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June 05, 2009

Countywide, prices are marching upward! It is a HOT seller’s market in the lower price ranges of Silicon Valley, especially if a home is not a distressed sale. Rising prices bring a cooler market in most areas and price points, though.

Los Gatos is a mixed bag too. Lower priced homes “in the schools” are selling nicely. Although it’s more challenging to sell higher priced homes, there are quite a few homes over $2,000,000 which are sale pending. 

Below please find a snapshot of the statistics for closed sales of single family homes in Los Gatos for May 2009:

Trends At a Glance May 2009 Previous Month Year-over Year
Median Price $1,012,000 $955,000 (+6.0%) $1,377,500 (-26.5%)
Average Price $1,111,280 $1,035,330 (+7.3%) $1,438,880 (-22.8%)
No. of Sales 20 25 (-20.0%) 36 (-44.4%)
Pending Properties 37 26 (+42.3%) 37 (0.0%)
Active 160 170 (-5.9%) 163 (-1.8%)
Sale vs. List Price 95.6% 95.0% (+0.5%) 97.5% (-2.0%)
Days on Market 55 54 (+0.7%) 27 (+104.8%)

To get the whole story on Los Gatos, Monte Sereno, Saratoga, San Jose and all of Santa Clara County, both condos or townhomes and houses, please visit my online Real Estate Report:

Los Gatos real estate for May 2009

Monte Sereno real estate for May 2009
Saratoga, CA real estate for May 2009
Cambrian Park real estate for May 2009
Almaden Valley real estate for May 2009
Cupertino real estate for May 2009

As always, please remember that the market really is a collection of smaller markets. What’s happening in one part of town or price range may not be happening in your home’s area or price point. Please contact me for assistance in understanding the market you’re most interested in.