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

Los Gatos 95032

Critically Low Inventory of Homes for Sale in Los Gatos

As of yesterday, May 1st 2017, the MLS shows just 67 houses for sale in Los Gatos, 95030 and 95032.  (Today it’s lower still at a mere 54 houses.) The chart below is based on the number of active listings in Los Gatos 95030 & 95032 (MLS Area 16) on the first of each month going back to January 2007.  Take a look at the history of homes for sale (not pending or in contract) month over month – I’ve circled all of the rows for May in each year to see the contrast.

 Los Gatos 95030 and 95032 active listings single family homes

What can someone buy in town right now?  Of the 54 houses, 30 are priced at $3 million or less, with many homes available to purchase around  $1.5 to $3 million.  The least expensive home available right now is an 1100 SF house in original condition for $1.3 million.

For people thinking of selling, this is an excellent opportunity, generally, since few homes available creates the scarcity that lends itself toward homes selling faster and for more (if there are multiple offers especially).  Homes under $3 million are selling briskly.

See more information about the Los Gatos real estate market via my online Real Estate Report. Also available, download the 4 page printable report here:
http://rereport.com/scc/print/Mary.PopeHandySCC.pdf

90-day stats for Single Family properties in
LOS GATOS, CA 95030 as of August 11, 2017
Median List Price:$3,271,231Average List Price:$4,115,233
Total Inventory:27Price per Square Foot:$993
Average Home Size:3,427Median Lot Size:44,465
Average # Beds:4.07Average # Baths:3.60
Homes Absorbed:3Newly Listed:3
Days on Market:122Average Age:48

90-day stats for Single Family properties in
LOS GATOS, CA 95032 as of August 11, 2017
Median List Price:$2,751,448Average List Price:$3,162,080
Total Inventory:35Price per Square Foot:$806
Average Home Size:3,313Median Lot Size:13,423
Average # Beds:4.33Average # Baths:3.88
Homes Absorbed:7Newly Listed:6
Days on Market:84Average Age:33

What does a million dollars buy you in Los Gatos 95030, Los Gatos 95032, and nearby areas: Saratoga, Almaden, Cambrian, Campbell, Cupertino?

How far does your money go in Los Gatos, whether 95030 or 95032, and how does that compare to our nearby neighbors of Saratoga, Almaden, Cambrian, Campbell, Cupertino or San Jose, generally? Today I am snagging a chart from my Altos Research Reports which give a good sense of what a million dollars (or other amounts) can get for you in these areas. These charts use LIST PRICES, and remember, the sales prices are often different (frequently more!). Let’s have a look.

Los Gatos 95030

This is the more central part of town, the area closest to downtown Los Gatos and most of it is “in the schools”. Here a million dollars is unlikely to get you a house at all, though it could be something small that needs a lot of work if not in the downtown area…maybe….

Los Gatos 95030 profile of homes by price quartile

 

Los Gatos 95032

Conversely, although about 1/3 of this area is in the Los Gatos Union School District, most of it is not, and this area is usually (though not always) further out so less expensive for both reasons. Interestingly, the high end prices aren’t so far apart between 95030 and 95032 from this vantage, but the gap widens a lot at the bottom quartile. In 95032 a million will get you a small house, most likely in east Los Gatos (west is a little more expensive, usually) – and it will probably need work. Something to note is that all of the elementary and middle schools in Los Gatos, no matter which school district, are high scoring, high performing institutions. The scores do change at the high school level pretty noticeably. But the improving schools in the further out areas of LG, especially in east Los Gatos, is causing the pricing gap to shrink somewhat.

Los Gatos 95032 profile of homes by price quartile

So in Los Gatos, $1 million is unlikely to get you a house, though it may if it is small and not too close in to downtown (or if you are buying land value).

Continue reading

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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