Score ® 35

Additional Details

Number of Full Bathrooms 3 HOA Fee 50
Year Built 1966 Zoning Text R-1

Features

Additional Listing Info Not Applicable / Not Disclosed
Additional Rooms Den/Study/Office
Amenities Misc. Skylight(s)
Association Fees Include or Tennis, Pools, Spa
Building Type Detached
Communications Cable TV
Construction Type Wood Frame
Cooling Whole House Fan
Dining Room Breakfast Nook, Formal Dining Room
Energy Features Attic Fan, Ceiling Insulation, Double Pane Windows, Energy Star Lighting, Low Flow Toilet, Skylight(s), Whole House Fan
Family Room Separate Family Room
Fencing Wood
Fireplaces Gas Burning, Gas Starter, Wood Burning
Flooring Carpet, Hardwood, Tile
Foundation Concrete Perimeter, Sealed Crawlspace
Garage Spaces 2
Garage_Max 2
Garage_Min 2
GarageParkingSpaces Attached Garage
Heating Central Forced Air - Gas
HOA Amenities Cabana, Community Pool, Organized Activities
Horse Property No
Kitchen 220 Volt Outlet, Cooktop - Electric, Countertop - Stone, Dishwasher, Exhaust Fan, Garbage Disposal, Hood Over Range, Microwave, Oven - Built-In, Oven - Double, Pantry, Refrigerator (s)
Laundry Hookup - Gas Dryer
Listing Class Residential
Listing Service Full Service
Lot Description Grade - Mostly Level
Restrictions None
Roof Composition
Sewer Septic Sewer - Public
Style Traditional
Subclass Single Family Home
Utilities Public Utilities
View Hills
Water Public
Yard/Grounds Back Yard, Balcony/Patio, Fenced, Sprinkler(s) - Auto

Location

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

(view all details for MLS #81550702)

What kind of a home can you buy in Los Gatos for $1.25 million?

How far does your money go in Los Gatos when it comes to buying a home? As always, location is the biggest factor – and within that arena, schools are often a driving factor on pricing.  Today we’ll look at real estate buying power of 1.25 million by zip code and high school district (95030, 95032, 95033).

For single family homes, the 95030 zip code with Los Gatos schools tends to be the priciest (this is probably at least in part because many home buyers find living near downtown LG to be very desireable). and the Los Gatos Mountains area tends to be the least expensive of the three areas.  As you can see in the chart below, the cost of housing is very much graded by both the zip code and the school district.

What can 1.25 mil buy you in Los Gatos?

What about the Los Gatos condo and townhome option – how much home can 1.25 million buy there?

In the last 90 days, there have been only 15 closings of townhouses and condos combined  in Los Gatos 95030 and 95032 (there are none in the mountains or the 95033 area) and in both high school districts, so that’s pretty scant info to go on.

 95030 & Los Gatos High – just one townhome sold at any price for $960,000 (list price was $949,000 with 1500 SF, 3 bed, 2.5 baths ($568.72 per SF) * Just one sale in here, and not “in range” makes this info less helpful than we’d like it to be.  Normally this area would be more expensive per SF.

95032 & Los Gatos High – just 4 condos and townhomes combined which sold between $1 million and $1.5 million (including a buyer sale of mine): av list price $1,042,667  and average sale price $1,075,667, average square footage 1464 and average price per sf $736.77

95032 & Leigh or Westmont High – 5 sales in the $1 mil – $1.5 million range, av list price $1,108,300 and av sale price $1,162,000.  Average home size 1,657  SF and average price per SF $708.77.

It is possible to get a nice Los Gatos home for under 1.25 million but if you want to live in downtown Los Gatos with the 95030 zip code and Los Gatos High, it will mean getting a small home!  You could get a larger place “in the schools” if you are OK purchasing a townhome.  Or go a little further out to get much more “home for the money” – quite a bit more if you go into the Los Gatos Mountains.

Contact Mary NowWant to buy a Los Gatos home?  Please contact me and we can set up a time to chat in person, confidentially: 408 204-7673 or email me: mary@popehandy (dot) com

Los Gatos houses for sale between $1,000,000 and $1,500,000

  1. 3 beds, 2 full, 1 half baths
    Home size: 1,900 sq ft
    Lot size: 14,984 sqft
    Year built: 1925
    Walk Score®: 46
  2. 2 beds, 1 full bath
    Home size: 1,000 sq ft
    Lot size: 4.36 ac
    Year built: 1915
    Walk Score®: 2
  3. 3 beds, 3 full baths
    Home size: 2,847 sq ft
    Lot size: 23,783 sqft
    Year built: 1952
    Walk Score®: 2
  4. 2 beds, 2 full, 1 half baths
    Home size: 1,348 sq ft
    Lot size: 2,003 sqft
    Year built: 2005
    Walk Score®: 80
  5. 3 beds, 2 full, 1 half baths
    Home size: 1,747 sq ft
    Lot size: 4,181 sqft
    Year built: 2005
    Walk Score®: 80

See all Real estate in the city of Los Gatos.
(all data current as of 3/29/2017)

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

Los Gatos condos and townhomes for sale between $1,000,000 and $1,500,000

  1. 3 beds, 2 full, 1 half baths
    Home size: 1,842 sq ft
    Lot size: 435 sqft
    Year built: 1984
    Walk Score®: 24
  2. 4 beds, 2 full, 1 half baths
    Home size: 1,691 sq ft
    Lot size: 2,003 sqft
    Year built: 1973
    Walk Score®: 29
  3. 3 beds, 2 full, 1 half baths
    Home size: 1,574 sq ft
    Lot size: 2,003 sqft
    Year built: 1973
    Walk Score®: 29
  4. 3 beds, 2 full, 1 half baths
    Home size: 2,230 sq ft
    Lot size: 1,524 sqft
    Year built: 1977
    Walk Score®: 8
  5. 2 beds, 2 full baths
    Home size: 1,440 sq ft
    Lot size: 2,482 sqft
    Year built: 1974
    Walk Score®: 28

See all Real estate in the city of Los Gatos.
(all data current as of 3/29/2017)

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

Charter Oaks townhome community

The Charter Oaks townhome community was built in 1973 and consists of 101 units on a verdant, green campus. Each townhome enjoys between 960 square feet and 1,760 sf, with the average being 1452. Lot sizes are small (1,920-3,205 SF, average is 2477 SF) as there is a lot of common, outdoors space to enjoy.

Charter Oaks townhome community

Charter Oaks Circle mapLos Gatans are drawn to Charter Oaks for many reasons. First, it offers well built homes that are thoughtfully designed in a beautiful setting. The community features include expansive greenbelt areas and a pool.

The location is a huge plus. It is located alongside the Los Gatos Creek Trail, making it an easy walking or bike commute to Netflix, a simple bike ride to Vasona or downtown Los Gatos, or a convenient route for a longer ride, jog, or stroll. To top it off, this area includes the highly regarded Los Gatos Schools and is close enough to the freeways to make commuting less stressful.

Every area has some location challenges. Because it’s close to two freeways, there’s a bit of noise from the highways but it’s not too bad. The other thing to know is that there’s just one road in and out, and trying to turn left from Charter Oaks Drive onto Lark Avenue can sometimes be frustrating as the cars just keep coming and there’s no traffic signal to help there.

Charter Oaks real estate pricing

Home sales in 2016 so far (3 as of this writing) have ranged between $1,075,000 and $1,135,000. As with every complex, some areas will sell for more than others. In this case, because the townhomes are fairly close to highway 17, some areas have road noise and will be a little less desirable.  Some will have better or lesser views, access to parking, natural light, and so on. The condition and size of the unit have an enormous impact on housing values too, of course.

 

Which streets are a part of Charter Oaks?

Includes streets are these: Walnut Hill Court, Charter Oaks Circle, Willow Hill Court, Cherry Hill Court, Almond Hill Court, Spruce Hill Court

Continue reading

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Mary Pope-Handy

Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805

Selling homes in
Silicon Valley, with
special focus on
Los Gatos

and nearby areas,
including
Monte Sereno,
Saratoga,
Campbell,
and the San Jose areas of
Cambrian and Almaden Valley

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