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June 12, 2009

As noted many times in this blog about Los Gatos real estate, the market is varied from one price point and school district, among other things, to the next.

The homes in the lowest price points and “in the schools” seem to be selling faster.  For today’s view into the market, let’s consider homes in Los Gatos, with Los Gatos Schools, with 3 bedrooms and 2 bathrooms, priced at under $1,500,000.

The days on market or “DOM” for all pendings is a misleading number of almost 100 days. If the average DOM is 100, buyers can take their time, right?

But let’s have a closer look and sort the results. If we pull the data apart by the date of the sale (when buyers and sellers agreed on price and terms), a different picture of the market emerges. The average DOM now is 1/3 of what it was for the current pendings PRIOR to June 1st!

Street Address Bldg SqFt DOM Pend Date
LAVENDER LN 2727 6 6/8/2009
CHIRCO CT 1605 128 6/8/2009
CAMELLIA TE 1783 5 6/6/2009
BERSANO LN 2324 14 6/6/2009
BOYER LN 2368 18 6/5/2009
NEW YORK AV 1890 95 6/5/2009
GOLF LINKS DR 3200 20 6/4/2009
SHANNON RD 2650 0 6/2/2009
CARLTON CT 2550 87 6/2/2009
LAS MIRADAS DR 1300 12 5/30/2009
CARLESTER DR 1520 284 5/30/2009
LA CANADA CT 1150 35 5/29/2009
LAS MIRADAS DR 1820 135 5/28/2009
CILKER CT 2856 113 5/27/2009
JACARANDA WY 2750 46 5/26/2009
TOURNEY RD 3438 208 5/21/2009
LONGRIDGE RD 1296 6 5/18/2009
MARCHMONT DR 2179 75 5/16/2009
LOMA ALTA AV 1496 42 5/12/2009
CERRO VISTA DR 1706 18 5/9/2009
SHANNON RD 2060 34 5/4/2009

LOMA ALTA AV 1450 249 4/29/2009
QUARRY RD 1890 447 4/28/2009
GARDEN HILL DR 2016 17 4/24/2009
WINCHESTER BL 2665 311 3/23/2009
       
Av DOM all pendings   99.96  
Av DOM since 6-1   41.44  
Ave DOM before 6-1   130.94  

While some homes are not selling too fast, the pace appears to be quickening dramatically. It may be awhile before this is seen in the sold data, but it’s very much a “real time” snapshot of the market activity now.

Sellers, if you get your home into great shape and price it aggressively, you may be able to sell your home so fast that it will shock your neighbors.

Buyers, if you are trying to purchase a home that falls into this segment, it’s important to see homes that interest you quickly now, since they may not last a week or two.

If you’d like more information on data pertaining to your home or the type of home you’d like to buy, please contact me.  We can set up a meeting and go over the information that matches your own situation.

(Numbers by our MLS, MLSListings.com. Data exported, sorted and crunched by Mary Pope-Handy.)