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 (+66.7%) 3 (-16.7%)
Pending (-25.0%) 8 (+200.0%)
Active (-66.7%) 6 (-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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How old are the oldest houses in Los Gatos and nearby?

Historic Homes in Los GatosIf you drive through the Edelen, Almond Grove, Fairview Plaza, Glenridge and other older and historic Los Gatos neighborhoods, you may have wondered how far back in time these architecturally interesting properties go. What are the oldest residences in town, or close by?

Los Gatos Historic Homes

Are there Adobes?

In the Santa Clara Valley, there are a handful of old adobe homes here and there, such as the Peralta Adobe in downtown San Jose (built in 1797), and the Santa Clara Women’s Club Adobe (built in 1790), and many more. I can’t say for certain if there are any remaining 18th-19th century adobe homes in Los Gatos. If they exist the most probable properties are around the Los Gatos Saratoga border, are private, occupied homes, and have extensive additions and modifications.

Victorian Era: Gold Rush to Gem of the Foothills

When discussing historic homes in the Bay Area, the Victorian undoubtedly comes to mind. And Los Gatos has plenty! A search of county real estate records for Los Gatos homes (in town, 95030 & 95032 plus the mountains, 95033) spanning the era from 1837-1901 revealed hundreds of properties identified as Victorian construction. It displayed about about 375 in 95030, 120 in 95032, and also about 140 in 95033.

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15839 Edmund Dr. Los Gatos, CA 95032

15839 Edmund Dr LG 95032 Collage

SOLD – 15839 Edmund Dr. Los Gatos 95032
Closed on 4/30/2021 at $2,465,000

View virtual tour at LosGatosHomeSale.com

A spacious 4 bed 3 bath open floorplan home on a deep lot
in a beautiful, convenient East Los Gatos cul de sac!

Spacious home featuring hardwood floors throughout. Large kitchen with abundant counter space and breakfast bar. Open living space overlooks the back yard. Four bedrooms, two with en suite baths. Deep back yard provided newer, heated lap pool with safety cover, large deck, and storage shed.

Highly regarded schools: Alta Vista Elementary (convenient access via pedestrian bridge), Union Middle, and Leigh High.

4 bed / 3 bath (2 bedrooms with en suite baths)

Lot Size 10,000 SqFt

Building Size 2,252 SqFt

Built 1953

Offered at $1,800,000

MLS # ML81835578

For more images and information visit LosGatosHomeSale.com

Features:

  • Deep lot
  • Hardwood flooring – oak in original bedroom wing and engineered hardwood in most of the rest of the home (all but kitchen and bathrooms)
  • Fireplace in living room
  • Open floorplan
  • Large kitchen with 10′ breakfast bar and gas cooking
  • Heated lap pool with safety cover
  • Large, 750 SF deck with hot tub near primary bedroom
  • Storage shed

Ending the Alberto Way Condo Confusion

Map Condo and Townhome communities along Alberto Way in Los GatosOne of the more confusing areas in Los Gatos may the Alberto Way. There are a number of HOA communities and for those new to the area, they may all blur together.

Los Gatos Commons

The largest complex along Alberto Way in Los Gatos is the The Los Gatos Commons, a senior community with 110 units. (To read more about senior housing in the area, please see my post on it here.)

As with most senior housing, the units at The Commons are more affordable than the majority of  Los Gatos condos. The Commons was built in 1978 and requires that at least one resident be 55 years of age or more. As of 2020, you may be able to purchase a a unit there between $500,000 and $700,000.

Pueblo de Los Gatos

A smaller condo community just a little closer to Los Gatos-Saratoga Road, and on the opposite side of Alberto Way, is Pueblo de Los Gatos.  These homes are a little further away from Highway 17, are a little quieter, and are not senior housing.  They tend to sell for a little more than the homes across the way. There seems to be about a 5% to 10%  difference in price, most of which may be attributable to freeway noise, but part of it to the “senior community” status. This property was developed in 1970, so is actually a little older than the Commons.

Pueblo de Los Gatos consists of 53 units. Of these 53 condo units, 1 of them is a 3 bedroom (unit # 1, which also has a large 2 car garage), 44 are 2 bedroom units, and 8 are 1 bedroom units.  Except for unit # 1, the rest of the homes in this community have carports.  For many home buyers, these properties offer a more affordable way to get into the Los Gatos Union School District than might otherwise be possible.

Bella Vista Village

Next to and behind Pueblo de Los Gatos is the much newer and more expensive Bella Vista Village, which was built in 1997 and 1998 and includes 47 townhomes. Click on the link to see some photos and learn about it!

Las Casitas

Additionally, there is a small townhouse complex built in 1979 with 18 units on the same side of the street as the Los Gatos Commons, Las Casitas, located at 435 Alberto Way. Something unusual is that all of them appear to have the same floor plan – all have 1448 square feet. It is a tidy complex built around a central grassy courtyard area. Each home has a small back patio & storage closet outside, a laundry closet in the kitchen, 3 skylights for the 2nd floor, good sized bedrooms and baths, and pleasant grounds. There are carports and uncovered parking at the back of the property, up against the freeway. Click on the link above to see a half dozen photos of this attractive complex and learn more about it.

 

What is the fastest way to tell them apart? The easiest way, without even clicking on a link, is to spot the address.  If there’s a letter as part of the unit number (as in A100 or B202), it’s part of The Commons. Also, if the price looks low for the area – it’s probably the Commons. If there’s no letter, as in #7, it’s part of one of the other communities. Or just check the map – The Commons is tucked back at the far left side of the cul de sac (beyond it are office buildings with a private driveway).

All of these are in close-to-downtown Los Gatos locations. If you’re in the market for Los Gatos real estate and would like to live close in, this is a great street to check out.

 

 

All Alberto Way area homes for sale, pending, or sold over the last year – including The Commons

This includes properties on Alberto Way as well as Maggi Court and the other Bella Vista Village homes.

 

  • List View
  • Map View
  • Grid View

See all Alberto Way.
(all data current as of 1/26/2022)

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