Los Gatos condo sales: what does your money buy?

Los Gatos condo sales are good to watch as it provides info on the most affordable segment of the local real estate market. The condo / townhome market in Los Gatos includes a broad spectrum of housing and affordability across the 95030 and 95032 zip codes and its various school districts.

Included are senior condominiums (mostly but not exclusively at the Los Gatos Commons), which are usually the lowest priced homes and which are residences with age restrictions (mostly 55+). This can skew the data a little, so remember that if it looks too good to be true, it probably is (for all the non-seniors who would love the prices at the Commons in a non seniors complex).

Also incorporated in the chart below are townhouses. A townhouse is an architectural style, not a type of ownership. A townhouse really refers to properties with no other units above or below them. They are either in condo style ownership (essentially a condominium in the shape of a townhouse) or they are planned unit developments (PUDs), which are not condos and in which the ownership includes the land under the unit.  (See also: Is that Los Gatos house or townhouse actually a condo? on this blog.)

Chart of Los Gatos condo sales in 2020

Below please find data on the Los Gatos 95030 and 95032 condominium and townhome sales.

 

Los Gatos condo sales in 2020 year to date

 

How do these condo and townhome prices compare to other nearby areas? Here’s the most recent data from my RE Report (link is to the main site, the PDF with this chart is listed in left column).

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Los Gatos Real Estate Annual Trends – Condos

November 26, 2006

CONDOS % Change from Year Before
Area Year Sales Median Price Average Price DOM New Listings Sales Median Price Average Price New Listings
LG 1997 120 $307,500 $331,610 38 172
LG 1998 141 $369,500 $371,263 38 202 17.5% 20.2% 12.0% 17.4%
LG 1999 139 $415,000 $401,278 41 185 -1.4% 12.3% 8.1% -8.4%
LG 2000 142 $549,500 $546,117 27 168 2.2% 32.4% 36.1% -9.2%
LG 2001 87 $487,500 $508,365 63 243 -38.7% -11.3% -6.9% 44.6%
LG 2002 148 $507,500 $532,005 65 280 70.1% 4.1% 4.7% 15.2%
LG 2003 159 $529,000 $531,194 90 277 7.4% 4.2% -0.2% -1.1%
LG 2004 169 $563,000 $590,146 41 248 6.3% 6.4% 11.1% -10.5%
LG 2005 163 $650,000 $670,409 36 222 -3.6% 15.5% 13.6% -10.5%

DEFINITIONS

Med. Price
Median Price is that at which 50% of properties sold were above that price and 50% were below.
Ave. Price
Average Price is the sum of all prices divided by the number of sales.
Ave. DOM
Average Days on Market is the average time it took to sell all properties.
Newly Listed
How many properties came on the market in the given time period.

Info by Rick Campbell of The RE Report (a subscription I have)

Mary Pope-Handy, Realtor, CRS, ABR, e-PRO, SRES, ASP, RECS, CNHS
Helping Nice Folks to Buy & Sell Homes Since 1993
Co-Author: “Get The Best Deal When Selling Your Home In Silicon Valley”
Intero Real Estate Services, Los Gatos, CA (Silicon Valley)
408 357-5760 (Direct); 408 204-7673 (Cell); 408 715-0201 (eFax)
www.PopeHandy.com www.ValleyOfHeartsDelight.com
emailto: Mary@PopeHandy.com
Blog: www.LiveInLosGatos.com