Los Gatos-Saratotoga Joint Union 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. This post is updated every month or two. 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 market might actually be empty in those tiers, 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 for the town as a whole with 95030 and 95032 zip codes still shows a strong sellers market, despite inventory continuing to increase since February (see the 3 charts below), likely in what is a typical seasonal pattern. While there is rapid turnover in the entry-level and mid-range price points, the high-end to luxury markets show significantly slower movement, although they are still very fast and much hotter than average. Homes listed at under $1.5 million, if you can find them, are flying off the market in about 3 weeks’ time.
And from about two months ago, back in April:
Here is the chart from February 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