Los Gatos real estate market trends and statistics

The Los Gatos real estate market is cooling, but it is still a strong seller’s market – just not as “white hot” as it was a few months ago, and the trends are all pointing to a calmer, slower, more balanced market.

As of today, June 8, some info on single family  homes in LG 95030 & 95032:

  • 55 single family homes are on the market in “Active” status – it was 43 when I last updated this article on May 5 (of those, 1 is listed as “agent only, show”, and 7 are “agent only, do not show”). The agent only listings means that they are not syndicated to other websites.
  • 1 house is under contract but there are contingencies of some kind in place (could be loan, appraisal, property inspection, buyer to sell current home, seller to find a replacement home) – so those sales may not go through.
  • 22 houses are sale pending, no contingencies (this is a small number compared to the active listings) – it was 27 at my last update for this post
  • 26 houses have closed escrow in the last month, down from 33 in early May (fewer pendings – sales are decelerating).
  • The average sale price to list price ratio for these 26 houses was 108%, a very significant drop over last month’s 118% .

 

Here is some data that I pulled directly from the MLS:

Lack of inventory remains pronounced, but there is a shift, and finally the inventory is higher than last year. But take a look at ALL of the previous years. What is “normal”? I think 70 – 80 is pretty normal.  When it gets to be over about 100 it seems to be a slower market.

 

Los Gatos Inventory 

 

 

 

Sale Price to List Price Ratio for Los Gatos 95030 & 95032 houses

The sale price to list price ratio is a new high in April but backed way down in May. The sky isn’t falling, though. May’s ratio is still one of the highest on record.

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Stunning Vista del Monte Home for Sale

Come see this stunning Vista del Monte home for sale during our open house events (details below), or check out the photos, floorplan, and details at the virtual tour anytime!

Update on 4/25/2022: this home sold in 7 days with two offers for $4,320,000, closing April 25, 2022

253 Vista del Monte - fire pit, summer kitchen, hot tub in backyard

253 Vista del Monte features 4 bedrooms,  3.5 baths, an open layout, and extensive remodeling inside & out. The rooms are all generously sized and the backyard has been remodeled with entertaining in mind. Set at the end of the road, this is a quiet and serene location that you will treasure!

Vista del Monte home for sale – quick facts:

4 spacious bedrooms
3.5 bathrooms
3045 SF
9888 SF lot
Los Gatos schools: Van Meter, Fisher, and Los Gatos High
built in 1960 and remodeled in recent years with many upgrades
Offered at $3,850,000
MLS # ML81883301

Open house schedule

Wednesday March 23, 2022 9:30 a.m. – 12:30 p.m.
Saturday and Sunday March26 & 27, 2022  2 – 4 pm.

 

The sellers remodeled the main floor to open things up and to add more views to the outside. It worked beautifully! The new kitchen provides a large island and skylights above, stainless steel appliances, including a built in microwave, gas oven / stove, hood, fridge, and a wine fridge. There’s loads of storage, too. The laundry was moved from a nearby closet to the bedroom wing, and the closet is now a fabulous pantry.

 

Open Concept Living - 253 Vista del Monte, Los Gatos CA 95030

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Turnkey Glenridge Condo!

Beautifully remodeled one bed, 1.5 bath Glenridge condo now available! Welcome home to 600 Pennsylvania Avenue #14, Los Gatos! This home is an end unit and it enjoys a good sized patio with views of the hills and the historic homes nearby.

600 Pennsylvania Av 14 back patio

 

Quick facts on the Glenridge condo at 600 Pennsylvania Av # 14

1 bedroom
1.5 bathrooms
Living space 864 SF
Year built 1962
Open layout
Patio features a gate, ideal for entertaining!
Extensively remodeled in 2012
HOA dues $629 per month
Close to Bachman Park
Just 1/2 mile to downtown Los Gatos!
Los Gatos Union School District
Laundry shared with just one other unit & maintained by the HOA

Offered at $899,000

Glenridge condo at 600 Pennsylvania Av 14 - Kitchen

 

The 2012 remodel (by a previous owner) included a “down to the studs” renovation for most of the unit. That prior owner remodeled the kitchen, half bath, full bath, put in double pane windows, and upgraded the electrical system as well – all with permits and finals.

More recently the owners have replaced the refrigerator and both toilets and also repainted the interior.

 

Living room

 

 

Want more info? Please see all the details, images, floorplan, and photos at the virtual tour.

Learn more about the Glenridge and Bachman Park neighborhood here

Housing Element

Housing Element Update Community MeetingHave you heard of the Housing Element in Los Gatos? That phrase refers to our “strategic plan for housing the Town’s present and future residents,” per the town’s website. (LOTS of info on that page also.)

The state requires us to prepare for both the current and future housing needs and the plan must be updated every 8 years.

This morning I was emailed about the community meeting which will take place at the end of the month, and asked to help spread the word. Most of us would like a say in what happens in our neighborhoods, so I’m very happy to communicate the meeting’s info to you. Here’s what was shared with me:

The Town of Los Gatos is updating the Housing Element and we are reaching out to interested members of the public to spread the word regarding an upcoming Housing Element Update Community Meeting.  This meeting will focus on the Site Selection process and assisting the Town in choosing where to focus future housing opportunities. The Town’s Housing Element is a strategic plan for housing the Town’s present and future residents.  This meeting will take place via teleconference (Zoom) on Thursday, March 31, 2022 at 7:00 p.m.

Via Zoom:

Webinar ID: 893 4924 4451

Passcode: 623258

We ask that you share this upcoming community meeting with your colleagues, neighbors, friends, and family. If individuals are unable to attend the community meeting, a recording will be available at https://EngageLosGatosHousing.com/. We look forward to your participation and input.

For more information and engagement opportunities visit the Town’s Housing Element Update website at https://EngageLosGatosHousing.com/.

 

Los Gatos has some unique challenges since much of our town’s land is in the Very High Fire Hazard Severity Zone, and except for the addition of ADUs, construction appears to be discouraged by CalFire in those areas. Even parts of town not in that precise zone are still in higher fire risk areas. It will be interesting to see how this is factored in to the long range real estate planning for our area.

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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Los Gatos Fixer Opportunity! SOLD!

Sold with 6 offers!

Listed at $1,850,000

Closed 10/27 at $1,950,000

Looking to purchase a Los Gatos fixer property with upside potential? Please check out 39 Reservoir Road, a stone’s throw from downtown. It’s new to the market this week!

 

House Front Unit A 39 Reservoir Road, Los Gatos fixer

 

Situated in a scenic hillside area full of multi-million dollar homes, this historic property includes the original house plus two accessory dwelling units, or ADUs. One is attached (a “junior” ADU or JADU) and the other is detached.

Each of these  enjoys 2 bedrooms, 1 bathroom, and laundry. Each one has about 1000 – 1100 square feet of living space.

 

Bedroom 1 A - Los Gatos fixer at 39 Reservoir Road

 

Unit A is the house, closest to the street, built sometime between 1876 and 1888. It is historic, and it is listed as such with the town.  Unit B appears to be historic as well, but we don’t know the age. (These two are classic Los Gatos fixers and do need a substantial amount of work.)

Unit C is far younger, built in the late 80s. This home provides a large, sunny deck off of the main floor – it tremendously expands the livable area. Inside, there’s a valley view visible from the living room.  Downstairs are the bedrooms, bathroom, garage, and laundry.

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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