Los Gatos real estate market trends and statistics

The Los Gatos real estate market is cooling, but it is still a strong seller’s market – just not as “white hot” as it was a few months ago, and the trends are all pointing to a calmer, slower, more balanced market.

As of today, June 8, some info on single family  homes in LG 95030 & 95032:

  • 55 single family homes are on the market in “Active” status – it was 43 when I last updated this article on May 5 (of those, 1 is listed as “agent only, show”, and 7 are “agent only, do not show”). The agent only listings means that they are not syndicated to other websites.
  • 1 house is under contract but there are contingencies of some kind in place (could be loan, appraisal, property inspection, buyer to sell current home, seller to find a replacement home) – so those sales may not go through.
  • 22 houses are sale pending, no contingencies (this is a small number compared to the active listings) – it was 27 at my last update for this post
  • 26 houses have closed escrow in the last month, down from 33 in early May (fewer pendings – sales are decelerating).
  • The average sale price to list price ratio for these 26 houses was 108%, a very significant drop over last month’s 118% .


Here is some data that I pulled directly from the MLS:

Lack of inventory remains pronounced, but there is a shift, and finally the inventory is higher than last year. But take a look at ALL of the previous years. What is “normal”? I think 70 – 80 is pretty normal.  When it gets to be over about 100 it seems to be a slower market.


Los Gatos Inventory 




Sale Price to List Price Ratio for Los Gatos 95030 & 95032 houses

The sale price to list price ratio is a new high in April but backed way down in May. The sky isn’t falling, though. May’s ratio is still one of the highest on record.

Sale Price to List Price Ratio - Los Gatos 95030 and 95032


Average sale price of homes sold in Los Gatos 95030 & 95032

The numbers really jump around a bit in Los Gatos. Home values 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. Even so, the average sale price hit a new high of over $4 million in May. I did a little more digging and for all school districts, the majority of homes did sell between $3 million and $5 million in May.

If you click on the image below, it will open in a new window and be easier to read.


Average sale price 2005 - 2022

Statistics at a glance for 95030 & 95032


First up, data from the RE Report for Los Gatos (“in town”). Below that are the live Altos Research charts, updated automatically each week. Altos uses list prices, not sold prices.

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.


Trends at a Glance: Los Gatos 95030 & 95032

The RE Report numbers are slightly different than the ones I pull directly from the MLS, but the trends are very much the same.  (The MLS stats seem to have duplicates, but it could be that the RE Report is not getting all of the data, we are still trying to sort that out.)

Year over year, prices are way up, but the month over month numbers are settling down. It’s overdue!

Trends At a Glance May 2022 Previous Month Year-over-Year
Median Price $3,828,000 (+4.8%) $3,651,000 $3,000,000 (+27.6%)
Average Price $4,069,610 (+12.8%) $3,606,330 $3,448,340 (+18.0%)
No. of Sales 29 (-17.1%) 35 57 (-49.1%)
Pending 60 (+5.3%) 57 63 (-4.8%)
Active 42 (+10.5%) 38 41 (+2.4%)
Sale vs. List Price 112.2% (-5.0%) 118.2% 106.5% (+5.4%)
Days on Market (+6.8%) 7 23 (-69.0%)
Days of Inventory 43 (+38.0%) 31 22 (+101.3%)


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:

Trends At a Glance May 2022 Previous Month Year-over-Year
Median Price $1,417,500 (-24.7%) $1,883,500 $1,515,000 (-6.4%)
Average Price $1,493,810 (-17.3%) $1,805,560 $1,618,120 (-7.7%)
No. of Sales 18 (+28.6%) 14 23 (-21.7%)
Pending 18 (-33.3%) 27 24 (-25.0%)
Active 16 (+14.3%) 14 22 (-27.3%)
Sale vs. List Price 108.2% (+3.1%) 104.9% 103.2% (+4.9%)
Days on Market 28 (+15.1%) 24 35 (-21.6%)
Days of Inventory 27 (-8.0%) 29 29 (-7.1%)


Los Gatos Condo Market Trends at a Glance

Los Gatos Condos have appreciated a hair from last year, but is down month over month. This data can swing wildly. Better is getting the stats for the complex or area where you’re thinking of buying or selling. Added to the mix now are the units at the North 40.

Trends At a Glance May 2022 Previous Month Year-over-Year
Median Price $1,284,000 (-22.2%) $1,650,000 $1,282,500 (+0.1%)
Average Price $1,307,580 (-15.3%) $1,543,470 $1,281,400 (+2.0%)
No. of Sales 20 (+17.6%) 17 10 (+100.0%)
Pending 16 (-33.3%) 24 15 (+6.7%)
Active 13 (-13.3%) 15 10 (+30.0%)
Sale vs. List Price 106.5% (-1.0%) 107.6% 103.9% (+2.4%)
Days on Market 19 (+47.0%) 13 16 (+23.1%)
Days of Inventory 20 (-23.8%) 26 30 (-35.0%)


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 real estate 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 strong 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).


Now a graph of the Median Price trends for 95030:



And 95032, which is behaving quite differently from 95030:



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.


The RE REPORT Los Gatos real estate market report can be viewed here (please click). Additionally, from this page or the main one (link above) you can see this type of information for condos and townhomes plus the market data for Monte Sereno, the Los Gatos Mountains, San Jose as a whole, or areas of San Jose such as Cambrian, Almaden, and Willow Glen.


Getting to Know Your Market

Finally, it should be noted that “the Los Gatos housing market” is really a compilation of several smaller markets. It’s quite different in the over $3 million range versus the under $1 million range (if you can locate a house under a million 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.

Los Gatos real estate market graphic with home near downtown

From time to time I will blog about real estate market conditions in particular neighborhoods – it is possible to run the statistics via our multiple listing service by any area we care to map out. If you’re thinking of buying or selling a home in town or nearby, please give me a call. We can look into not just THE market, but YOUR market!

For more on the current local market, check out my posts on the Monte Sereno Market on this blog and other Silicon Valley market updates over at my Valley of Heart’s Delight blog! Occasionally I will do other market analysis, like my 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!

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