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 these statistics 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).
Also, there are only single family, detached houses in Monte Sereno: no apartments, multi unit housing (2 – 4 plex), no duet homes (attached single family homes). That will be changing soon, however, as the old La Hacienda property (formerly an estate, then a hotel and restaurant) at Hwy 9 and Austin Way will likely become incorporated into Monte Sereno and condos or townhomes built there.
Also, please understand that many of the statistics below are for sales that closed in March, however much of the activity for those sales happened before the shelter-in-place order. Next month’s data will likely show the effects of this more distinctly than what we are seeing looking back on March. To learn more about how Covid-19 is affecting the local real estate market, please check Coronavirus Impact on Real Estate Sales on my other blog.
First up for the market analysis is the Altos Research weekly profile for Monte Sereno (uses list prices, not sales):
This chart shows a slight seller’s advantage in the market, which is consistent with the rest of the area, with recent dips in pricing and, surprisingly, days of inventory.