As of today, Sept 13, 2023, the Los Gatos real estate market in 95030 & 95032 has gained some inventory, but pending and closed sales are both strong, and the sale to list price ratio is up. The homes that are nicely remodeled and priced aggressively are selling quickly.
Numbers for today (pulled from the MLS), going back 30 days from yesterday:
- 47 houses for sale
- 24 are contingent or sale pending
- 17 have closed in the last 30 days
- average home size 2,687 SF
- average lot size 21,467
- average days on market = 37
- average sale price $3,246,294
- median sale price $2,680,000
- average sale to list price ratio 102%
Trends at a Glance from the RE Report
The numbers below analyze data gathered during the first week of each month and cover real estate statistics from the month prior in Los Gatos 95030 & 95032 (all areas / school districts), or MLS “area 16”. See the full RE Report here.
These numbers never line up exactly with the MLS figures, but the data trends line up:
| Trends At a Glance | Aug 2023 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $3,200,000 (+13.2%) | $2,828,000 | $2,675,000 (+19.6%) |
| Average Price | $3,386,360 (-1.0%) | $3,422,090 | $2,835,440 (+19.4%) |
| No. of Sales | 25 (+47.1%) | 17 | 36 (-30.6%) |
| Pending | 21 (-16.0%) | 25 | 45 (-53.3%) |
| Active | 41 (+57.7%) | 26 | 46 (-10.9%) |
| Sale vs. List Price | 102.4% (+0.5%) | 101.9% | 98.4% (+4.1%) |
| Days on Market | 32 (+0.1%) | 32 | 37 (-14.8%) |
| Days of Inventory | 49 (+7.2%) | 46 | 38 (+28.3%) |
Similar charts for the Los Gatos Mountains and the condo market are further down in this article.
Los Gatos real estate market statistics: multi year data by month
Here is some Los Gatos real estate market data that I pulled directly from the MLS today.
Inventory of available homes for sale in Los Gatos 95030 and Los Gatos 95032
A quick glance at the last few years suggests that this inventory remains low by a wide margin.
Numbers of homes sold
Sales came up a little, but are still on the low side for most years.
Months of Inventory
The months of inventory is taken from the rate of sales by the rate of listings. August’s number is not particularly extraordinary – higher than some, lower than others.
Average sale price of homes sold in Los Gatos 95030 & 95032 – Los Gatos house prices
The numbers really jump around a bit in Los Gatos. Los Gatos single family home prices aren’t quite that volatile. What can happen is that in one month, there may be more sales in one school district, home size, or price point than in another. If one month a high proportion of entry level homes sell in a less expensive school district, and the next month a lot of properties sold in a more expensive area with larger homes, it will jump.
The average sale prices are up annually and monthly.
Median Sale Price – up monthly and annually
RE REPORT: Additional Los Gatos Real Estate Statistics at a glance for 95030 & 95032
The RE Report has some info on the Los Gatos Mountains, but I do not believe it covers all of what we would have as 95033 or MLS “area 23”. You can see the mountains market summary here, but please click the link above to see the whole report:
LG Mountains Trends at a Glance
The median and average sale prices are both down year over year and month over month by this set of data. Please keep in mind that with just 10 sales, this may not be reliable info and for valuation on any given home it will be imperative to check the nearby sold properties and their values.
| Trends At a Glance | Aug 2023 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,327,500 (-4.0%) | $1,383,500 | $1,412,500 (-6.0%) |
| Average Price | $1,379,640 (-12.8%) | $1,581,580 | $1,540,690 (-10.5%) |
| No. of Sales | 10 (-16.7%) | 12 | 13 (-23.1%) |
| Pending | 9 (-30.8%) | 13 | 6 (+50.0%) |
| Active | 46 (+43.8%) | 32 | 28 (+64.3%) |
| Sale vs. List Price | 98.7% (-0.9%) | 99.6% | 97.8% (+0.9%) |
| Days on Market | 33 (-11.6%) | 37 | 42 (-22.6%) |
| Days of Inventory | 138 (+72.5%) | 80 | 65 (+113.6%) |
Los Gatos Condo Market Trends at a Glance
Los Gatos Condos are selling decently now, with prices off from the month before but up double digits from last year. The days on market are a swift 14 and the sale to list price ratio is a hot 104.3%.
| Trends At a Glance | Aug 2023 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,400,000 (-1.4%) | $1,420,000 | $1,200,000 (+16.7%) |
| Average Price | $1,295,050 (-7.5%) | $1,399,550 | $1,161,860 (+11.5%) |
| No. of Sales | 10 (-9.1%) | 11 | 7 (+42.9%) |
| Pending | 7 (-41.7%) | 12 | 7 (0.0%) |
| Active | 15 (+36.4%) | 11 | 14 (+7.1%) |
| Sale vs. List Price | 104.3% (+4.3%) | 100.0% | 97.6% (+6.8%) |
| Days on Market | 14 (-63.1%) | 39 | 43 (-66.2%) |
| Days of Inventory | 45 (+50.0%) | 30 | 60 (-25.0%) |
Live Charts, Updated Weekly
Altos Research Profiles of Los Gatos single family homes by zip code
A link is provided to the full weekly report for each zip code. It will bring you to the page for single family homes (houses and duet, or single family attached, homes) in the Los Gatos housing market, but from there you can click on a tab and view the same type of data for condominiums and townhouses if any data exists for them.
Close to downtown – 95030 (read the full weekly report for Los Gatos 95030, which is automatically updated, here):
A number to watch in the above chart is “price decreased”. Right now 25% of listings in this zip code are taking price reductions. That’s in the range of normal (even in a hot market, some sellers price their homes unrealistically high).
Primarily East, West, and North Los Gatos (view the Altos Research report for Los Gatos 95032 HERE):
Far fewer homes in 95032 are taking price reductions right now. The market action index is also rising in 95032, while it’s declining in 95030. I suspect it’s that prices are more in budget in 95032, so there are more buyers able to compete in those price points.
The Los Gatos Mountains / Santa Cruz Mountains – 95033 (see the full 95033 weekly report here, no condo or TH in these areas):
The Mountain market is usually cooler than the valley floor, but also more affordable, generally. Interesting that 33% of those listings have needed a price reduction.
All 3 Zip Codes combined
Overall, Los Gatos is in a warm seller’s market with extremely high demand and some cooling. Inventory is rising, finally. The days on market are skewed because some homes are on the market for over a year (super expensive houses can take a long time to sell).
Altos Research Housing Market Charts by Pricing Quartile
Now a graph of the Median Price trends for 95030:
And 95032:
And 95033 (The Los Gatos Mountains)
The Mountain market has the greatest range of pricing by far, but the Median Price is well under either 95032 or 95030.
Getting to Know Your Market
Finally, it should be noted that “the Los Gatos real estate market” is really a compilation of several smaller markets. It’s quite different in the over $3 or $3.5 million range versus the under $1.8 million range (if you can locate a house under 1.8 dollars). It’s also varied from one school district to the next and often one subdivision or neighborhood to the next. The Glenridge market is going to be quite distinct from the Alta Vista or Rinconada Hills market.
Occasionally we will do other market analysis, like our article on Los Gatos real estate market trends by price point and high school district. Check it out!
Lastly, if you like this information and find it valuable, please consider reaching out to us when it’s time for you to buy or sell a home in Los Gatos or anywhere in Santa Clara County. We would love to hear from you!
