sale price to list price ratio
Each month, we update the Los Gatos real estate statistics and market trends with the latest information on closed sales for the prior month. We’ll review the Los Gatos inventory of homes for sale, the number of homes sold and under contract, and of course the median sale price and average sale price of sold properties. There’s one report for single family homes, meaning houses and duet homes (duet meaning attached single family), and another for condominiums and townhomes. This report covers the 95030 and 95032 areas of town, but not the Los Gatos Mountains, which is zip code 95033 and consists of unincorporated areas in Santa Clara County and also Santa Cruz County. To make this comprehensive, I have two subscriptions that are utilized here: REReport and Altos Research. The first one uses sold / closed figures, and the latter one uses current listings (and is updated automatically each week).
This first chart is very interesting, as it reveals that the number of homes sold has dropped while average days on market have also fallen.
Los Gatos real estate statistics and trends from the RE Report
How’s the Los Gatos market? Real estate inventory and sales often slip in December, during the holiday season, and we saw some of that throughout Silicon Valley, including in the town of Los Gatos. Year over year, the median and average home prices are fairly stable. Despite increased inventory, the sales to list price percentage has gone up and average days on market remain low. This suggest a warming market.
The real estate numbers below reflect realty data gathered the first week of the month for the past month in Los Gatos 95030 & 95032. See the full REReport here.
|Trends at a Glance||MAY 2017||PREVIOUS MONTH||YEAR-OVER YEAR|
|Median Home Price||-7.1%||$1,950,000||$2,100,000||0.0%||$1,950,000|
|Average Sales Price||-5.2%||$2,128,200||$2,244,650||+3.0%||$2,065,370|
|No. of Homes Sold||+34.8%||31||23||+6.9%||29|
|Short Sales Sold||N/A||0||0||N/A||0|
|Active Short Sales||N/A||0||0||N/A||0|
|Sales Price vs. List Price||-3.1%||101.8%||105.2%||+0.4%||101.5%|
|Average Days on Market||-34.5%||26||40||-8.4%||28|
Los Gatos real estate statistics and market trends At A Glance
- Median home prices fell by 0.0% year-over-year to $1,950,000 from $1,950,000.
- The average home sales price rose by 3.0% year-over-year to $2,128,200 from $2,065,370.
- Home sales rose by 6.9% year-over-year to 31 from 29.
- Active listings rose 19.6% year-over-year to 116 from 97.
- Sales price vs. list price ratio rose by 0.4% year-over-year to 101.8% from 101.5%.
- The average days on market fell by 8.4% year-over-year to 26 from 28.
Compared To Last Month
- Median home prices slipped by 7.1% to $1,950,000 from $2,100,000.
- The average home sales price fell by 5.2% to $2,128,200 from $2,244,650.
- Home sales up by 34.8% to 31 from 23.
- Active listings increased 27.5% to 116 from 91.
- Sales price vs. list price ratio dropped by 3.1% to 101.8% from 105.2%.
- The average days on market dropped by 34.5% to 26 from 40.