Low inventory is the main story in the Los Gatos real estate market for 2020. Here’s a multiple year view of single family homes for sale in Los Gatos 95030 and 95032 since January 2014 – I find this to be enlightening since any one year can be an anomaly. The chart below shows us that the average inventory for Los Gatos in December can vary, but usually sits somewhere between 30 to 40 and occasionally higher. Seasonal trends for 2020 have been thrown completely off. Inventory has been unusually consistent since March with little fluctuation, the result of which is a higher than average inventory in December. This is a shift from the preceding months when, in fact, most of the year Los Gatos inventory has been extremely low.
The ultra low number of listings is due to many factors, one of them being the current coronavirus pandemic and health and safety concerns. For a look at how Covid-19 is affecting the local real estate market today, please check Coronavirus Impact on Real Estate Sales on my other blog.
What is selling best in LG right now?
In general, single family homes listed at or under roughly $2.5 million are selling well, averaging around 8% over list price. For those listed in the high $2 millions and upward, on average they are selling a bit under asking. Even so, there are exceptions in both groups. Certain things can skew the data. A home in east Los Gatos listed under $2 million took over 50 days to sell and sold below asking, causing the days on market for that set to look longer than is actually the case for most homes. When planning to buy or sell, it’s best to look at the data within a mile of your home (or the one you want to buy), and across similar properties excluding the odd sales which don’t apply.
By the numbers: Of the 22 single family home sales in Los Gatos (not including the mountain market) in December on the MLS, none sold under $1 million, 7 closed under $2 million (only 1 went below $1.5 million), 9 sold above $2 and below $3 million, 5 from $3 million to $4 million, 1 sold above $7 million. The high end price point tends to be around $3,000,000 and up for this part of Santa Clara County. The vast majority of what sold would not be considered luxury properties, even though in most areas of the U.S. these would be luxury price tags.
Los Gatos real estate statistics at a glance for 95030 & 95032
Next, data from the RE Report for Los Gatos (“in town”), in the Los Gatos Mountains, and for Los Gatos condos (only in town, none in the mountain communities). Below that are the live Altos Research charts, updated automatically each week. Altos uses list prices, not sold prices.
The numbers below analyze data gathered during the first week of each month and cover real estate statistics from the month prior in Los Gatos 95030 & 95032 (all areas / school districts), or MLS “area 16”. See the full RE Report here.
|Trends At a Glance||Dec 2020||Previous Month||Year-over-Year|
|Median Price||$2,776,500 (+18.1%)||$2,350,000||$2,075,000 (+33.8%)|
|Average Price||$2,882,500 (+9.3%)||$2,638,150||$2,545,930 (+13.2%)|
|No. of Sales||26 (-33.3%)||39||28 (-7.1%)|
|Pending||30 (-3.2%)||31||16 (+87.5%)|
|Active||39 (-22.0%)||50||29 (+34.5%)|
|Sale vs. List Price||101.5% (-0.4%)||101.9%||99.1% (+2.5%)|
|Days on Market||35 (+53.9%)||23||43 (-18.2%)|
|Days of Inventory||45 (+21.0%)||37||31 (+44.8%)|
Prices rose since last month and last year (although that is likely skewed due to the $7.1 mil sale). The number of sales, on the other hand, is a little below last year and significantly cooler than the month prior. Active listings have also fallen since November, which is normal seasonal cooling, but are higher than 2019 inventory. Pending sales are holding steady and are nearly double the year prior, and the sales vs list price ratio cooled to 101.5%, remaining well above last year. Overall it remains a seller’s market in Los Gatos with some seasonal cooling, possibly impacted by delayed activity from earlier this year.
Los Gatos condo sales are good to watch as it provides info on the most affordable segment of the local real estate market. The condo / townhome market in Los Gatos includes a broad spectrum of housing and affordability across the 95030 and 95032 zip codes and its various school districts.
Included are senior condominiums (mostly but not exclusively at the Los Gatos Commons), which are usually the lowest priced homes and which are residences with age restrictions (mostly 55+). This can skew the data a little, so remember that if it looks too good to be true, it probably is (for all the non-seniors who would love the prices at the Commons in a non seniors complex).
Also incorporated in the chart below are townhouses. A townhouse is an architectural style, not a type of ownership. A townhouse really refers to properties with no other units above or below them. They are either in condo style ownership (essentially a condominium in the shape of a townhouse) or they are planned unit developments (PUDs), which are not condos and in which the ownership includes the land under the unit. (See also: Is that Los Gatos house or townhouse actually a condo? on this blog.)
Chart of Los Gatos condo sales in 2020
Below please find data on the Los Gatos 95030 and 95032 condominium and townhome sales.
How do these condo and townhome prices compare to other nearby areas? Here’s the most recent data from my RE Report (link is to the main site, the PDF with this chart is listed in left column).
One 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
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!
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. Something unusual is that all of them appear to have the same floor plan – all have 1448 square feet.
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 1/22/2021)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Alta Vista is a scenic neighborhood which includes homes in both the Cambrian Park neighborhood and the Town of Los Gatos. For many reasons, this area is highly valued and sought after. For this article, we’ll focus on the neighborhood immediately adjacent to the school, not the entire “area of school attendance.”
What makes Alta Vista so attractive? First, it’s convenient. The high performing schools are easy to walk or bike to without crossing any major roads. Almost as close is a good-sized Safeway, a coffee shop, and other stores and eateries at the nearby Downing Center. It’s easy to get to Highway 85 from Union Avenue, too. As a bonus, the location is popular because of it’s vicinity to Los Gatos with the lower price point of San Jose (for most of the neighborhood).
Second, it’s scenic. Alta Vista has its fair share of visual appeal as well, with many streets lined with beautiful and mature trees, Ross Creek running along one border, and views of the nearby Blossom Hill and coastal range behind it. South of Blossom Hill on the Los Gatos side, it’s not far to the foothills with their trails and parks. Yards and homes are well kept and tidy, as are the streets. Parking near the schools only becomes a problem during school functions a few times a year (and of course at drop off and pickup times).
Simply put, Alta Vista is a scenic neighborhood with great schools and a convenient location. That’s a winning combination.
Above and below: a couple of homes along Blossom Valley Drive.
Please continue reading for a map of the Alta Vista neighborhood, major landmarks, info on the Alta Vista real estate market, homes for sale in Alta Vista, and more.
This Los Gatos real estate article was originally written in 2007 but updated in late August 2015 and again in March 2020. Some of the photos are from the original post and some from 2015. – mph
One of the oldest residential neighborhoods in Los Gatos is the Edelen District, also called the University District. Originally a vineyard just north of the town’s school (where Old Town stands today), this residential neighborhood runs alongside the Los Gatos Creek to University Avenue or North Santa Cruz. Streets include University Avenue (south of Highway 9), Miles, Miller, and Edelen Avenues. (For more information on the location, please visit the town of Los Gatos’ statement on the Edelen District, ordinance 2168 on the University/Edelen District).
This officially designated historic area also once included homes downhill (off Miles), along the banks of the Los Gatos Creek. But frequent flooding made that untenable. Now the lower area, by the edge of the Los Gatos Creek, is home to the town’s recycling center, truck yard and car lot as well as the parks department’s building (Department of Parks and Public Works). And it houses the relocated Maria’s Berry Farm buildings too (formerly near Highway 17 and Lark Avenue and moved when Highway 85 was constructed in the early 90’s).
Filled with beautiful Victorian homes, many built in the late 1800s, the Edelen District boasts an incredible proximity to downtown Los Gatos (as does the Almond Grove, but this area is even closer “in”). The streets are tree-lined and delightful looking, and most owners clearly prize their distinctive and historically important homes and have restored and maintained them lovingly. This is a highly prized bunch of Los Gatos real estate!
For visitors to the Edelen District, parking is a pain. Most of the area is permit parking only, 24 hours a day. And it makes sense. These residences were constructed largely without garages in mind. The folks who live there need to park at home without competing for space with visitors to Old Town or other downtown draws. To further protect this area from undesired traffic, Miller Avenue is closed to automobile traffic where it intersects with Edelen. Shoppers are therefore not tempted to park illicitly.
There are countless architectural treasures in this area, but let’s have a peek at just a couple so you can get a flavor of the neighborhood. (Thanks in advance to the fabulous book, Los Gatos Observed by Alastair Dallas (not an affiliate link or sponsored ad, I just really enjoyed this book!) and to the Town of Los Gatos for its Hooked on History Project, sponsored by the Los Gatos Library and History Museum).
The home I photographed in August 2015 at the upper right is at 129 Edelen Avenue. It’s a gorgeous Queen Anne Victorian and was built in 1892. Because of the large bushes and trees, it is difficult to get a clear view of the home today framed in one photograph. The “Hooked on History” project of Los Gatos has a wonderful historic photo on its site, with a better view of the house as well as an interesting history of The Skinkle House as it is sometimes called!
Directly across the street is another gorgeous house, located at 130 Edelen Avenue. It was built in 1886 and has been the setting for a movie featuring Orson Welles (shot in 1970) and a television show. It, too, is a gracious Queen Ann Victorian with lots of splendid detailing. This was the winter residence of John Miles, a founder and developer of this district, and is sometimes called the Miles House.
My suggestion for seeing this historic neighborhood is to park at the public lot behind the newer section of Old Town, stroll down University Avenue to Miller and walk down the street to Edelen. Cars cannot pass through the intersection, but pedestrians can. Enjoy a leisurely walk up the tree lined street and then turn back toward University on Miles Avenue.
Bring your camera!
Photo slideshow of Edelen Avenue historic homes
Homes for sale in the Edelen or University Historic neighborhood in Los Gatos
Below please view any homes for sale in this historic Los Gatos neighborhood by map or by list view through the link.
A charming Los Gatos neighborhood with diverse architecture in the central part of town, if not quite downtown, is the San Benito Avenue area. This neighborhood sits on a gentle hill, a bit of a ridge, and many of the homes in this section of town enjoy lovely views due to the mild elevation. Here, a small road named Creffield Heights starts at San Benito Avenue and slides back into the hill, where the far point of the road stretches into Monte Sereno before looping back into Los Gatos.
The pluses for this neighborhood are huge: proximity to downtown Los Gatos, proximity to Oak Meadow Park and Vasona Lake County Park, the scenic vistas of the hills, the diverse architecture, the well-maintained homes, the highly regarded Los Gatos schools, and much more.
The negatives are few and far between. In some areas, especially some of the streets running between San Benito and North Santa Cruz Avenue, roads are narrow and overcrowded with cars. In some areas, residents may only park on one side of the street. Another issue is the hill itself. Often with hillside properties and neighborhoods, water running off the hill, or under it until it finds level ground, can cause home owners tremendous headaches. See “What To Consider When Buying a Hillside Home in Silicon Valley”
I’ve been curious about the inviting little pocket of homes for over 20 years – who could resist the signs on stucco which announce the street and neighborhood name with so much dignity? When I checked the county records, I found just 10 residences on this street (and some are flag lots), so it’s a very small community. Two of the parcels are in the city of Monte Sereno. The home styles and ages are also all over the place, giving each home a unique charm and personality. It’s kind of a funny pocket! Even so, that area has a little more altitude, so some of the views are delightful.
San Benito Ave Area
This area is much larger and includes the Creffield Heights block. Within this neighborhood are 10 units in condo ownership (built 1981), 6 listed as duplexes (built from 1900 – 1998), and 12 Multi Family Units (built 1918 – 1998). Most of the area is occupied by over 200 single family homes built between 1900 and 2019. The average age for these homes is 62 years and the median age is 69 years old. As you might expect, homes here can vary a great deal, for instance they come in a range of 1 – 7 bedrooms, so buyers looking in this area should expect to be flexible and patient. In the past year (as of writing, March 2020) only 4 homes sold in this area and none are currently listed.
Terrain for the San Benito Avenue area
Below please find a terrain map with the very approximate neighborhood boundaries marked. The outlined and blue-filled area of the map is the greater San Benito Avenue area. The bright green marker is for the appx center of Creffield Heights, and the pale green one is where the impressive “Creffield Heights” sign and entrance may be seen (photos below in slideshow).
Photographs of the Creffield Heights and San Benito Avenue neighborhood
Please enjoy some photos I took recently, mostly on San Benito Avenue in Los Gatos
Real estate prices & homes for sale in the San Benito area
This area has so much diversity that it would be very difficult to give an estimate of what it would take to buy a home in this area. Houses vary in age, size, grandeur, condition, view, and lot size. Many smaller homes on smaller lots will sell for between $1.4 and $2 million. Large homes on large lots, perhaps will views, will sell for considerably more. Over the last year (as of March 2020) only 4 homes sold in this area. They ranged from a tiny home (under 1,000 sqft) on a good sized lot (over 6,500 sqft) for only $1,215,000 to an average sized home on a large lot (almost 7,500 sqft) at $2,210,000. This is a “low turnover” area, but homes that come to market generally sell quickly.
Below please find homes for sale by map for this area, and a list of available homes through the link.