A spacious 4 bed 3 bath open floorplan home on a deep lot
in a beautiful, convenient East Los Gatos cul de sac!
Spacious home featuring hardwood floors throughout. Large kitchen with abundant counter space and breakfast bar. Open living space overlooks the back yard. Four bedrooms, two with en suite baths. Deep back yard provided newer, heated lap pool with safety cover, large deck, and storage shed.
Highly regarded schools: Alta Vista Elementary (convenient access via pedestrian bridge), Union Middle, and Leigh High.
With average and median home prices between $1.5 and $2 million, it can be hard to find Los Gatos homes for sale under $1,000,000. Look hard enough, though, and there’s often an opportunity – usually a condo, sometimes a townhouse, and once in awhile, a house on a lot. Ok, to be fair, if it’s a single family home on a piece of land, it may well be a tear down – what my daughter used to call a “dozer”, as in “bull dozer”. But it’s a starting point!
What are the best odds for finding Los Gatos homes for sale under $1,000,000?
There will be some strategy involved to find a lower priced home in Los Gatos 95030 or 95032. First, it’s important to understand the impact of the proximity to downtown and the role of schools. Find a home with Los Gatos High that’s in one of the official historic districts and you are likely to pay a premium for it! Go further out, and away from pristine Victorian homes from 100 years ago. and the prices will soften. Things will also improve if you consider smaller homes on smaller lots.
A townhouse with Westmont or Leigh High may be in budget if it needs remodeling and updating. There are some really nice communities in town, such as Los Gatos Woods, where if you’re willing to do a little work you might be able to squeak by at under one million dollars.
To improve the odds of success, you may want to concentrate on either condominiums or on properties in the 95032 zip code with Campbell Union High School District (Westmont or Leigh High). Or improve the odds better and go beyond the town’s boundaries and consider the Los Gatos Mountains (zip code 95033). With the latter, you’ll get much more home for your money. The downside, of course, is that your commute will be longer and you may have issues from living in the mountains.
If you are over age 55 or if you aren’t planning on living there yourself – if it’s an investment property – you may want to think about buying a home in one of the seniors condo complexes. The Los Gatos Commons is nicely situated in the central or downtown Los Gatos area and as of this writing, in 2016, units can be purchased for under $700,000.
Another tactic to employ is to watch for homes that have been on the market a long time and are hovering at 10% or so above your target price point. In every real estate market, no matter how hot, there are some houses, townhouses, and condominiums which are simply over-priced. I don’t suggest targeting more than about 10% over budget because “low-ball”offers usually serve to offend sellers and backfire on buyer’s good negotiating intentions.
Looking to buy a home near Los Gatos High School? Below please find a map search displaying available residences from the MLS of houses, townhomes, and condos which are within 1 mile of LGHS, which is located at 20 High School Ct, Los Gatos, CA 95030. Properties close to this iconic landmark enjoy not just easy school access, but also everything that the downtown has to offer: restaurants, shops, the civic center and new library, and of course the many events that take place there each year. Some of these properties will be historic homes.
Want to see more listings? Please use the search fields in the sidebar to get wider results of Los Gatos homes for sale.
Last week (on April 6th) I pulled the statistics for available houses or single family homes for sale in Los Gatos and Monte Sereno (95030 and 95032, not the Los Gatos Mountains 95033). We have been experiencing a very palpable shortage of inventory. Below please find a graph to visually demonstrate where we are, and then the data in numbers so you can see each month compared to the years prior.
And next, the numbers themselves. I particularly like this way to view info as it provides a way of seeing what inventory has been like for the same month in prior years very easily and it also enables the viewer to get a sense of the normal patterns that the local real estate market tends to follow (albeit with some fluctuation). It’s easy to see that the lowest months for inventory tend to be in winter and the peak months are usually in the middle of the summer.
For our current year, this view offers a way of validating that inventory really is low. In March we had 68 houses for sale, but in March 2015 it was 70, March 2014 it was 84 and the numbers rise for each year going back until we see the largest inventory in 2009 at 260 – a very deep seller’s market here.
Is inventory low? Yes, it is – there have been very few months since January 2002 in which home buyers have had so little choice and home sellers such a good opportunity to sell.
(Please note small error on this image – the data was pulled April 6th, not April 10th, but the data should be unchanged.)
Looking at homes for sale in Los Gatos? I’ve compiled a bunch of searches of Los Gatos real estate for sale by price (see a list of homes) and by area (view sections of Los Gatos by map with house icons you can roll over with your mouse to get more details). None of these requires registration.
The first list is broken down by price point for the whole town (sorry, it’s not separated by school district, acreage, home size etc. – just price).
The second is a map view of the town’s homes on the market. Some areas are fairly large and some are just a particular (popular) subdivision, such as Surrey Farms.
If you are looking at Los Gatos homes for sale online, you’ve probably noticed that some sites require registration and some don’t, and you probably assumed that the information is equally in depth for both. They’re actually not the same, though they’re close. The more in-depth info can be provided only if someone’s registered (it’s a legal thing, believe it or not). I believe that school districts are omitted on the non-registered sites, for instance.
I don’t like to register to get information and I presume that most of my readers don’t, either. So I do have a great variety of ways you can browse homes for sale on my sites, but also do include the sign-in type which delivers info to your email box as it happens. If you want the more detailed info, you can either ask to save your search from one of the above map searches or price searches, or you can go to PopeHandy.com and register for the Private MLS Search.
Last month I listed a great home that’s in an ideal Los Gatos location– close to award-winning, highly acclaimed Los Gatos Schools: Van Meter Elementary School, Blossom Hill School, and Fisher Middle School. It’s also a quick jaunt to the wonderful shops, banks, grocery stores and restaurants at the intersection of Blossom Hill Road and Los Gatos Boulevard.
Recently, the house at 120 Magneson Terrace in Los Gatos got a new roof and a big price reduction. It is a tremendous value!
120 Magneson Terrace (off Magneson Loop and Los Gatos Blvd or Shannon Road) MLS # 814262 3 Bedrooms, 2.5 Bathrooms Living Room, Dining Room, Bonus Room (office, library, music room) Hardwood Floors Air Conditioning Brand New Roof Quiet cul-de-sac location appx 1800 SF home lot size appx 8700 SF
Yesterday the sellers lowered the price dramatically AGAIN, and it’s now a fantastic buy at $1,250,000! Hurry!
Folks who should consider this home include those wanting:
“Walk to Schools” or “Bike To Schools” or “Two minute drive to schools”
As well as those who want to be close to buslines, close enough to shops, banks, grocery stores, and restaurants that they could get there without a car.