Critically Low Inventory of Homes for Sale in Los Gatos
The inventory of single family homes for sale in Los Gatos 95030, 95032, and 95033 (the mountains) has not been lower in recent memory. This morning I pulled the data and saw that we now have a critically low inventory of homes for sale in Los Gatos. Here are the numbers so that you can see what a more typical month in the Gem City of the Foothills looks like.
Of that low inventory of just 66 homes, which part of Los Gatos are they in?
Los Gatos 95030 (MLS area 16, excluding Monte Sereno) – 16 single family homes for sale
Los Gatos 95032 (MLS area 16, excluding Monte Sereno) – 34 single family homes for sale
Los Gatos Mountains 95033 (MLS area 23) – 13 single family homes for sale
PLUS one in the Morgan Hill / Gilroy area of the Los Gatos Mountains (MLS area 1) and 2 in the Saratoga area (MLS area 17)
|90-day stats for Single Family properties in|
LOS GATOS, CA as of August 16, 2019
|Median List Price:||$2,364,420||Average List Price:||$2,996,955|
|Total Inventory:||120||Price per Square Foot:||$825|
|Average Home Size:||3,016||Median Lot Size:||41,358|
|Average # Beds:||4.07||Average # Baths:||3.43|
|Homes Absorbed:||12||Newly Listed:||13|
|Days on Market:||83||Average Age:||46|
Something odd is that while most of Silicon Valley (and maybe the majority of the U.S.) is seeing a rising inventory, here in Los Gatos, it’s been shrinking.
For people thinking of selling, this is an excellent opportunity, generally, since few homes available creates the scarcity that lends itself toward homes selling faster and for more (if there are multiple offers especially). Homes under $3 million are selling briskly.
Sometime before the 10th of this month, there will be more information about the Los Gatos real estate market via my online Real Estate Report. Also available, download the 4 page printable report here:
Get weekly data by zip code via Altos Research Reports
You can also see the weekly reports by zip code via my Altos Research Reports (automatically updated – if you like the info, sign up to get the reports emailed to you):
Interested in buying or selling a home in Los Gatos? Please reach out to me for a confidential, no obligation consultation.