Los Gatos real estate market trends and statistics

Low inventory has been the headline story in the Los Gatos real estate market since last spring. Here’s a multiple year view of single family homes for sale in Los Gatos 95030 and 95032 since January 2015 – 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 August can vary, but usually sits somewhere between the low to high 70s. This August fell well below that range with only 51 active listings, the lowest across all visible years!

Seasonal trends for 2020 were thrown completely off shortly after the lockdown order. Inventory never grew to the expected level last spring with available listings consistently shrinking from May through January and hardly any growth in spring 2021!

 

Active Inventory August 2021 Los Gatos 95030 & 95032

 

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 affected the local real estate market today, please check Coronavirus Impact on Real Estate Sales on my other blog.

Covid restrictions have mostly been lifted, and Silicon Valley remains in a hot seller’s market with limited inventory. If you’re interested in selling your home this year, check out my article on how to Sell Your Home in 2021. When you’re ready to talk to an agent I would love to hear from you!

What is selling best in LG right now?

In general, single family homes listed at or under $2.5 million are selling well, with their sales averaging around 6.7% over list price in August. Those listed upwards of $3 millions are also frequently selling above asking with an average of roughly 4.4% above list price in August. Even so, there are exceptions in both groups.

Certain things can skew the data. For instance, a home in Los Gatos listed just under $2.2 million took 33 days to sell, but sold around 4.6% below list price, while another listed shy of $4 million sold nearly 17.5% above asking (over $700K over) in just 7 days! 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 sales which aren’t comparable.

By the numbers: Of the 46 single family home sales in Los Gatos (not including the mountain market) in August on the MLS, none sold under $1 million, 5 sold under $1.5 million, 9 sold between $1.5 and $2 million, 13 sold above $2 and below $3 million, 10 sold between $3 and $4 million, 7 sold over $4 to $5 million, and 2 sold between $6 million and $7 million!

The high end price point tends to be around $3,000,000 and up for this part of Santa Clara County, although it’s been creeping upwards with the overly hot market we’ve been experiencing. 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) – the entire Los Gatos real estate market combined. 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 Aug 2021 Previous Month Year-over-Year
Median Price $2,950,000 (+3.5%) $2,850,000 $2,475,000 (+19.2%)
Average Price $3,253,780 (+0.9%) $3,224,100 $2,944,000 (+10.5%)
No. of Sales 40 (-7.0%) 43 44 (-9.1%)
Pending 55 (-6.8%) 59 41 (+34.1%)
Active 50 (+8.7%) 46 55 (-9.1%)
Sale vs. List Price 105.4% (-3.0%) 108.6% 100.9% (+4.4%)
Days on Market 20 (+66.8%) 12 31 (-35.2%)
Days of Inventory 38 (+16.8%) 32 38 (0.0%)

Prices for Los Gatos real estate haven’t changed much month-over-month, but compared to last year they’ve risen about 10%-19%! Last year’s market had a higher number of closed sales and active listings, but fewer pending sales. Compared to last month, closed and pending sales fell short while active inventory grew. The sales vs list price ratio fell significantly month-over-month, although still well above last year at a red hot 105.4% of asking.

Overall, despite some seasonal cooling it remains a busy seller’s market in Los Gatos, likely impacted by pent up demand from last year.

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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 9/28/2021)

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

 
 

 

 

List of Los Gatos neighborhoods

The Town of Los Gatos is about 11 square miles and is comprised of dozens of neighborhoods in various parts of town, with different schools, zip codes, price points, plusses and minuses.  Here on the Live in Los Gatos blog there have been many, many real estate articles devoted Los Gatos neighborhoods.  Below please find links to neighborhood posts with descriptions and photos, primarily on “Live in Los Gatos” but in some cases on one of my other sites.
West Los Gatos neighborhoods
(More neighborhoods to come as time permits – I have about 25 on my list.  Want your subdivision included? Please email me and I will put it on the To Do list!)

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Los Gatos condo sales: what does your money buy?

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.

 

Los Gatos condo sales in 2020 year to date

 

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).

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Alta Vista neighborhood

Hills proximity to the Alta Vista neighborhoodAlta 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.

Blossom Valley Drive home

Above and below: a couple of homes along Blossom Valley Drive.

Another Blossom Valley Drive house

 

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.

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University or Edelen Historic District neighborhood in Los Gatos

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!

129 Edelen Avenue, Los GatosFor 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!

130 Edelen, Los GatosDirectly 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.

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