Homes & Housing Market
What’s selling right now in Los Gatos? The Los Gatos real estate market tends to have warmer and cooler pockets. (Please also see The Real Estate Market Trends in Los Gatos .) At the moment, almost anything listed for saleunder $2 million in Los Gatos 95030 and 95032, as long as it’s appropriately priced, staged, and marketed, is selling in under a month – and about half of those that sell do so in about 10 days. The Los Gatos luxury home market is not quite so on fire, though. As the price rises, so does the “days on market”.
Here’s a quick view of the 95030 median list price by quartile (4 pricing tiers). All levels have had some movement, but it’s most dramatic in the highest priced homes.
Next, let’s check out Los Gatos 95032, also for the median list price of houses for sale – same situation here with the most irregular movements happening in the top part of the pricing segments.
What about the days on market? Continue reading
The Hillbrook neighborhood is a beautifully maintained part of east Los Gatos. It sits just off Blossom Hill Road, about one block from Blossom Hill Park, with several homes backing to that park. It consists of Hillbrook Drive and a little park at Hillbrook & Blossom Hill, Fairmead Lane, and Eastridge Drive. For area newcomers who might be confused – this is not the area right next to Hillbrook School, which is at the end of Marchmont Drive.
Built between 1962 and 1965, the three dozen or so homes here are comfortably sized between 1600 and 3100 square feet and sit upon lots that are approximately a quarter acre. Nearly all of the houses are ranch style, but the few on Fairview represent a subset of the ranch style: mid century modern (most people think of Eichler, which is the predominant mid century modern type found in Silicon Valley, but these aren’t Eichlers per se). Although the houses are older, most have been updated and remodeled over the years, and are in great shape.
The name Hillbrook appears to derive from the area’s proximity to nearby Blossom Hill (the foothill, not the road named for it) and for Ross Creek, which runs through the the neighborhood.
One of the major draws to this neighborhood is the close proximity of Blossom Hill Elementary School, which is part of the highly regarded Los Gatos Union School District.
Hillbrook neighborhood real estate
Homes in this little pocket do not turn over much, but the homes that do sell are running between about $1,500,000 and $2 million. The price naturally depends on many factors: home size, lot size, condition of the home, exact location, and so on.
Although this small neighborhood is found just off Blossom Hill Road, it is not necessary to turn left on that busy street to get to downtown Los Gatos. Hillbrook Drive turns into Eastridge, and that leads to Lansberry, which can take you to Shannon Road. From Shannon there is a traffic signal for crossing Los Gatos Boulevard – often an easier way to go during rush hour. It’s easy to get to the park, to Blossom Hill Elementary, and to town from this location.
Recently I was driven through the area and shot some video to share. Right now it’s August 2015 and we are in the middle of a very longstanding drought, so you will notice many “California gold” colored front yards. This is not typical at all – it’s just a response to the request for water conservation from the governor and our local water utilities.
Narrated video drive-through of the Hillbrook neighborhood:
Los Gatos Home Sale Trends: it really depends on your segment of the market
How’s the real estate market in the Town of Los Gatos? The real estate market trends in Los Gatos varies from one price point and neighborhood to the next, from one type of housing to the next, and even between the town’s two zip codes, 95030 and 95032. Here we’ll take a view of the overall movement in the market; please understand that it may or may not apply to your particular Los Gatos home so please call or email me for specific information relating to your property.
Overall, Los Gatos continues to be a seller’s market, though not as deep as in other places in Santa Clara County (it’s wild in Cupertino, Sunnyvale, Palo Alto). Inventory is better than a year ago, inching toward more normalcy while remaining on the scarce side.
Today I pulled the data from MLSListings.com using their “statistics” tool (any Realtor can do this who’s a member of the MLS). The numbers below represent single family homes, or houses, in the Los Gatos zip codes of 95030 and 95032, all price ranges, school districts, home sizes etc.
Real Estate Market Trends in Los Gatos
The luxury market over about $3 or $4 million is usually more sluggish than the entry level homes, so what happens if we don’t go that high?
And now, same criteria but just homes under $ 2,000,000:
As you can see, the sale price to list price ratio for these 240 houses is a little higher and the days on market a bit shorter if we focus on just the homes offered at under $2 million. We could further refine this ad infinitum but Realtors often say that the best price will come with a fast sale (some sellers feel like if the home goes sale pending in just 2 weeks, it was too soon and they left money on the table). So let’s check it out. The next set is the same as above but only for homes that went under contract in 14 days or less:
Not only are the $2 million dollar or less homes the ones moving better, but the 130 of them (out of 240) that did sell within 14 days really moved fast (9 days on average) and with a much higher sale price to list price ratio!
This is why it is so key to drill down what’s happening to the micro market level. The monthly average for 95030 & 95032 in Los Gatos was 101.3% for all homes, but how very different it is for those under $2 million that sell within a couple of weeks! Home buyers and real estate investors who rely on only those general numbers will be 4% off (about the amount of a typical price reduction) – plenty enough by which to lose the sale.
What can throw your Los Gatos property’s home values:
- having a pool with a small backyard (pool removal may make you money) or NOT having a pool with an acre or more
- additions that you love but most buyers consider a detraction
- smaller than normal kitchen
- home in worse repair or lack of updating than typical
- being adjacent to something undesirable, such as a busy road, high voltage lines, or train tracks
- bad odors from pets, strong cooking, cigarette or cigar smoke etc.
If you are thining of buying or selling in Los Gator or nearby, please reach out to me and let’s talk about working together. To be successful and to get the most out of your transaction, it’s key to get the data that is relevant to the house in question and not just wing it based on zip code or city wide data. Los Gatos real estate and Silicon Valley real estate require a more sophisticated approach!
For those who want to do more research, here is a great resource
For info on Los Gatos or anywhere in Santa Clara County, San Mateo County or Santa Cruz County, please have a look at my online Real Estate Report.
The very first subdivision or planned neighborhood in Los Gatos was along Broadway and nearby (Clifton Avenue, Browadway Extension and Wood Road). There had already been quite a few houses built at that time in Los Gatos, but none were planned areas per se. John Lyndon was the developer and he bought the land and created 48 parcels which were sold in 1881 – a good six years before the far larger Almond Grove district was created and 6 years before the town was incorporated, too. A few homes in this area may already have been present, though, and seem to predate the 1881 date.
No doubt, Mr. Lyndon’s real estate buying decision was at least partially influenced by the location of his Lyndon Hotel, a whose bar was a popular hangout for the likes of John Steinbeck and Charlie Chaplain, which was located at the corner of Santa Cruz Avenue and Broadway, and now is the Lyndon Plaza (since sadly the hotel was torn down in the 1960s).
What was once a fairly quiet end of town is today mostly in the heart of it. The area closest to the post office enjoys a wide road (if desperately in need of repair), a good variety of Victorian and mostly older, historic homes, and is very uniformly well kept. Because it is either “in town” or “close to town”, the road is lined with cars most days – perhaps also because these houses of course pre-dated garages.
Where is the Broadway Historic District in Los Gatos?
The Town of Los Gatos has a Historic Districts Map – have a look:
Broadway neighborhood of Los Gatos real estate information
What does it cost to buy a Los Gatos townhouse? What are typical HOA dues for townhomes in Los Gatos?
Los Gatos is the “gateway to the Pacific” from Silicon Valley – and vice versa. Snuggled into the base of the Los Gatos Mountains, this scenic area offers a charming downtown, architecturally interesting homes and commercial areas, a beautiful natural setting and great public and private schools to boot. Housing costs are high here, so many wanting to make the town their home may investigate buying a townhouse or townhome rather than a single family home.
What does it cost to buy a Los Gatos townhouse?
Housing prices for townhomes varies with the school district, walkability, and proximity to downtown or other features such as having a view. And, of course, the size of home, number of beds and baths, the outside space, and its condition will all impact the home prices.
Most of the townhouses are 2 or 3 bedrooms. There are some 4 bedroom homes and once in a blue moon, you may stumble upon a 1 bedroom.
On the low end, it may be possible to purchase a small Los Gatos townhouse for about $500,000 for a 1 bedroom, if you can find it. At the high end, they can soar past $2 million. For the 48 townhomes in sold in the last 180 days, anywhere in Los Gatos 95030 or Los Gatos 95032, here are the average numbers (list price, sale price, square footage, days on market, HOA fee, price per square foot) all together, for the Campbell Union High School District area of town and for the Los Gatos-Saratoga Joint Union High School District part of town:
What I found most surprising is that buying a townhouse “in the schools” is not so much more expensive than one with Campbell or Union Schools.
What are typical HOA dues for townhomes in Los Gatos?
The Home Owner Association or HOA dues are often a shock to home buyers. As you see in the chart above, an average HOA fee paid for the homes sold in the last 6 months was $530. But they are not all so expensive – or so inexpensive. Continue reading
Where can you find a 1 story townhouse which is only connected to its neighbor at the garage? This description fits many of the homes at Los Gatos Village, a tidy townhome community in east Los Gatos set alongside Los Gatos-Almaden Road.
Built in 1972, these comfortable homes are well designed both inside and out. There are 163 units and of them, 57 have 2 stories and the rest are single story homes.
How big are the interiors and lots of town houses at Los Gatos Village?
These homes are modest in size, ranging from 1015 to 1494 square feet, generally (one home has 1648 SF – I would love to hear how that happened!). They have 2 or 3 bedrooms and 2 baths (there may be a few with 2.5 or 3 bathrooms, but most have 2). The lots likewise have a range between about 1563 SF and 4520 SF. I believe that every one of them has a 2 car garage.
Los Gatos Village is a Los Gatos real estate bargain
Homes in Los Gatos Village represent a bit of a bargain for Los Gatos housing prices as they are available for under $1 million (as of this writing in August 2015). Three sales in the last six months, from the update here in October 2016, have been in the mid $700s to the mid $900s. Dues are in the high $300s but includes quite a lot – painting, roof, beautiful lawn areas, and a pool. The incredibly good pricing might be why turnover is so low. In the last 365 days, there have been just 5 sales, representing a 3% annual turnover. If you see it and like it, buy it fast.
If you want to watch for these properties in your home search, these are the streets in which Los Gatos Village homes are located: Milmar Way, Los Gatos-Almaden Road, Escobar Court, Escobar Avenue, and Camino del Cerro.
The good and the bad
Very very good: Every home and every location has good and bad elements to factor in. Here there’s a whole lot of good – the price point (esp. for the schools), very private townhomes, many barely attached at all and more like “patio homes” than town houses. The floorplans are smartly designed with good use of space and flow. Many enjoy vaulted ceilings. Outside patios are also fairly spacious as townhome living goes. It’s very hard to find a single story townhome, but there are more than 100 of them here! The complex is very scenic with lots of lawn area and graceful sidewalks inviting a good stroll into the neighborhoods nearby.
What newcomers may miss is the very convenient foot bridge where Camino del Cerro would seem to go through but is stopped by Ross Creek with two points of the road which do not actually connect for cars. But people on bike, skateboard, foot, or otherwise motor vehicle free can get across on the pedestrian bridge. This is very convenient if your goal is to get to Alta Vista Elementary School, which is just 1115 feet or so from the other side of the creek.
And in case you didn’t know, Alta Vista Elementary and Union Middle School are both very highly scoring with API scores well into the 900s. This alone is a major draw for homes in this price point!
But wait, there’s more! From this community it’s less than a mile’s walk to nearby Safeway, a coffee shop and all kinds of little stores at The Downing Center at Los Gatos-Amaden Road and Union. I measured about 6/10 of a mile from the front of LG Village to the shopping center. For those who cannot or do not want to drive, this is a pretty sweet location for taking care of the essentials!
Good schools, walkable area, more accessible homes (single story) set in a quiet, campus like setting – Los Gatos Village does have something for everyone and appeals to home buyers of all ages.
The not so good: The pricing and location is so good that you just know there had to be something making this so affordable, and so there is. High voltage power lines cut pretty much through the middle of this pretty community, far closer to the homes than many home buyers would like. And there’s nothing that can be done about it.
One corner of the community is “kitty corner” from the cemetery, the Los Gatos Memorial Park. For some home buyers, that may be a deal killer, but many will not take issue with the quiet neighbors.
These townhomes are older and some have “popcorn” or acoustic ceilings that today’s buyers do not want. If you otherwise like the home, I would suggest not eliminating it from your wish list because of the ceiling. You can hire someone to do it before you move in and it’s not nearly as costly as most Silicon Valley home buyers would think.
Los Gatos real estate, homes for sale and housing prices
Below please find a list of condos and townhouses which are for sale – as of the date of this article being written, none were for sale in Los Gatos Village.
- List View
- Map View
- Grid View
See all Real estate matching your search.
(all data current as of 4/20/2019)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
How far will your home buying dollar stretch if your goal is to buy Los Gatos real estate or Monte Sereno real estate? Housing prices in these areas are steep, but it’s interesting how different the market is from one price point, zip code, and school district to the next.
Today I spent some time doing the very mundane task of pulling and crunching the data from MLSListings.com to give my readers and clients a sense of the housing market in Los Gatos and Monte Sereno. I teased it out by zip code and high school district (476 is Los Gatos-Saratoga Joint Union High School District and 473 is Campell Union High School District). The 95032 zip code stretches to the far east and far west corners of this area and if there were more sales I’d want to pull out the west vs east parts of the zip code – but with scant inventory and sales, that just wouldn’t work well right now.
The following statistics reflect Los Gatos and Monte Sereno single family home sales in the last 90 days in the 95030 zip code:
There are very very few homes in 95030 with the Campbell Union HSD, but there are a few and in the last 90 days there were two such sales / closings. Obviously I cannot break 2 sales into 4 pricing quartiles too well, so left them lumped together – but you can see from the price per square foot that this area is selling incredibly well!
For those who insist on 95030 “in the schools”, the good news is that the real estate market is much softer here than in much of the valley – homes are generally selling at or under list price, rather than over, and they are not selling, on average, with just 10 days on the market or less. Some do, of course – but most do not. That makes it a great buying opportunity!
Los Gatos and Monte Sereno single family home sales in the last 90 days in the 95032 zip code:
Next let’s look at Los Gatos and Monte Sereno 95032. MOST of Monte Sereno is in the 95030 zip code, but a portion is not and has 95032 and/or Campbell Union HSD.
For the part of 95032 with CUHSD, the market is actually quite hot with most sales at 105-106% of list price. Please note that in this grouping, there’s a very big jump in what you get for your money between the under $1 million quartile and the next quartile up – the house size about doubles, actually, but the price does not likewise double. The next tier up has a far smaller jump, but when I was exporting the date from the MLS I saw that there was a very large clustering of homes sold between about 1.3 and 1.9 million and almost just combined them since an awful lot were sitting right around 1.5 – 1.7 million. In any event, if you want to live in Los Gatos with about 2500 Square Feet with Leigh or Westmont High, the homes are running about $1.5 to $2 million. Often they are a little higher on the west side of town as opposed to the east – my best guess is that it’s because that end is closer to pricy Saratoga and is a closer commute to many of the high teck work places.
The 95032 area “in the schools” is popular – you get a more affordable zip code with the famed Los Gatos schools. Interesting that again, this area is not as hot a market as the part of LG and MS with the Campbell Union HSD. Perhaps that is because the elementary and middle schools are now very comparable, and only the high schools have a gap? Many buyers are not willing to pay a giant premium for Los Gatos High – though some, of course, are. (And they will also be happy to be in a location closer to downtown.)
So where are the opportunities in this market?
Buyers: If you want to buy in Los Gatos and get a home with Los Gatos Schoools, the market is not as competitive as the areas further from downtown with Union or Campbell schools. It is not cheaper, but it’s not quite so competitive, and you may not need to give away all your rights just to buy a home. Also, many Silicon Valley home buyers will push themselves to get into a home or school or zip code. If you are able to get out of the bottom tier and into the 2nd from the bottom tier of pricing, you will find less competition and a whole lot more house for the money in most cases (just check the price per SF).
Sellers: Ovviously it’s a great time to sell a home in Los Gatos and Monte Sereno, and some segments are a whole lot hotter than others. With the right pricing, staging, pre-sale prep and marketing, a solid home in this area can sell in under a month and often in under 2 weeks. Home buyers are clamoring to live in Los Gatos and are often frightened by biting off more than they can chew, especially after the last mega recession, so having a good plan to ease buyers’ fears is truly imperative for selling fast and at top dollar (those two usually go together).
Interested in buying or selling a house in Los Gatos or Monte Sereno? Please give me a call or shoot me an email and we can set up a time to talk and see if we might work well together. I’m a Los Gatos resident and a Los Gatos Realtor, a valley native and I appreciate the nuances of our area and market.
The Los Gatos real estate market varies by zip code, school district, neighborhood and price point. Today we’ll view it by zip code (95030, 95032 and 95033 – the latter is the Los Gatos Mountains area and is not part of the “town” but has a Los Gatos mailing address and is generally considered Los Gatos if not properly or officially part of the town).
1.) First, let’s look at single family homes and some key stats (coming from Altos Research and will be updated weekly):
the median list price of single family homes in these 3 zip codes in Los Gatos plus the city of Monte Sereno, the total inventory of homes for sale in Los Gatos by zip code, homes absorbed, average list price, price per square foot, median lot size, average age, nad more.
Los Gatos 95030 real estate market data:
|90-day stats for Single Family properties in|
LOS GATOS, CA 95030 as of April 12, 2019
|Median List Price:||$3,114,654||Average List Price:||$4,066,505|
|Total Inventory:||19||Price per Square Foot:||$1,043|
|Average Home Size:||3,449||Median Lot Size:||30,220|
|Average # Beds:||4.19||Average # Baths:||4.06|
|Homes Absorbed:||2||Newly Listed:||2|
|Days on Market:||179||Average Age:||53|
Los Gatos 95032 real estate market statistic:
|90-day stats for Single Family properties in|
LOS GATOS, CA 95032 as of April 12, 2019
|Median List Price:||$2,661,257||Average List Price:||$3,473,027|
|Total Inventory:||27||Price per Square Foot:||$917|
|Average Home Size:||3,134||Median Lot Size:||12,831|
|Average # Beds:||4.29||Average # Baths:||3.82|
|Homes Absorbed:||5||Newly Listed:||6|
|Days on Market:||81||Average Age:||38|
Los Gatos Mountains (not “in town”) 95033 housing market information:
|90-day stats for Single Family properties in|
LOS GATOS, CA 95033 as of April 12, 2019
|Median List Price:||$1,494,692||Average List Price:||$1,980,351|
|Total Inventory:||26||Price per Square Foot:||$562|
|Average Home Size:||2,902||Median Lot Size:||126,660|
|Average # Beds:||3.76||Average # Baths:||3.12|
|Homes Absorbed:||3||Newly Listed:||3|
|Days on Market:||117||Average Age:||42|
Monte Sereno – not a part of Los Gatos but shares many services, so they are often intertwined:
|90-day stats for Single Family properties in|
MONTE SERENO, CA 95030 as of April 12, 2019
|Median List Price:||$3,363,000||Average List Price:||$3,371,601|
|Total Inventory:||5||Price per Square Foot:||$989|
|Average Home Size:||3,394||Median Lot Size:||37,507|
|Average # Beds:||4.51||Average # Baths:||4.04|
|Homes Absorbed:||0||Newly Listed:||1|
|Days on Market:||13||Average Age:||38|
2) Next, let’s see how some of these real estate statistic look compared to recent months – below please find the MEDIAN LIST PRICE (not sale price) of homes by zip code, separated out by pricing quartile:
95030 is mostly Los Gatos, but some homes will be in Monte Sereno
95032 is 99% Los Gatos and 1% or so Monte Sereno
The Los Gatos Mountains area – 95033 (more remote and usually far, far more affordable than the town of Los Gatos)
To see what’s happening with the Los Gatos real estate market via the “solds” please visit my real estate report and view the latest market date & trends for houses in Los Gatos or houses in the Los Gatos mountain communities as well as the condo and townhouse market in the town of Los Gatos. Additionally, you can check what has sold anywhere in Los Gatos or Santa Clara County generally as long as it was on the multiple listing service!
The Luxury Home Real Estate Market in Los Gatos & Monte Sereno: today I crunched the numbers from MLS Listings to get the absorption rate or months of inventory for estate properties over $2,000,000 in Los Gatos 95030, Los Gatos 95032, Monte Sereno (both 95030 & 95032), and the Los Gatos Mountains 95033. Monte Sereno is a red hot market for estate properties, while the Los Gatos Mountain areas are not moving a lot of super expensive properties. Have a look below.
Next we’ll look at live charts from Altos Research (to which I have a subscription)
List prices of homes for sale in the topmost price quartile in Los Gatos, Monte Sereno and the Los Gatos Mountains
A couple of weeks ago, my family and I were up at the old Jesuit Novitiate, Sacred Heart Jesuit Center, visiting my uncle, and saw the demolition of the nearby Holy Names Sisters old convent as we left.
The sisters’ property is where the wonderful Casa Maria Montessori School stood and has been near and dear to our now grown kids and to us. It was a very loving environment and the expansive grounds provided a myriad of exploration opportunities for the youngsters.
Additionally, though, of course we ar eall very sympathetic to the nuns need to sell the land to support the elderly members of their community. Sadly for them, the elderly sisters had to be moved not entirely together, but with one group going to one location and another going elsewhere. (I would love to see a larger Catholic retirement home in the San Jose area that could accommodate them and others, and have blogged about that elsewhere. Such a place would have provided an alternative that could have kept the sisters together. Mercy Care & Retirement Center in Oakland is such a place….)
While the houses will be beautiful, no doubt, and perhaps I will be fortunate enough to sell one or more of them, even so, it’s hard to see the convent and grounds get torn up. Here are a few photos that my husband, Jim, took from that day.