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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%) (+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%)


Condominiums and townhouses in Los Gatos – prices are rising (condos had taken the biggest hit during the corrections earlier, so this is overdue), days on market are still terribly long and everthing else is close to status quo.
 

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 (-37.5%) (+66.7%)
Pending Properties 10 12 (-16.7%) (+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!