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

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, 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). Houses for sale with Los Gatos schools tend to be more pricey than those in neighboring school districts. This isn’t just the schools, but is also a function of being closer to downtown Los Gatos. The lowest priced homes in this area are seldom listed for less than $1 million. The fastest movement is in the lowest price range, $1.5-$2.5 million range, and it’s as tough as ever for buyers! Anything between $1-$4 million is showing unusually fast turnover, except for a the $3-$3.5 million range which has been significantly slower for the last few months. Meanwhile, the $4 million and up market has inventory, but zero sales means there’s no demand. The luxury sector is moving elsewhere.

And the chart from last month:

As you can see, this area is still in a clear sellers market, though different price points may be hotter or colder than the average. Generally, it remains a good time for sellers while, for buyers, it’s tough competition.

The real estate market for homes with Campbell Union High School District only

And finally, let’s see how the market is within the area of LG which is served by the Campbell Union High School District (Leigh HS and Westmont HS).

Here it is sometimes possible, though not common, to find a Los Gatos home for under $1 million. When you do, either it needs work, is ultra small, is on a busy road or has some other location issue, or perhaps is simply land value. This target is the “sweet spot” of the Los Gatos real estate market – homes in the Campbell Union High School District listed between $1 and $2 million (neighborhoods such as Belwood of Los Gatos and Belgatos in east Los Gatos). Because of the strong sellers market, these types of houses have been rare over the last year and selling faster and higher than ever. Buyers still struggle against tough competition.

Usually the Campbell school district is not as strong as the Los Gatos-Saratoga District. That’s definitely true this month, but it hasn’t always been the case, even recently. This area has a very different dynamic. Where homes in the Los Gatos-Saratoga District often sell steadily up to the luxury market, homes in the Campbell Union District generally only sell within a tight range in the lower price points, and usually only keep up with the rest of Los Gatos in the most affordable entry-level market, as the chart shows. You can see in the current chart that the most active by price point is lower and faster in this district than in Los Gatos schools. That being said, there has been some movement in the luxury market, though it’s a much smaller part fo the market than the more affordable homes in this area.

And the chart from last month:

 

What can we take away from this study of the months of inventory? It’s only one data point, but it indicates that properties priced between $1,000,000 and $2,000,000 range in Los Gatos have very high odds of selling in about one month – better than normal turnover – and that homes are generally selling well up to $4,000,000 in Los Gatos schools and up to $3,000,000 out. Luxury homes in the Campbell Union district are selling more than in Los Gatos schools. It’s still a strong seller’s market in Los Gatos.

Part of what I see happening (in Los Gatos, Almaden, Saratoga and elsewhere) is that more sellers are putting their homes on the market in less than best condition. This isn’t happening only in Los Gatos, but throughout Silicon Valley. Sellers hear that it’s a sellers market, so some do not put the effort in. For those who do, and who price the home aggressively, sales are quicker and tend to come with multiple offers, especially in the lower price points.

Altos Research market data for Los Gatos 95030 and 95032

Note: Altos uses list prices, not sold prices.

 

Next, the 95032 area of Los Gatos (much of which is in the Campbell Union HSD, but not all).

 

Want more info on Los Gatos or nearby areas such as Monte Sereno, the Los Gatos Mountains, Saratoga, San Jose or? Please have a look at my Real Estate Report, which is updated around the 5th-10th of each month with the statistics for the closed sales in the prior month: http://www.popehandy.ReReport.com, or my summary of this report in the post Los Gatos real estate statistics and market trends, updated monthly. Interested in other nearby markets? Check out these articles on my Valley of Hearts Delight blog:

Saratoga CA real estate market update

The Cambrian Park real estate market update

The Campbell real estate market

and many more areas: Blossom Valley, Willow Glen, Cupertino, Sunnyvale, Mountain View etc. can be found there also:  http://www.SanJoseRealEstateLosGatosHomes.com

Los Gatos  & Los Gatos Mountains Homes for Sale

  1. 5 beds, 4 baths
    Home size: 3,056 sq ft
    Lot size: 1.09 ac
    Year built: 1957
  2. 4 beds, 3 baths
    Home size: 2,715 sq ft
    Lot size: 11,525 sqft
    Year built: 1978
  3. 4 beds, 3 baths
    Home size: 2,460 sq ft
    Lot size: 7,000 sqft
    Year built: 1968
  4. 7 beds, 7 baths
    Home size: 12,500 sq ft
    Lot size: 1.20 ac
    Year built: 2017
  5. 3 beds, 2 baths
    Home size: 1,494 sq ft
    Lot size: 1,398 sqft
    Year built: 1972

See all Real estate in the city of Los Gatos.
(all data current as of 8/17/2017)

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

Monte Sereno  Homes for Sale

  1. 4 beds, 3 baths
    Home size: 2,151 sq ft
    Lot size: 15,320 sqft
    Year built: 1956
  2. 4 beds, 4 baths
    Home size: 3,840 sq ft
    Lot size: 18,800 sqft
    Year built: 2007
  3. 4 beds, 4 baths
    Home size: 2,735 sq ft
    Lot size: 7,361 sqft
    Year built: 1949
  4. 3 beds, 2 baths
    Home size: 1,862 sq ft
    Lot size: 12,218 sqft
    Year built: 1968
  5. 5 beds, 5 baths
    Home size: 5,100 sq ft
    Lot size: 1.00 ac
    Year built: 1977

See all Real estate in the city of Monte Sereno.
(all data current as of 8/17/2017)

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

Saratoga Homes for Sale

  1. 4 beds, 3 baths
    Home size: 2,154 sq ft
    Lot size: 10,162 sqft
    Year built: 1950
  2. 4 beds, 4 baths
    Home size: 2,554 sq ft
    Lot size: 12,479 sqft
    Year built: 1972
  3. 3 beds, 2 baths
    Home size: 1,645 sq ft
    Lot size: 9,583 sqft
    Year built: 1956
  4. 3 beds, 3 baths
    Home size: 2,320 sq ft
    Lot size: 2,347 sqft
    Year built: 2017
  5. 5 beds, 3 baths
    Home size: 3,187 sq ft
    Lot size: 3,388 sqft
    Year built: 1990

See all Real estate in the city of Saratoga.
(all data current as of 8/17/2017)

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

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 : 457
  • Page views today : 529