Select Page

Los Gatos real estate market graphic with home near downtownAs of today, February 12, 2024, the Los Gatos real estate market in 95030 & 95032 remains fairly strong, but the closed sales in January were cooler than it was a few months ago. Homes coming onto the market now that are in good shape, don’t have location issues, and are priced well are selling fast – within 2 weeks.

Across the county, first time home buyers are the most active and more entry level prices is the strongest segment.

Los Gatos real estate market statistics for the last 30 days (not a calendar month)

Numbers for today (pulled from the MLS), going back to January 12 (1 month ago):

  • 14 houses for sale today (Feb 12, 2024) (1 has a Los Gatos mailing address, not actually in the town)
  • 2 are contingent, 8 are sale pending (no contingencies) – same as last month
  • 5 have closed in the last 30 days (1 of them has a LG mailing address, isn’t actually in town)
    • average home size 1,924 SF
    • average lot size 12,877 SF
    • average days on market = 58
    • average sale price  $2,645,000
    • median sale price $2,520,000
    • average sale to list price ratio 101%

The sales since mid-February are smaller, more modest homes and don’t reflect the wider price points that we normally see in town.

Trends at a Glance from the RE Report for Los Gatos 95030 & 95032

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.  The market was a little cooler in January, but the average home price rose both annually and monthly just the same.

Trends At a Glance Jan 2024 Previous Month Year-over-Year
Median Price $3,510,400 (+15.3%) $3,044,500 $3,560,000 (-1.4%)
Average Price $3,558,130 (+17.6%) $3,024,940 $3,388,160 (+5.0%)
No. of Sales (-62.5%) 16 16 (-62.5%)
Pending 17 (+88.9%) 9 (+183.3%)
Active 24 (+9.1%) 22 28 (-14.3%)
Sale vs. List Price 104.6% (+6.0%) 98.7% 100.4% (+4.2%)
Days on Market 34 (-13.4%) 39 63 (-46.7%)
Days of Inventory 120 (+190.9%) 41 53 (+128.6%)

 

 

Further below you’ll find similar charts for houses in the Los Gatos Mountains and also condos and townhomes “in town”.

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, though better than the previous two years.

 

Inventory of homes for sale in Los Gatos 95030 and 95032, MLS Area 16

 

Numbers of homes sold

Sales were extremely low. It is unclear what that is the case.

 

Number of sales in Los Gatos 95030 and 95032, MLS Area 16


Months of Inventory

 

The months of inventory is taken from the rate of sales by the rate of listings. The low number of sales is reflected in this figure – looks like a stone cold market, which is not really the case in all  pricing tiers. What we do have are an inordinately high number of extremely expensive homes on the market. I believe that’s skewing this figure.

 

Months of Inventory in Los Gatos 95030 95032 MLS area 16

 

 

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 monthly but down annually. With only 6 sales we really cannot know how values are holding up. We’d have to study the actual sold properties themselves.

 

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

 

Median Sale Price – up annually

It is up monthly and down annually. Again, just a handful of sales, so these figures are not super helpful for reflecting market conditions due to a lack of data points.

 

Los Gatos real estate market statistics - Median sale price Los Gatos 95030 and 95032 MLS area 16

RE REPORT: Additional Los Gatos Real Estate Statistics 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 market appears to have slipped a little in the mountains, but with only 6 homes it’s hard to know that as it could simply be that less expensive homes sold, or harder to sell properties finally sold.

Trends At a Glance Jan 2024 Previous Month Year-over-Year
Median Price $1,112,940 (-0.6%) $1,120,000 $1,986,000 (-44.0%)
Average Price $1,096,810 (-8.3%) $1,196,390 $1,986,000 (-44.8%)
No. of Sales (-33.3%) 9 (+200.0%)
Pending (-45.5%) 11 (+200.0%)
Active 19 (-9.5%) 21 16 (+18.8%)
Sale vs. List Price 97.0% (+0.3%) 96.8% 93.0% (+4.4%)
Days on Market 72 (+12.0%) 65 115 (-37.1%)
Days of Inventory 95 (+35.7%) 70 240 (-60.4%)

Los Gatos Condo Market Trends at a Glance

Los Gatos Condos are selling nicely – the market heated up tons between December and January!

Trends At a Glance Jan 2024 Previous Month Year-over-Year
Median Price $1,757,500 (+132.8%) $755,000 $1,040,000 (+69.0%)
Average Price $1,567,330 (+33.6%) $1,172,810 $1,040,000 (+50.7%)
No. of Sales (+100.0%) 3 (+200.0%)
Pending (0.0%) 6 (+100.0%)
Active (+33.3%) 3 16 (-75.0%)
Sale vs. List Price 100.0% (+0.3%) 99.8% 99.0% (+1.0%)
Days on Market 21 (-65.2%) 59 50 (-58.2%)
Days of Inventory 20 (-33.3%) 30 240 (-91.7%)

 

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):

Live Charts, Updated Weekly

 

 

A number to watch in the above chart is “price decreased”. Right now 46% of listings in this zip code are taking price reductions. That’s above the range of normal, which would be about 30%.

 

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) – many more homes have had list price cuts:

 

 

The Mountain market is usually cooler than the valley floor, but also more affordable, generally.

 

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 Los Gatos Real Estate 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!