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).

 

Santa Clara County condo stats by city

 

Los Gatos condo sales pricing is near the top of real estate values for the county.

What do Los Gatos townhomes and condos cost (for non-senior communities)?

I just ran the last 90 days of sales in town.

Los Gatos condo sales of non age restricted unit ranged from $635,000 to $1,955,000. The highest price went to a very young (2016 built) townhouse style condo with over 2000 SF  of living space, a nice backyard patio, and an attached 2 car garage. The average of these was 1383 SF with an average sale price of $1,085,714.

The Los Gatos townhome sales of non age restricted homes spanned from $1,160,000 to $1,630,000. The average living space was 1877 SF and average sale price $1,401,154.

Over the last 365 days, senior housing in Los Gatos at The Commons has ranged from about $580,000 to almost $700,000.

As a general rule of thumb:

  • Townhouses or townhomes (whether condo ownership or PUDs) will sell for more than apartment style condominiums (no matter whether they are listed as townhomes or condos). Right now, with Covid-19 raging, the outside space that townhomes usually provide are highly valued.
  • Homes with the Los Gatos schools (LGHS) will sell for more than those with Campbell schools (Westmont High) or Union Schools (Leigh High)
  • Younger properties will sell for much more than older ones in most cases
  • Communities with many amenities, such as pools, tennis courts, workout rooms etc. will have higher dues than those with few or no HOA add ons
  • If you want a townhome style property, search also under condominiums as some listing agents will list it under the ownership style rather than the architectural style
  • Homes that were built to be condominiums or townhouses usually sell for more than units which began as apartments and were later converted to condo ownership. Those same properties often do not have laundry in the units.
  • The most affordable non-senior condominiums are often the ones located on Lora Drive near Highway 85.

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