February 05, 2010
What’s the market doing? As always, it depends on which part of the market. For an overview of the Los Gatos Real Estate Market, my Silicon Valley Real Estate Report will update you by home type (house or condo/townhouse). In January, how things seemed depended a lot on what you were comparing it to. Clearly it’s a lot better than a year ago – but we have far to go.Single family homes (houses and duet homes) in Los Gatos – prices are slipping (thought this isn’t the case in all parts of the Los Gatos real estate market), sales were up as compared to a year ago, inventory is still low, DOM is shrinking and the list price to sales price ratio is rising slowly. So another month of mixed signals but clearly some “green shoots” of hope.
| Trends At a Glance | Jan 2010 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $985,000 | $1,200,000 (-17.9%) | $1,672,500 (-41.1%) |
| Average Price | $1,227,090 | $1,382,760 (-11.3%) | $1,557,390 (-21.2%) |
| No. of Sales | 12 | 25 (-52.0%) | 9 (+33.3%) |
| Pending Properties | 25 | 30 (-16.7%) | 23 (+8.7%) |
| Active | 93 | 87 (+6.9%) | 163 (-42.9%) |
| Sale vs. List Price | 97.4% | 96.8% (+0.7%) | 94.2% (+3.4%) |
| Days on Market | 43 | 59 (-27.0%) | 60 (-29.0%) |
| Trends At a Glance | Jan 2010 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $675,000 | $561,500 (+20.2%) | $370,500 (+82.2%) |
| Average Price | $679,251 | $590,738 (+15.0%) | $412,833 (+64.5%) |
| No. of Sales | 5 | 8 (-37.5%) | 3 (+66.7%) |
| Pending Properties | 10 | 12 (-16.7%) | 5 (+100.0%) |
| Active | 48 | 36 (+33.3%) | 55 (-12.7%) |
| Sale vs. List Price | 96.9% | 97.2% (-0.3%) | 104.7% (-7.5%) |
| Days on Market | 140 | 103 (+35.2%) | 146 (-4.0%) |
To get the whole scoop on the market for Los Gatos (or Monte Sereno, Saratoga, Cambrian Park, Almaden Valley) or anywhere in San Jose or Santa Clara County, please click on the links above!
