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The Monte Sereno real estate market

The Monte Sereno real estate market

Monte Sereno Stained Glass Click Here
The 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.

Info at a glance (details further below):

  • This city has been in a seller’s market with severely low inventory, just 4 available homes at the end of May, according to the RE Report (linked below).
  • The sales to list price ratio plummetted to 91.3%, falling -10.5% from the month prior, and with no sales year-over-year to compare against.
  • Last month (May 2024) the MLS shows there were 4 closed sales. Of those 1 sold under $6M, 2 sold in the $8M range, and 1 sold over $9M. The under $6M sale had just 9 days on market, while the remainder took around 2 months to sell. Of these 4 sales, 2 sold over asking (100% and 111%) and 2 sold below asking (91%).
  • As of today, June 21, 2024, the MLS shows that there are 9 available Monte Sereno homes for sale (of those, 2 are Member’s Only: Show and 2 are Member’s Only: No Show), 0 pending sales, 1 contingent sale, and 5 closed sale so far this month in Monte Sereno.

The number of houses sold in any given month will always be extremely small making the data tend to jump around. Checking the Los Gatos market will also help, but the best pulse on the market will come from identifying particular sales in particular neighborhoods to track relevant micro markets.

Houses make up most of Monte Sereno – there are no commercial buildings, just a post office, city hall, some churches or religious grounds, and an elementary school. There are also extremely few residential properties that are not detached single family homes. We don’t track the condo or townhomes in this area as we do in other communities because there just wouldn’t be enough (if any) data for it!

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 number of home sales is very small in Monte Sereno. Even when there are sales, one or two outstanding properties could cause major waves in the data, so take this summary with a grain of salt.

May: 2 Sales

Trends At a Glance May 2024 Previous Month Year-over-Year
Median Price $8,900,000 (+72.8%) $5,150,000 $0 (N/A)
Average Price $8,900,000 (+44.4%) $6,162,500 $0 (N/A)
No. of Sales (-50.0%) 4 (N/A)
Pending (+33.3%) 3 (+100.0%)
Active (+33.3%) 3 (0.0%)
Sale vs. List Price 91.3% (-10.5%) 102.1% 0.0% (N/A)
Days on Market 62 (+439.1%) 12 (N/A)
Days of Inventory 60 (+175.9%) 22 (N/A)

 

While the lack of sales and listings can make the data in these charts swing wildly, the overall chart shows an active market within this high-end community, though ultra high-end listings are moving slower and more in the buyers favor. When inventory and sales are this low it’s crucial to track the neighboring Los Gatos market as well, to gain additional insight.

 

What does it cost to live in Monte Sereno? With an average sale price of roughly $4 – $5 million, you may wonder if anything sells that’s not in the stratosphere – can you buy an entry-level Silicon Valley home in Monte Sereno? The short answer is this: it’s not easy to find anything for under $2.5 million in Monte Sereno. Even a “fixer” often goes well above that. It can happen, although it’s rare, and the home will certainly be priced that way for a reason.

We also keep track of this market over at the Valley of Heart’s Delight blog, in addition to many other communities around Silicon Valley.

Other pricing consideration: what about schools?

Something else to be aware of is that most Monte Sereno 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.

Next, what kind of home is available to purchase in Monte Sereno now?

Click here to view Monte Sereno Homes for Sale

 

  • List View
  • Map View
  • Grid View

See all Monte Sereno, CA Homes for Sale & Recently Sold.
(all data current as of 6/22/2024)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

 

 

 

 

 

 

Flapjacks & Railroad Tracks

Flapjacks & Railroad Tracks

BJWRR-Flapjacks-Breakfast_W300H237-cOn Saturday, June 8, 2023,  the Billy Jones Wildcat Railroad (which runs from Oak Meadow Park through part of Vasona Lake County Park in Los Gatos) is hosting a fun, affordable pancake breakfast from 8:00 a.m. to 10:30 a.m.

Flapjacks & Railroad Tracks Food

The website states:

There are two options for breakfast: Regular Breakfast includes 3 large pancakes & 2 sausage links. Small Breakfast includes 1 large pancake & 2 sausage links. A la cart items will also be available.

Tickets for the train are at the regular pricing. It’s a great fundraiser to support the small gauge railroad, and kick off the summer schedule for both the train and carousel.

In addition, the train and carousel will be open bright and early. Rides will begin at 8:00am and run until 4:30pm. Standard ticket pricing applies.

For more information and details, please have a look at the Billy Jones Wildcat Railroad website.

If you’re on Facebook, find and “like” the Facebook page for the BJWRR.

 

Related reading:

End of Summer Night Ride and Pasta Dinner

Los Gatos real estate market statistics and trends

Los Gatos real estate market statistics and trends

Los Gatos real estate market graphic with home near downtownAs of today, June 4 2024, the Los Gatos real estate market in 95030 & 95032 is softening, but still a seller’s market. We are seeing inventory rise, but we’re also seeing interest rates rising, and that appears to be putting a damper on sale prices.

Across the county, first time home buyers are the most active and more entry level prices is the strongest segment.

Los Gatos real estate market statistics for the last 30 days (not a calendar month)

Numbers for today (pulled from the MLS), going back 30 days:

  • 61 houses for sale today (June 4, 2024)
    • the average days on market for these homes is 73 days (but 3 have been on for 555-557 days!)
    • the median days on market 22 days
  • 2 are contingent, 26 are sale pending  (no contingencies)
  • 32 have closed in the last 30 days
    • average home size 2,424 SF
    • Lot size data is off – someone entered a number incorrectly, so it’s messed up
    • average days on market = 18 (up from 7 last month)
    • the LONGEST days on market was  83, and of the 32 homes, 21 sold in 10 days or less
    • average sale price  $3,196,188
    • median sale price $3,200,000 (same as last month)
    • average sale to list price ratio 105% ( it was110% 30 days ago, 109% in April, 104% in mid-March and 101% in early-mid January)

Nine of the sold homes were  $4 mil or more. The highest sale price was $5,310,000.

Some of the homes for sale have been on the market a long time, but for houses that do sell, it’s usually in 10 days or less. Some price points do typically take longer, though.

 

 

Further below you’ll find similar charts for houses in the Los Gatos Mountains and also condos and townhomes “in town”.

Los Gatos real estate market statistics: multi year data by month

Here is some Los Gatos real estate market data that I pulled directly from the MLS today.

Inventory of available homes for sale in Los Gatos 95030 and Los Gatos 95032

Inventory is finally into a healthier range (though I recall the days when 80 was typical).

 

Inventory of Los Gatos homes for sale 95030 95032 MLS area 16

 

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Los Gatos Free Music Concert Series: Music in the Park, Jazz on the Plazz and Vasona Vibrations Schedule of Events and Performers

Los Gatos Free Music Concert Series: Music in the Park, Jazz on the Plazz and Vasona Vibrations Schedule of Events and Performers

Los Gatos Free Music Concert Series Collage Summer 2023

Today’s heatwave is a reminder that Summer 2024 is just around the corner, and Los Gatos is gearing up for a season of music to remember! The last couple of years have transformed Los Gatos’ free music scene, with some favorites returning and new events to look forward to, while others have taken their last bow.

Some of our old favorites, like Jazz on the Plazz and Music in the Park, are back, with performances from long-time favorites and some new performances taking the stage. Knowing that you are as excited about these as I am, I have compiled a calendar of free outdoor music events for us all! (Not all artists and schedules have been announced, so please check the official event pages for the latest news).

Below please find a compilation of the three different Los Gatos free musical concert series and a few one-day festivals. As always, the information below is believed to be reliable, but as with any concert or outdoors event it is subject to change, so double check the website (and the weather) prior to going and always read the rules, especially if you plan to picnic. Hope to see you there!

Note: It’s still early in the season, so not all events have their schedules and lineups published. We will update this list later in the season, but be sure to check each event’s website and social media for the latest information!

2024 Summer Concert Series: Free Music and Fun in Los Gatos

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Wedgewood-Rinconada neighborhood

Wedgewood-Rinconada neighborhood

The Wedgewood-Rinconada neighborhood in west Los Gatos offers a very pretty approach along a gorgeous golf course. If you aren’t familiar with this part of town, you’ll want to get to know it!

 

Wedgewood-Rinconada neighborhood view - La Rinconada Country Club greens and golfers as seen from Wedgewood

 

Where is the Wedgewood-Rinconada neighborhood?

 

Wedgewood-Rinconada neighborhood map with notes - map by Mary Pope-Handy and Clair Handy * Click on image for larger view

 

This neighborhood is more or less a triangle or wedge shape. It skirts along the La Rinconada Country Club and its gorgeous greens on the south, Highway 85 (as well as the Union Pacific Trail, the train tracks, and high voltage power line easement) on the north,  and the Rio Rinconada neighborhood to the west. (There’s a jagged piece of land between Rio Rinconada and this area which belongs in part to the town and in part to the water district. It is for storm water or drainage. It is not the town’s border.)

The best known part of this neighborhood is Wedgewood Manor, a large condo complex off of Lora Drive.

The streets included are Wedgewood Avenue (most of it), Browns Lane (private), La Rinconada Drive, Mulberry Drive, and Lora Drive.

What is the neighborhood like?

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This community is entirely residential except for one small church, the St. Basil the Great Byzantine Catholic Church (an eastern rite Catholic church).
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