The Luxury Home Real Estate Market in Los Gatos & Monte Sereno: today I crunched the numbers from MLS Listings to get the absorption rate or months of inventory for estate properties over $2,000,000 in Los Gatos 95030, Los Gatos 95032, Monte Sereno (both 95030 & 95032), and the Los Gatos Mountains 95033. Monte Sereno is a red hot market for estate properties, while the Los Gatos Mountain areas are not moving a lot of super expensive properties. Have a look below.
Next we’ll look at live charts from Altos Research (to which I have a subscription)
List prices of homes for sale in the topmost price quartile in Los Gatos, Monte Sereno and the Los Gatos Mountains
The most expensive of these four areas is Monte Sereno.
Notice, for a moment, the “dip” in the last year in each area. For Monte Sereno, it came early, around April. For Los Gatos 95030 (the area closest to downtown), it came a bit later, in around June. For Los Gatos 95032 it was later still, and much milder, with the low point in about September. And the Los Gatos Mountains, which tend to move very slowly in the best of markets, had a gentle downward drop that appears to have hit bottom in November. It as if there had been a rolling wave…. Monte Sereno got hit, and then recovered, the fastest. The lower the prices, the gentler the fall and rise. Interesting!
Also of interest is that the list prices in the mountains and in Monte Sereno are as good as or better than a year ago, but not so in Los Gatos 95030 or Los Gatos 95032.
Average Days on Market for Los Gatos, Monte Sereno & the Los Gatos Mountains among the top tier of pricing in each
Available inventory for most costly quartile of houses in Los Gatos 95030, Los Gatos 95032, Monte Sereno, and the Los Gatos Mountain communities in 95033
Next, a longer view of history – this time going back three years.
For sellers of these higher priced properties in Los Gatos, it’s important to not be confused by what’s happening in the lower price ranges (where the market is much, much hotter, especially for homes in good shape and with the Los Gatos schools). For buyers, it’s an opportunity to purchase a property without so much competition as you might find in Los Altos Hills or Palo Alto. These expensive homes offer wonderful amenities, a lot of space and a lovely setting in most cases – and overall, are a “good value” right now since this is not an overheated segment of the market.
What should you look for when buying a luxury home in Silicon Valley?
Browse luxury homes for sale in Los Gatos (scroll to end of post for current list with photos, details etc.)