Los Gatos Real Estate
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 more active and fewer sold and pending. The sales to list price percentage has remained very stable and average days on market remain 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||Jul 2017||Previous Month||Year-over-Year|
|Median Price||$2,075,000 (+1.1%)||$2,052,000||$1,758,890 (+18.0%)|
|Average Price||$2,237,580 (-3.6%)||$2,320,190||$1,945,330 (+15.0%)|
|No. of Sales||38 (-30.9%)||55||35 (+8.6%)|
|Pending||29 (-31.0%)||42||24 (+20.8%)|
|Active||68 (+7.9%)||63||91 (-25.3%)|
|Sale vs. List Price||103.7% (+0.2%)||103.5%||100.7% (+3.0%)|
|Days on Market||24 (+20.1%)||20||29 (-16.9%)|
|Days of Inventory||54 (+61.6%)||33||78 (-31.2%)|
And the chart from last month for reference:
|Trends At a Glance||Jun 2017||Previous Month||Year-over-Year|
|No. of Sales||53||31||27|
|Sale vs. List Price||102.5%||101.8%||99.7%|
|Days on Market||20||26||31|
|Days of Inventory||31||58||68|
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-$2.5 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
If you’ve been house hunting for a turnkey property with highly regarded Los Gatos schools, you’ll be happy to hear about my newest listing at 126 Charter Oaks Circle.
This is a sunny, updated & remodeled 3 bed, 2.5 bath townhouse with approximately 1574 SF in the beautiful Charter Oaks townhome community! It is offered at $1,125,000. A turnkey property, 126 Charter Oaks Circle includes many amenities:
- dual pane windows
- engineered hardwood floors (less than 2 years old)
- newly remodeled hall bath (in 2017)
- newly remodeled master bath (in 2017)
- vaulted ceilings
- air conditioning
- recessed lights
- ceiling fans in bedrooms
- kitchen updated in late 2016 with quartz counters, tile back splash, and stainless appliances and sink.
- open concept floor plan
- private front courtyard with slate patio and double door entry
- master suite includes a deck with greenbelt view
- large powder room also accommodates laundry
- washer, dryer and fridge all stay
- 2 car garage
Easy commute location with quick access to both Highway 85 and Highway 17. Enjoy the Los Gatos Creek Trail, which is steps away, or relax at the Charter Oaks community pool.
Fantastic, highly rated Los Gatos Schools: Blossom Hill Elementary, Fisher Middle, Los Gatos High.
Open house schedule for 126 Charter Oaks Circle:
From Lark Avenue, turn north onto Charter Oaks Drive, then left onto Charter Oaks Circle. You will see the Sereno Group “for sale” sign near the garage. Please use the guest parking spaces and do not block any driveways when viewing the home.
We're sorry, but we couldn't find MLS # 81643002 in our database. This property may be a new listing or possibly taken off the market. Please check back again.
Most 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
Sorry, but we couldn't find any results in the MLS that match the specified search criteria.
The Los Gatos real estate market is really a collection of smaller markets rather than one market that behaves uniformly across home sizes, zip code, price point, school district, proximity to downtown, walk-ability, and much more. An entry level condo will be a different “market” than a $5 million estate. But so do will a perfectly preserved Victorian in one of the historic districts be a different “market” than a ranch style tract home in a tract neighborhood. Today we’ll discuss the major drivers of value and pricing in the Los Gatos real estate market – or markets. (To learn how the market is doing, please use the links at the bottom of this article.)
Why Los Gatos zip codes really aren’t ideal for understanding the local market
Many of the large, national websites use zip codes as a way of keeping a pulse on the housing market. Zip codes in our fair town are kind of wonky, though, and often not the best way to track changes in inventory, absorption, sales price to list price, or other data points.
- 95030 is mostly Los Gatos and Los Gatos schools, but part has Campbell schools.
- 95030 is also the main zip code for Monte Sereno, and most of that has Los Gatos schools, but not all! Some are in the area served by Campbell schools.
- 95032 is mostly Los Gatos with either Campbell Elementary (west side of town) or Union Elementary (east side of LG), but some is in the Los Gatos Union School District
- 95032 has a sliver of Monte Sereno and 100% of it (maybe 150 homes) is within the Campbell Elementary area.
If you are using something like Altos Research, though, just remember that only most of 95030 is “in the schools” and most of 95032 isn’t. If your house is in 95032 but has Los Gatos Union School District, pay better attention to the 95030 info.
Want more info on the LG zips? See http://liveinlosgatosblog.com/los-gatos-zip-code-maps/
Major housing price drivers are the schools and proximity to downtown Los Gatos
Folks living in any of the downtown Los Gatos areas, or close in Monte Sereno neighborhoods, enjoy a double bonus of both the highly prized Los Gatos Union School District and also being close to downtown, often with very charming historic districts as part of the package. These areas are often the most expensive, if comparing homes of similar size, age, lot size, remodeling, etc., as compared to properties further north or even more, at the far eastern or western ends of town.
Measuring Los Gatos home prices by school district
I ran the numbers for the school district, using a hypothetical 1750 SF – 2250 SF house on a lot of 7000-9000 square feet in Los Gatos 95030 and 95032. So think of it as a 2000 SF home on an 8000 SF lot.
In the last 120 days (as of July 27 2016), 11 such houses have sold throughout these 2 zip codes in Los Gatos and the average price per square foot was $802. (The number would likely be higher in Monte Sereno.)
Of the 11, five have been in the area served by the Los Gatos Union School District, and the average price per SF in that area was substantially more at $933 per SF.
The remaining 6 are in the areas of the far west or far east of town, within the areas for Campbell Elementary or Union School District. Average price per SF for this area is $752. (All but one are in the Leigh area, so cannot break it down further.)
Measuring Los Gatos real estate costs by proximity to downtown
Harder is defining “close to town”, but again we’ll try, using similar criteria as much as possible Continue reading
Earlier this week, the Los Gatos Town Planning Commission recommended that the proposed Grosvenor development in the “North 40” be denied by the Los Gatos Town Council. Reasons cited are that it does not appear to be in conformity with the town’s plan for that large parcel.
The Mercury News reports that:
In advising against approval, the commission’s majority found that the project — being led by Grosvenor in partnership with SummerHilland Eden Housing — was “not consistent” with the town’s land-use guidelines in four ways: It doesn’t address unmet housing needs in the town for seniors; it doesn’t adequately incorporate hillside views in the layout in conformance with town open-space guidelines; it relied on a flawed economic study of its impact on downtown Los Gatos; and its density is too high on a portion of the site.
The first phase of the project would include 320 housing units (including 50 affordable units for seniors) and 66,000 square feet of retail.
Read the whole article here:
Looking to buy a home near Los Gatos High School? Below please find a map search displaying available residences from the MLS of houses, townhomes, and condos which are within 1 mile of LGHS, which is located at 20 High School Ct, Los Gatos, CA 95030. Properties close to this iconic landmark enjoy not just easy school access, but also everything that the downtown has to offer: restaurants, shops, the civic center and new library, and of course the many events that take place there each year. Some of these properties will be historic homes.
Want to see more listings? Please use the search fields in the sidebar to get wider results of Los Gatos homes for sale.
Last week (on April 6th) I pulled the statistics for available houses or single family homes for sale in Los Gatos and Monte Sereno (95030 and 95032, not the Los Gatos Mountains 95033). We have been experiencing a very palpable shortage of inventory. Below please find a graph to visually demonstrate where we are, and then the data in numbers so you can see each month compared to the years prior.
And next, the numbers themselves. I particularly like this way to view info as it provides a way of seeing what inventory has been like for the same month in prior years very easily and it also enables the viewer to get a sense of the normal patterns that the local real estate market tends to follow (albeit with some fluctuation). It’s easy to see that the lowest months for inventory tend to be in winter and the peak months are usually in the middle of the summer.
For our current year, this view offers a way of validating that inventory really is low. In March we had 68 houses for sale, but in March 2015 it was 70, March 2014 it was 84 and the numbers rise for each year going back until we see the largest inventory in 2009 at 260 – a very deep seller’s market here.
Is inventory low? Yes, it is – there have been very few months since January 2002 in which home buyers have had so little choice and home sellers such a good opportunity to sell.
(Please note small error on this image – the data was pulled April 6th, not April 10th, but the data should be unchanged.)
Alta Vista is a scenic neighborhood which includes homes in both the Cambrian Park neighborhood and the Town of Los Gatos. For many reasons, this area is highly valued and sought after. For this article, we’ll focus on the neighborhood immediately adjacent to the school, not the entire “area of school attendance.”
What makes Alta Vista so attractive? First, it’s convenient. The high performing schools are easy to walk or bike to without crossing any major roads. Almost as close is a good-sized Safeway, a coffee shop, and other stores and eateries at the nearby Downing Center. It’s easy to get to Highway 85 from Union Avenue, too. As a bonus, the location is popular because of it’s vicinity to Los Gatos with the lower price point of San Jose (for most of the neighborhood).
Second, it’s scenic. Alta Vista has its fair share of visual appeal as well, with many streets lined with beautiful and mature trees, Ross Creek running along one border, and views of the nearby Blossom Hill and coastal range behind it. South of Blossom Hill on the Los Gatos side, it’s not far to the foothills with their trails and parks. Yards and homes are well kept and tidy, as are the streets. Parking near the schools only becomes a problem during school functions a few times a year (and of course at drop off and pickup times).
Simply put, Alta Vista is a scenic neighborhood with great schools and a convenient location. That’s a winning combination.
Above and below: a couple of homes along Blossom Valley Drive.
To see some images of the neighborhood, feel free to check out the video slideshow just below – please note that this was made in 2009 for the first Alta Vista post on my other blog and that, while the neighborhood as a whole has not changed, things may look a little different. For instance, the new home construction shown in the slide looks much more attractive and lived in now that it has been a few years, and the shopping center has undergone some significant remodeling.
Please continue reading for a map of the Alta Vista neighborhood, major landmarks, info on the Alta Vista real estate market, homes for sale in Alta Vista, and more.
When the San Bruno fire and explosion occured, many Bay Area residents wanted to find out where PG & E’s major gas pipelines were located. Rightfully so, as there’s a risk associated with being too close to a major gas artery.
What about water transmission lines – the large distribution pipelines? Water, too, must come to neighborhoods and do so via distributory pipes. As with any infrastructure, repairs and replacement will sometimes be necessary. And at times, the need for the work will become apparent only when there’s a problem. The Santa Clara Valley Water District reports that it has 140 miles of pipelines. There are periodic failures and leaks – google the question and you will see repairs in the last 5 years in various parts of Santa Clara County. Today’s San Jose Mercury News sports a front page article on an 8 foot high, 31 mile long pipe which suffered an enormous leak last summer. This pipe supplies about 40% of the drinking water to Santa Clara County. Luckily, where the breach happened the property damage was minimal – only a meadow flooded as it was near Casa de Fruta along Pacheco Pass. The Merc tells us this:
On Aug. 1, a section of the underground pipe suffered “catastrophic failure,” sending 15 million gallons of water into a cow pasture near Casa de Fruta along Highway 152, according to water district staff reports.
At 5:30 that morning, water district technicians at the Rinconada Treatment Plant in Los Gatos noticed a sudden change in pressure. Realizing they had a break, they shut off valves and stopped the gusher within an hour.
How fortunate that this major break happened in a rural area. But I find myself wondering, as with the gas pipeline, if instead of flooding a meadow, could it have destroyed homes? Of course. Fifteen million gallons spewed over just one hour could be devastating.
That said, I suspect that most of the distribution lines going into neighorhoods are not as big as this transmission line, which sounds like the major artery for our area.
Where are the distributory pipelines in Los Gatos, and in the San Jose area generally?
Home owners don’t usually know where these lines are, and home buyers are unlikely to learn their whereabouts.
If you are buying a home in Silicon Valley, you will be given a Preliminary Title Report and that will include easments relating to the property in question. If a water distribution pipeline is on or next to your property, it would likely show up on that report and visible on the plat map.
If the distributory pipeline does not create an easement, though, it is very likely that it will not be disclosed because the home owners usually do not have the slightest idea of its existence or proximity. We have natural and environmental hazard reports to let us know about earthquake faults, underground water contamination, and many other important things, but to the best of my knowledge, the location of large water lines is not included. I have looked all over the Santa Clara Valley Water District’s website to see if they offer a map of the distribution lines, but I’m not finding them. I’ll inquire, do some more research, and hope to add to this discussion soon.
If you have info on this topic, please email me. (I’ve had to disable comments because I was getting 1,000 spam comments to 1 real one.)