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Home buyers are really struggling to find properties that fit their needs and their budget right now. This morning I pulled the data and saw that we now have a critically low inventory of homes for sale in Los Gatos in 95030 and 95032, or “in town”. Below, please find the numbers so that you can see what a more typical month in the Gem City of the Foothills looks like. Separately, I’ll run the data for Los Gatos 95033, the Los Gatos Mountains.

Inventory of homes for sale in Los Gatos 95030 & 95032

Here are the numbers via MLS Listings for single family homes (99% houses, tiny fraction of duet homes, or single family attached – not duplexes) from January 2000 through June 2024.

In “normal years” (apart from the Great Recession or Global Financial Collapse and its fallout), we often have 80-100 homes listed for sale in town. Inventory is low right now, but it’s closer to the 25 year average than we’ve seen recently. Please note, this is not for just one school district, zip code part of town, price point, etc. If we teased out the data by school district or some other factor it might shake out a little differently. Think of this as a very broad, general picture of housing availability in town.

Having 100 houses on the market is actually not too bad for June. From about 2012 and later, it’s a little low, but not inordinately so.

Please click the image below to see a larger version of it in a new tab.

 

Inventory of homes for sale in Los Gatos - single family homes by month 2000-2024 June with averages

 

Is the low inventory really the issue?

I believe that the problem isn’t so much the number of homes for sale as the quality of homes for sale. Many of them have location problems or condition issues. Today’s buyers want to purchase move-in ready houses in a quiet spot with no location deficiencies. A good chuck of listings today are from “have to sell” situations and are not as updated as most home buyers prefer. Many have location problems, such as being next to something undesirable, like a freeway or high voltage power line.

The houses that are in great shape, in superior locations, with no big issues (think property condition, foundation / drainage or other costly repairs) and which are priced aggressively are selling quickly and with multiple offers in many cases.

 

Inventory of homes for sale in Los Gatos 95033

There is not an inventory shortage in the mountains! The 25 year average in June is 42.6 homes for sale, and we had 51! Check out the last 12 months!

Why is this so different?

Please click the image below to see a larger version of it in a new tab.

 

2000 - 2024 June Los Gatos Mountains 95033 Inventory of homes for sale

 

The Los Gatos Mountain area is much beloved for its good schools, beautiful views, serene setting, and the fact that a home buyer’s money goes so much farther there than in the valley.

In recent years, there have been big challenges with fires (and fire regulations) and insurance. (Not to mention the ongoing headache of beach traffic and other mountain issues.) Some homes in the mountains are simply prohibitive to insure. It is understandable if some home owners do not want to continue fighting their insurance companies.

 

Concluding thoughts on low inventory of homes for sale in Los Gatos

For people in town 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).  To get top dollar, the home must be priced aggressively, professionally staged (maybe 5% or less of homes don’t need it), easy to view and headache free. Buyers are shocked and amazed when sellers fix what’s wrong or provide a pest clearance upfront.

Sometime before the 5th- 10th of every month, there is updated information about the Los Gatos real estate market via our online Real Estate Report. Also available, download the 4 page printable report here:
http://rereport.com/scc/print/Mary.PopeHandySCC.pdf

 

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):

Los Gatos – all areas combined

Los Gatos 95030

Los Gatos 95032

Los Gatos 95033

Interested in buying or selling a home in Los Gatos? Please reach out to us for a confidential, no obligation consultation. Email is preferred: mary@popehandy.com and please let me know that you found us from the blog(s).

 

Browse Los Gatos homes for sale here

 

 

 

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