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

Los Gatos Real Estate Market 95030 and 95032 Update June 2010

June 06, 2010

The Los Gatos real estate market varies between the price points, areas, school districts and zip codes (and, where present, sale type – regular sale vs short sale or bank owned home).   Today we’ll update the market info for the homes for sale in Los Gatos (houses and duet homes, not the condo or townhome market).

First, here’s some data from my RE Report subscription for May sales in Los Gatos. (You can see the whole online report here.)   To get the months of inventory or absorption rate, simply divide the active listings by the solds in the month – so 156/29 = 5.37 months of inventory for Los Gatos.  It is just slightly inside the definition for being a seller’s market (6 months is balanced, less is a seller’s market and more is a buyer’s market). It is close to a balanced market in Los Gatos overall.

Trends At a Glance May 2010 Previous Month Year-over Year
Median Price $1,231,150 $1,275,000 (-3.4%) $1,012,000 (+21.7%)
Average Price $1,416,700 $1,333,370 (+6.2%) $1,111,280 (+27.5%)
No. of Sales 29 29 (0.0%) 20 (+45.0%)
Pending Properties 62 60 (+3.3%) 37 (+67.6%)
Active 156 130 (+20.0%) 160 (-2.5%)
Sale vs. List Price 97.5% 96.6% (+0.9%) 95.6% (+2.1%)
Days on Market 46 70 (-35.0%) 55 (-16.6%)

Next, we’ll break it down a little:  a look at the Los Gatos real estate market this week by zip code and price quartile for houses (and duet homes) – not condos or townhomes. Data from Altos Research, to which I have a subscription.  (You can get a weekly report for Los Gatos by zip code sent to you automatically….just email me and ask and I’ll set you up to receive it on auto-pilot.)

Let’s start with the numbers for the Los Gatos 95030 zip code area by price quartile.  Median price here refers to the median LIST price, not sold price. The quartiles each reference 25% of the market. The first quartile is the most expensive segment and the 4th is the least. What I find really helpful with this view is what size of home your money can buy and on what lot size.

Los Gatos, CA 95030 Real Estate Market Trends at a glance by price quartile June 6 2010
Please remember that these numbers mostly reflect listings, not sales.  If you just look at the days on market, it appears that the 95030 market is much better than the 95032 market.  But that is not really true.  More than half of Los Gatos is in the 95030 area but note the number of homes absorbed – just 3!  In the same time, though, for 95032 there were 19 homes absorbed.  So while the DOM is longer in 95032, homes are actually selling better in that part of town than in 95030! (My hunch is that it’s because of two things: first, homes in 95032 tend to be more affordable and second, there are more short sales available in 95032 so they are getting scooped up at a faster rate than regular sales.)

Let’s next look at pricing trends by Los Gatos zip code next.  First is the 95030 zip code area of Los Gatos with the median list prices for the last year.  Hurt the most is the luxury market.

Median list price of homes for sale in Los Gatos 95030

Same info but for the 95032 part of town – the median list price of houses for sale in Los Gatos, CA 95032:

Lastly, a look at the trend for “days on market” (DOM) of homes for sale in Los Gatos over the last year.  Has it gotten harder or easier to sell in the last 12 months in 95030 and 95032?

Average Days on Market for houses for sale in Los Gatos, CA 95030

For this part of Los Gatos, which tends to be the most expensive part of town, the DOM was rising until about March for all price points, then suddenly began to fall.  A market reversal?

In the 95032 part of town, here’s how the DOM looks over the last year:

Interestingly, the days on market for 95032 has seemed to be a lot less volatile with one exception: the most expensive homes in the 95032 zip code.  As a group, the DOM for 95032 is longer now than a year ago, which is also true for the 95030 part of town.  the recent movement has been downward, though, and this also changed starting at about March 1st for most parts of town.

Overall, it is close to a balanced market in Los Gatos.  Depending on the price point, zip code, school district and more, it could be a “hot seller’s market” or a “cold buyer’s market”.  If you are buying or selling a home in Los Gatos, it is very important to drill down to the micro-market that applies to your home to understand how to price your home to sell or how to structure your offer price to buy.

Feel free to shoot me an email or call me to chat about your buying & selling plans.  Please also check out my Valley of Heart’s Delight blog for comparative market info.

Thanks for reading,

408 204-7673
mary (at) popehandy.com

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

Privacy Policy

Mary's other sites
and blogs


ValleyOfHeartsDelight blog
Santa Clara County Real Estate,
especially the West Valley areas

Move2SiliconValley.com
Silicon Valley relocation info

popehandy.com
Los Gatos real estate
Silicon Valley real estate,
focus on home selling


Let's Connect




About the real estate search:

Use the widget below to browse properties which are for sale, under contract (pending) or sold. Want to view only homes which are available now? Use the "find a home" link on the menu above (next to the "home" button).

Search real estate listings


Listings in 95030

Listings in 95032

Listings in 95033

Categories

Site Statistics
  • Users online: 1 
  • Visitors today : 843
  • Page views today : 1,742