Pricing difference for Los Gatos homes “with the schools” versus Union or Campbell schools

What is the pricing difference between homes with the Los Gatos Union School District and those with either Union Elementary School District or the Campbell union Elementary School District? It is not huge, but it is noticeable.

For this study I wanted to compare similar sized homes and lots in various parts of Los Gatos 95030 and 95032.  Extremely narrow parameters resulted in too small of a group, and I ended up using 2000 – 3000 SF houses on lots of 9,000 – 11,000 SF. There were 27 such single family homes sold in 2021, so not a large group. It is spread throughout the year since when I attempted to narrow it just to one quarter there were not enough homes.

Additionally, I wanted to look at three specific neighborhoods to check the pricing difference between them and their respective school districts as a whole. For this I selected the Old Adobe Road area in West Los Gatos, Blossom Manor with the Los Gatos Union School District, and the Belwood-Belgatos-Surmont area with the Union School District in East Los Gatos.

Here are the results of the 2021 pricing differences study (please note that homes may cost considerably more today as values are up quite a lot from last year):

2021 Los Gatos Sales by Elementary School District - pricing differences

 

Homes with Los Gatos Schools are the most expensive, followed by the homes in West LG, and then just a hair behind them are houses in East LG.

In the highest demand, as measured by the sale price to list price ratio, were the homes in Blossom Manor. That’s easy to understand because it’s a close to everything location, including Blossom Hill Elementary, Blossom Hill Park, and loads of shops, stores, coffee houses, and restaurants.

Next highest in demand for neighborhoods is the Belwood, Belgatos, and Surmont area, which offers the biggest bang for your buck in town.

What is the pricing difference for homes in these 3 school districts?

Pricing difference on a hypothetical 2300 SF house

If we use a mythical 2300 SF house, here’s how the dollars would shake out:

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The Monte Sereno real estate market

Monte Sereno Stained Glass Click HereThe City of Monte Sereno is a popular community bordering Los Gatos, Saratoga, and the Santa Cruz mountains. It’s also quite small, with just about 3,500 residents, so tracking the real estate market trends for the area can be tricky.

The number of houses sold in any given month will always be extremely small and the data will jump around. Checking the Los Gatos market will also help, but the best pulse on the market will come from particular sales in particular neighborhoods.

Near the bottom, there are a few charts that I pulled from the MLS directly. Be sure to scroll down to see them.

First up for the market analysis is the Altos Research weekly profile for Monte Sereno (uses list prices, not sales). This is updated automatically, so feel free to check this article weekly to see what’s happening now with list prices.

 

 

Below is the Monte Sereno Real Estate Report (click to view the complete Real Estate Report).

Trends at a Glance from the RE Report:

The December chart shows home prices are up and inventory is down. The sale price to list price ratio and the days on market look a little cooler than the month before, but both are still showing a highly competitive market climate.

Trends At a Glance Dec 2021 Previous Month Year-over-Year
Median Price $5,100,000 (+27.5%) $4,000,000 $3,462,500 (+47.3%)
Average Price $5,447,160 (+11.2%) $4,900,330 $3,364,170 (+61.9%)
No. of Sales 5 (+66.7%) 3 6 (-16.7%)
Pending 6 (-25.0%) 8 2 (+200.0%)
Active 2 (-66.7%) 6 5 (-60.0%)
Sale vs. List Price 103.7% (-1.3%) 105.1% 96.6% (+7.3%)
Days on Market 10 (+33.0%) 8 39 (-73.5%)
Days of Inventory 12 (-79.3%) 58 25 (-52.0%)

 

MLS info pulled directly: the charts below all were pulled from MLS Listings.com

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Home prices by elementary school district

What is the difference in home prices by elementary school district in Los Gatos?  Here are the December statistics. Normally we’d like to see at least a couple of dozen home sales to be sure of market trends, but in the Los Gatos Mountains there were only two closed sales last month. Expensive homes can be in the mountains, of course, but most of the time, your money will go farther there than down in the valley.

Please click on the image below to see a larger view of Santa Clara County home prices by elementary school district:

 

Chart of home prices by elementary school district

Campbell Union Elementary District covers not just the West side of Los Gatos, but also Campbell and a portion of Saratoga. The median sale price is a little higher than in East Los Gatos, but the price per square foot was lower. That surprised me, given that the average home size was pretty close from one area to the next.

If you enjoy data, please check out our monthly newsletter, published yesterday, and sign up if you’d like to get it in your email each month:
Mary Pope-Handy and Clair Handy’s monthly real estate market newsletter for Santa Clara County

You may also like to check out our monthly article on the Los Gatos real estate market trends and statistics on this site, too.

Related reading: Pricing difference for Los Gatos homes “with the schools” versus Union or Campbell schools

Los Gatos real estate market trends and statistics

The Los Gatos real estate market has never been hotter.

  • SELLERS: Homes that could not sell a few months ago or a few years ago are selling fast, with multiple offers, and often with large overbids.  (If you have a “problem property”, this is THE MARKET for selling it.)
  • BUYERS: if a home you like comes on the market, do not wait until the weekend to see it. It may be gone by then. Not every listing agent gives the property a full week on the market. This happened to my buyers twice in the last week.

Right now we seem to be in a period of hyper inflation with home prices. When prices appreciate at this rate, appraisal problems can happen and buyers will need more than 20% down both to compete and also to pay for the appraisal shortfall, which may be likely in some cases. (For info on the Monte Sereno real estate market, check this link.)

Please note: these data charts were all pulled by me, Mary Pope-Handy, from MLSListings.com, to which I subscribe. 

I’m a little inventory obsessed, but check out where we are in December 2021 versus December in any recent year. Buyers want to buy, but there’s “nothing to purchase”.

Please click the image below to see a larger version of it (it will pop open in a new window or tab).

Los Gatos inventory

 

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The Vista del Monte neighborhood in Los Gatos

Vista del Monte neighborhood mapThe Vista del Monte neighborhood is popular with Los Gatos home buyers as it offers close proximity to downtown Los Gatos (about a mile from Los Gatos High School), tree lined streets, sidewalks, and a beautiful neighborhood park. The terrain is mostly level but there are a few homes with views.

Like most of Los Gatos, there is some variation in the size of the houses and lots, but to describe the area generally, it’s fair to say that most are ranch style homes (single story, split level and 2 story homes) built in the late 1950s to mid 1960s, with some built in the late 70s. The average home size is about 2300 SF (most range between 1500 and 3000 SF) and the average lot size is about a quarter acre (many are 8000 to 10,000 SF, but a few are far larger). Most houses include attached 2 car garages, but a few of the larger homes or those built more recently offer 3 car garages.

This is a nicely maintained area where you’ll find pride of ownership in the upkeep of homes and yards.

Some facts about the Vista del Monte residential area:

Location – the Vista del Monte neighborhood is in in east Los Gatos. It is located off of Kennedy Road and Harding Avenue and is adjacent to Worcester Park.

Size & boundaries – neighborhood boundaries are not exact, but the area includes about 180 homes east of Worcester Park, between Kennedy Road and Alta Vista Avenue. Several of the streets have “Vista” as part of the name: Vista del Mar, Vista del Prado, Vista de Sierra, Vista del Campo, and of course Vista del Monte. Other included roads are Cerro Chico, Jared Lane, Worcester Loop, Worcester Lane, and Harding Avenue.

Schools – Vista del Monte is in the Los Gatos Union School District.

The Park – Worcester Park is an 11 acre park with 3 trails, one of which leads to a meadow with views of the hills.

Video drive-through of the Vista del Monte neighborhood

Recently I video taped some of this area while being driven through it. This was filmed in late September of 2014, so during the 3rd year of a drought, and you will notice that the neighborhood looks a little dry (lawns are a little more tan than usual). This is true throughout Silicon Valley and California as a whole during any prolonged drought, but is not the norm otherwise.

 

 

You can also view this on Youtube and you can also find more Los Gatos Neighborhood videos on my channel and more.

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Virtual WineFest: Tasting Fundraiser by the Los Gatos Rotary!

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Los Gatos Rotary Club Virtual WineFest & Auction 2022While the annual CrabFest is postponed another year, the Rotary Club of Los Gatos is continuing a new tradition with their 2nd annual Virtual WineFest & Auction! Save the date for Saturday, January 29th at 5pm!

This year’s event centers around gourmet bites and Argentinian wines (or try the non-alcoholic selection) guided by sommelier Joe Chiodo. Tickets include a Wine Tasting Kit for 2 with curbside pick-up from Rootstock Wine Bar prior to the event. Evening entertainment includes a live performance by Lavender Fields.

And as always, the main event is the charity auction! Proceeds benefit the Rotary Charities foundations, and this year the “Raise the Paddle” auction item benefits Los Gatos House of Hope, West Valley Community Services, and Peninsula Food Runners to help fight hunger and food insecurity locally.

Virtual WineFest & Auction

For ticket sales, event details and updates, contact the event team, or donate directly check the Los Gatos Rotary website and Virtual WineFest & Auction event page. Each ticket is for a 2-person tasting experience at a cost of $150.

The event is also posted on the Los Gatos Chamber of Commerce event calendar with easy links to save the date on your virtual calendar and view a video promotion for the event.

Holiday Promenade in Downtown Los Gatos

The tree December tree lighting ceremony is back, the parade is not, and the Holiday Promenade steps in to add some festivity to Los Gatos on the first Saturday of December this year.

On Saturday, December 4th, North Santa Cruz Avenue will be shut down to motor vehicles while town residents are treated to music, dance, and more at the Holiday Promenade.

The Los Gatos Chamber of Commerce shared this about the Holiday Promenade:

 

Presented by Linda L. Lester, Lester Square Los Gatos

The Promenade is a street festival that will combine the flair of the Los Gatos Summer Promenades, with a few elements of the holiday parade and a European-style artisan and crafts market. Delight in the performances of local youth groups on two stages, such as Los Gatos Ballet, Los Gatos Youth Theatre, the LGHS band, R.J. Fisher band and more. Holiday giveaways and activities courtesy of Los Gatos Lions Club and Los Gatos-Saratoga Recreation. Festivities will begin around noon and run until 9pm. Stay tuned for a performance schedule.

N. Santa Cruz Avenue will be closed for the day from Bachman to Main Street.

Special thanks to our presenting sponsor, Linda L. Lester, Lester Square Los Gatos. Her generosity and love for Los Gatos is truly one of the best holiday gifts of all.

 

Please check for updates and info on other sponsors at the webpage for this event on the Los Gatos Chamber of Commerce’s site.