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

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Los Gatos Real Estate Market Trends

January 11, 2011

December 2010 sales numbers in Los Gatos

December was a good month for sales of houses in Los Gatos, showing a dramatic 63% increase in the number of closed sales over the month before. Inventory was down sharply too, further increasing the odds of a sale in December.  With lower inventory and buyers jumping on interest rates as they began to creep up, it was a sellers market for this part of the Los Gatos real estate market.  For many more details, click on the link below.  A sumary of the number follows directly beneath it.

The Los Gatos Real Estate Market Trends Report: Single Family Homes (houses & duet homes)

December 2010:  Sales increased 63.2% from the month before, and were up 14.8% year-over-year. Prices slipped in Dec 2010 with the median price dipping 13% from the previous month, down 15% compared to last year. The average price fell 7.4%, a yearly loss of 10.3%. Inventory fell 26.7% from last month, and was down 10% year-over-year.

Trends At a Glance Dec 2010 Previous Month Year-over Year
Median Price $1,000,000 $1,150,000 (-13.0%) $1,176,000 (-15.0%)
Average Price $1,203,520 $1,299,320 (-7.4%) $1,342,370 (-10.3%)
No. of Sales 31 19 (+63.2%) 27 (+14.8%)
Pending Properties 39 48 (-18.8%) 31 (+25.8%)
Active 87 124 (-29.8%) 109 (-20.2%)
Sale vs. List Price 96.5% 94.5% (+2.1%) 96.8% (-0.2%)
Days on Market 69 75 (-7.5%) 59 (+17.2%)

The Condo market in Los Gatos is another story! December saw a slight improvement in market conditions but it remains a buyers market for Los Gatos condominium or townhouse buyers.  The prices (average and median) both slipped, as did the list price to sales price ratio, accompanied by a longer “days on market”, underlying the soft market.

The Los Gatos Real Estate Market Trends Report: Condominiums & Townhouses 
(aka condos & townhomes)

December 2010: Sales increased 12.5% from the month before, and were up 12.5% year-over-year.  Prices slipped in Dec 2010 with the median price dipping 7% from the previous month, down 7.4% compared to last year. The average price fell 6.6%, a yearly loss of 16.5%. Inventory fell 18.8% from last month, and was down 20.4% year-over-year.

Trends At a Glance Dec 2010 Previous Month Year-over Year
Median Price $520,000 $559,000 (-7.0%) $561,500 (-7.4%)
Average Price $493,267 $527,988 (-6.6%) $590,738 (-16.5%)
No. of Sales 9 8 (+12.5%) 8 (+12.5%)
Pending Properties 5 10 (-50.0%) 9 (-44.4%)
Active 34 38 (-10.5%) 40 (-15.0%)
Sale vs. List Price 95.2% 99.0% (-3.9%) 97.2% (-2.1%)
Days on Market 107 38 (+181.7%) 103 (+3.2%)

November 2010’s numbers for Los Gatos residential real estate sales – first for houses, then condos:

Trends At a Glance Nov 2010 Previous Month Year-over Year
Median Price $1,150,000 $1,080,000 (+6.5%) $1,360,000 (-15.4%)
Average Price $1,299,320 $1,305,570 (-0.5%) $1,412,730 (-8.0%)
No. of Sales 19 32 (-40.6%) 31 (-38.7%)
Pending Properties 48 45 (+6.7%) 46 (+4.3%)
Active 124 141 (-12.1%) 142 (-12.7%)
Sale vs. List Price 94.5% 96.4% (-1.9%) 96.2% (-1.8%)
Days on Market 75 33 (+127.0%) 63 (+19.0%)

Trends At a Glance Nov 2010 Previous Month Year-over Year
Median Price $559,000 $525,500 (+6.4%) $573,500 (-2.5%)
Average Price $527,988 $534,833 (-1.3%) $560,394 (-5.8%)
No. of Sales 8 6 (+33.3%) 8 (0.0%)
Pending Properties 10 6 (+66.7%) 10 (0.0%)
Active 38 44 (-13.6%) 43 (-11.6%)
Sale vs. List Price 99.0% 96.0% (+3.1%) 96.5% (+2.6%)
Days on Market 38 101 (-62.6%) 95 (-60.1%)

The real estate market will vary based on zip code, school district, price point, square footage of home & land etc., so this is only a very broad overview.  Information for your home’s segment of the market could be very different.  For instance, there’s a huge difference betwen the luxury home market and the entry level markets in Los Gatos.  Often there’s a big gap between a “walk to town” home and one that’s remote. So too with “sale type”: regular vs short sale vs bank owned. Loads of variables.  Please contact me for specific info on your area or part of the market.

Want a longer timeframe, such as annual or quarterly report, or the performance of the market going back a few years?  You can view the 2010 annual report, qua
rt
erly reports or view sales around any address in Santa Clara County (Campbell, Saratoga, San Jose and also areas of San Jose such as Cambrian Park or Almaden Valley) by visiting
www.popehandy.rereport.com.

To see the most recent posts or articles on this topic, please click here:
Los Gatos Homes & Housing Market

Interested in selling or buying a home in Los Gatos? Please call or email me today!
Mary Pope-Handy, Realtor, Sereno Group
408 204-7673  mary (at) popehandy.com

Selling Your Home in a Rainy El Ni

January 19, 2010

Lightning is flashing, thunder is rumbling, the rain is coming down and instead of hibernating, you are trying to sell your home.  With a front yard saturated and soupy, what can you do to make your home inviting and pleasing to the serious home buyers who brave this kind of soggy winter weather?

Winter home selling poses some challenges, and all of them are exaggerated in a year like this El Ni

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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