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Critically Low Inventory of Homes for Sale in Los Gatos

Critically Low Inventory of Homes for Sale in Los Gatos

Home buyers are really struggling to find properties that fit their needs and their budget right now. This morning I pulled the data and saw that we now have a critically low inventory of homes for sale in Los Gatos in 95030 and 95032, or “in town”. Below, please find the numbers so that you can see what a more typical month in the Gem City of the Foothills looks like. Separately, I’ll run the data for Los Gatos 95033, the Los Gatos Mountains.

Inventory of homes for sale in Los Gatos 95030 & 95032

Here are the numbers via MLS Listings for single family homes (99% houses, tiny fraction of duet homes, or single family attached – not duplexes) from January 2000 through June 2024.

In “normal years” (apart from the Great Recession or Global Financial Collapse and its fallout), we often have 80-100 homes listed for sale in town. Inventory is low right now, but it’s closer to the 25 year average than we’ve seen recently. Please note, this is not for just one school district, zip code part of town, price point, etc. If we teased out the data by school district or some other factor it might shake out a little differently. Think of this as a very broad, general picture of housing availability in town.

Having 100 houses on the market is actually not too bad for June. From about 2012 and later, it’s a little low, but not inordinately so.

Please click the image below to see a larger version of it in a new tab.

 

Inventory of homes for sale in Los Gatos - single family homes by month 2000-2024 June with averages

 

Is the low inventory really the issue?

I believe that the problem isn’t so much the number of homes for sale as the quality of homes for sale. Many of them have location problems or condition issues. Today’s buyers want to purchase move-in ready houses in a quiet spot with no location deficiencies. A good chuck of listings today are from “have to sell” situations and are not as updated as most home buyers prefer. Many have location problems, such as being next to something undesirable, like a freeway or high voltage power line.

The houses that are in great shape, in superior locations, with no big issues (think property condition, foundation / drainage or other costly repairs) and which are priced aggressively are selling quickly and with multiple offers in many cases.

 

Inventory of homes for sale in Los Gatos 95033

There is not an inventory shortage in the mountains! The 25 year average in June is 42.6 homes for sale, and we had 51! Check out the last 12 months!

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Los Gatos Zip Code Map

Los Gatos Zip Code Map

Los Gatos zip code mapsWelcome to Los Gatos, a charming town located in the heart of California’s Silicon Valley. Whether you’re a longtime resident or a visitor exploring the area, understanding the neighborhoods and their unique characteristics is essential. That’s where the Los Gatos Zip Code Map comes in.

With the Los Gatos Zip Code Map, you can more easily navigate the town’s distinct neighborhoods, from the vibrant downtown area to the peaceful residential communities. This map allows you to explore each zip code, providing valuable insights into the amenities, attractions, and lifestyle of the different areas. Are you searching for a bustling neighborhood with trendy shops and world-class dining? Or perhaps a serene community surrounded by nature and outdoor recreational opportunities? The Los Gatos Zip Code Map will help you discover the perfect neighborhood that fits your preferences and lifestyle.

Whether you’re looking to relocate, plan a visit, or simply learn more about Los Gatos, the zip code map is your ultimate guide to exploring the town’s diverse neighborhoods. Start your journey today and unlock the secrets of Los Gatos with the Los Gatos Zip Code Map.

Overview of Los Gatos zip code map

The Los Gatos zip code map covers the several zip codes for Los Gatos. Sometimes people ask “what is the zip code of Los Gatos?”, but it’s not one – it’s several, postal codes. The three Los Gatos zip codes are

  • 95030 This is the zip code covering most of the downtown and historic areas and also the area between Los Gatos and Saratoga on the west side of Los Gatos-Saratoga Road. Further, most of Monte Sereno is in this same postal code. If you want to buy in one of the historic districts, this is your zip code!
  • 95032 This zip code is the most stretched out. Some of it is close to downtown Los Gatos, but it also reaches to the far east end of town, the far west end of town, and the north end of town. A little sliver of Monte Sereno shares this zone, too.
  • 95033. The last one is in the coastal mountain range, also known as the Los Gatos Mountains or sometimes the Santa Cruz Mountains. This area has a Los Gatos mailing address, but it’s an unincorporated area, not part of the town. There are many smaller communities in the mountains.

There’s one more zip code associated with the town, and that’s 95031, used only for post office boxes.

Explaining the Los Gatos zip code map

Some recent changes to the zip code boundaries should be mentioned. A few years back, the post office reorganized the way that 95030 and 95032 split up most of the 9 or 10 square miles which comprise the “town of Los Gatos”. It used to be an east-west divide, and now it’s closer to a north and south split, but not exactly that either.

I love this map because it looks as odd as the new distribution feels!  The 95033 zip code is unincorporated, mostly in Santa Clara County, but as you can see, much of it falls west of highway 35 (Skyline Blvd) and is in Santa Cruz County.  When a home has the 95033 zip code, it is analogous to the property being “in the mountains”.

Here’s a map of the “in town” areas of Los Gatos. Note the strange borderlines!

Los Gatos zip code map – in town

A little of 95033 is in the incorporated area of Los Gatos, but most is not.

 

Map of Los Gatos zip codes

 

Los Gatos zip code map – mountains area, 95033

And a similar map showing 95033 (mailing address Los Gatos). As you can see, it’s not the only mountain area zip code, but it’s the only one with a Los Gatos mailing address.

The border with Santa Cruz County sometimes is right at Summit Road, but other times just close to it. Something that can surprise folks is seeing homes in Santa Cruz County, rather than Santa Clara County, with a Los Gatos address.

 

Map of Los Gatos 95033

 

Zip codes and schools:

Neither the town’s boundaries nor the zip code boundaries line up with the school district boundaries.  There are homes in both 95032 and 95030 which are in the Los Gatos School District, for instance – though nearly all of 95030 is “in the schools”. (And just as confusing – a few homes in San Jose’s Almaden Valley with a 95120 zip code are in the Los Gatos School District too.)

Notes:

(1) Monte Sereno shares the 95030 and the 95032 zip codes with Los Gatos

(2) There are some funky pockets near the town’s borders where the homes may actually belong to Los Gatos but have a zip code of the neighboring community or vice versa – this is rare, but it happens.

  • A patch of Campbell near Pollard and Quito has a Los Gatos 95032 mailing address, but it’s actually Campbell.
  • Another pocket of Los Gatos near National and Carlton has a mailing address of San Jose 95124, but it’s actually part of the town of Los Gatos.
  •  Part of Blossom Hill Road with a LG mailing address is actually San Jose, 95124 (Cambrian).
  • An area near Leigh High (parts of Noella, Selinda, and others) is also in San Jose, but the mailing address is again Los Gatos 95032

Zip codes in Los Gatos can be frustrating to understand, since they don’t line up with schools, town boundaries, and they sometimes have bits far from the main area of that postal code.

Related reading and information

Town of Los Gatos zoning map (on the town’s website)

List of Los Gatos neighborhoods (on this website)

What are some of the most popular neighborhoods in Los Gatos?

United States Postal Service page on the zip codes

Los Gatos Luxury Home Market

Los Gatos Luxury Home Market

The Los Gatos luxury home market is faring surprisingly well now, given the strange real estate market that we are currently experiencing with ultra low inventory, interest rate hikes, and the stock market being off after Fitch’s downgrade.

Earlier this year it moved around with extremely low inventory in January and an easier time selling to a whopping 13 months of inventory in March.

Some of the bouncing around is a reflection of the very low inventory and accordingly, very lo numbers of home sales. It’s important to take it with a big grain of salt. The best homes, meaning that they are in good shape, don’t have location issues, and are well priced, continue to sell in 1 – 3 weeks.

For an in-depth article about the Los Gatos real estate market generally (not just the most expensive properties), please check our linked article, which is updated monthly!

Los Gatos luxury home market months of inventory – homes listed for sale at $4 million or more

The months of inventory is the single best gauge to use in deciding how hot or cool the market is. For July 2023 it fell to 2.2 months of inventory, which is a decently warm seller’s market.

Los Gatos luxury homes market data - 95030 95032 4 mil and up months of inventory

Most of the luxury properties in Los Gatos are under $8 million, and that upper level can be much cooler than the $4 – $6 million market.

I tried to pull the same info for the Los Gatos mountains 95033, but kept getting an error message from the MLS that there were too few sales to chart meaningfully.

Altos Charts for homes listed in the top 25% or top quartile for Los Gatos 95030, 95032 and 95033

These will be automatically updated, so check back often for a quick update on the Los Gatos real estate data for this upper tier!

Median list price

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Los Gatos real estate prices

Image of piggy bank, coins, and words "Home prices in Los Gatos - how far will your money go?"How far does your home buying budget go in Los Gatos? Los Gatos real estate prices aren’t low, but they aren’t the highest in Silicon Valley, either, despite having great schools, wonderful downtown,  and both architectural and natural beauty in abundance. In this article we’re looking at “in town” areas with zip codes 95030 and 95032 (the Los Gatos Mountains is 95033).

MLS Research by 8 price increments for LG

Earlier today I spent some time going through the MLS and looking at single family homes, townhouses, and condominiums which are active, pending, or sold in the last 2 months or so in town (95030 and 95032, MLS area 16). The narrative below reflects that research.  These 8 segments are not evenly split, but reflect more general levels such as entry level, mid level, and luxury homes.

1 – Los Gatos real estate prices: lowest tier, under $700,000

Homes for sale listed in the lowest price points are condos at the Los Gatos Commons, a senior community along Alberto Way near downtown. In the last 60 days there have been 2 such condominiums sold, all 2 bedroom, 2 bathroom.

2 – Los Gatos real estate prices between $700,000 and $1 million – general entry level

For non-seniors, the next price point represents entry level homes in town. Normally these would be 1 or 2 bedroom condominiums or townhouses, but in recent weeks there were a couple of very small single family homes (under 600 SF) that appear to be tear-downs and are sold for land value. Normally you’ll find 1 – 2 bedroom units in this bracket.
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Los Gatos real estate market trends by price point and high school district

There are many factors impacting the Los Gatos real estate market, including the price point and the elementary or high school district. This post is updated every month or two. Today we’ll look at the Los Gatos realty market by pricing tiers and high school district using the months of inventory as a data point. The months of inventory, or MOI, is the currently active (for sale, no contract or pending sale) homes for sale divided by the number of homes using the same criteria which have closed escrow in the last 30 days.

These numbers were run today using MLSListings.com and it’s possible that a few more homes will be recorded as closed sales or new homes added to the market after I ran these numbers. One other disclaimer: sometimes the number of closed sales is very low or is at 0. This can be for many reasons. In some cases, there are a few which are sale pending and simply haven’t closed recently. In other cases, the market might actually be empty in those tiers, indicating a possible lack of demand or inventory. That being said, what do the numbers say?

Los Gatos real estate months of inventory in 95030 and 95032 combined

The overall MOI for the town as a whole with 95030 and 95032 zip codes shows a mild seller’s market, with post-summer cooling likely in what is a typical seasonal pattern. It is a bit of a mixed market when looking at the town as a whole, but less so when viewed by high school district or price point. We’ll see when the month is over, but already in many parts of Santa Clara County, the real estate market is returning to seasonal patterns with some cool pockets and some which remain hotter.

 

 

And here’s the same chart with data from last February. You can see that in mid-winter the inventory was smaller and moving slightly slower.

 

2019-2-12 Los Gatos Months of Inventory 1 - 95030 95032

 

Looking back farther, here’s the same info for last November – the overall absorption rate isn’t much different from right now, and inventory and sales are neck-and-neck. Almost exactly a year ago, the market doesn’t look too different.

 

Los Gatos 95030 and 95032

 

And a reference from April, when the market was red hot:

 

 

The real estate market for homes with the Los Gatos – Saratoga Joint Union High School District only

Now let’s view just the homes which are in the Los Gatos – Saratoga Joint Union High School District (or homes “in the schools” as locals say).Houses for sale with Los Gatos schools tend to be more pricey than those in neighboring school districts. This isn’t just the schools, but is also a function of being closer to downtown Los Gatos. The lowest priced homes in this area are seldom listed for less than $1 million.

 

 

Once again, we’ll compare it against last February. While the overall market is moving faster today than in February, here we can see that for homes in the Los Gatos School District were moving more quickly in winter. While the number of sales hasn’t changed much, inventory has gone up in this sector.

 

2019-2-12 Los Gatos Months of Inventory 2 - LGSUHSD

 

From last November, again, not a ton different between then and now.

 

Los Gatos 95030 95032 LG Schools

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