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 rise in the summer. We saw some of that throughout Silicon Valley, including in the town of Los Gatos. Year over year, the median and average home prices have seen increases. Inventory shows fewer active and more pending. The sales to list price percentage has remained very stable and average days on market remain fairly low. This suggest a stable seller’s 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||Aug 2017||Previous Month||Year-over-Year|
|Median Price||$2,297,500 (+10.7%)||$2,075,000||$2,098,000 (+9.5%)|
|Average Price||$2,742,170 (+22.6%)||$2,237,580||$2,551,460 (+7.5%)|
|No. of Sales||32 (-15.8%)||38||23 (+39.1%)|
|Pending||47 (+62.1%)||29||30 (+56.7%)|
|Active||52 (-23.5%)||68||82 (-36.6%)|
|Sale vs. List Price||101.1% (-2.5%)||103.7%||97.2% (+3.9%)|
|Days on Market||43 (+77.4%)||24||46 (-6.6%)|
|Days of Inventory||49 (-9.2%)||54||107 (-54.4%)|
And the chart from last month for reference:
|Trends At a Glance||Jul 2017||Previous Month||Year-over-Year|
|Median Price||$2,075,000 (+1.1%)||$2,052,000||$1,758,890 (+18.0%)|
|Average Price||$2,237,580 (-3.6%)||$2,320,190||$1,945,330 (+15.0%)|
|No. of Sales||38 (-30.9%)||55||35 (+8.6%)|
|Pending||29 (-31.0%)||42||24 (+20.8%)|
|Active||68 (+7.9%)||63||91 (-25.3%)|
|Sale vs. List Price||103.7% (+0.2%)||103.5%||100.7% (+3.0%)|
|Days on Market||24 (+20.1%)||20||29 (-16.9%)|
|Days of Inventory||54 (+61.6%)||33||78 (-31.2%)|