The Monte Sereno real estate market
The City of Monte Sereno is quite small, with just about 4,000 residents, so the number of houses sold in any given month will always be extremely small. For that reason, the data may appear to jump around wildly compared to Los Gatos or Saratoga, which each have about 30,000 people living there. Please take all the stats with a tablespoon of salt, and be sure to view the Los Gatos housing market data to get a more accurate picture of what’s happening with Monte Sereno homes (just add a little to the price tag as homes there tend to sell for a bit more than LG properties).
Something else to be aware of is that most houses are in the Los Gatos Union School District, but a small pocket of properties lies within the Campbell School District. Those with Campbell schools usually sell for a little less. Additionally, most of this city is within the 95030 zip code, but again, there’s a small pocket which is in the 95032 area.
Finally, there are only houses in this cities – condos, townhomes, or any other type of housing – and there are no businesses, either. Being 100% residential and single family homes most likely has a large impact on the home values here, though in many areas of Silicon Valley, being in “walking distance” to a coffee shop or grocery store can be a huge plus.
Disclaimers aside, here’s the most recent info:
- Median home prices increased by 8.6% year-over-year to $2,500,000 from $2,301,500.
- The average home sales price rose by 0.8% year-over-year to $2,500,000 from $2,479,830.
- Home sales fell by 83.3% year-over-year to 1 from 6.
- Active listings rose 100.0% year-over-year to 8 from 4.
- Sales price vs. list price ratio rose by 5.8% year-over-year to 109.2% from 103.2%.
- The average days on market fell by 9.2% year-over-year to 21 from 23.
Compared To Last Month
- Median home prices improved by 4.1% to $2,500,000 from $2,401,000.
- The average home sales price rose by 3.5% to $2,500,000 from $2,415,330.
- Home sales down by 66.7% to 1 from 3.
- Active listings dropped 38.5% to 8 from 13.
- Sales price vs. list price ratio increased by 22.2% to 109.2% from 89.4%.
- The average days on market dropped by 38.1% to 21 from 34.
|Trends at a Glance||DEC 2016||PREVIOUS MONTH||YEAR-OVER YEAR|
|Median Home Price||+4.1%||$2,500,000||$2,401,000||+8.6%||$2,301,500|
|Average Sales Price||+3.5%||$2,500,000||$2,415,330||+0.8%||$2,479,830|
|No. of Homes Sold||-66.7%||1||3||-83.3%||6|
|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||+22.2%||109.2%||89.4%||+5.8%||103.2%|
|Average Days on Market||-38.1%||21||34||-9.2%||23|
Another great source of realty trends is Altos Research, to which I also have a subscription. Altos uses list prices, though, whereas the RE Report uses sold. What I really love about these reports, though, is that market can be viewed by price quartiles, as sometimes the luxury market in an area may be behaving very differently from the entry level market. The charts below are dynamic and will be updated weekly.
About 95% or more of Monte Sereno is in the 95030 zip code. To get a little more info from Altos with the live charts, please continue viewing info here: http://liveinlosgatosblog.com/hows-the-market/altos-research-live-charts-for-monte-sereno-95030/
Next, what kind of home is available to purchase in Monte Sereno now?
Monte Sereno Homes for Sale
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