by Mary Pope-Handy | Nov 8, 2020 | Homes & Housing Market, Los Gatos Real Estate
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.
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).
(more…)
by Mary Pope-Handy | Jul 24, 2016 | Los Gatos Real Estate
The Los Gatos real estate market is really a collection of smaller markets rather than one market that behaves uniformly across home sizes, zip code, price point, school district, proximity to downtown, walk-ability, and much more. An entry level condo will be a different “market” than a $5 million estate. But so do will a perfectly preserved Victorian in one of the historic districts be a different “market” than a ranch style tract home in a tract neighborhood. Today we’ll discuss the major drivers of value and pricing in the Los Gatos real estate market – or markets. (To learn how the market is doing, please use the links at the bottom of this article.)
Why Los Gatos zip codes really aren’t ideal for understanding the local market
Many of the large, national websites use zip codes as a way of keeping a pulse on the housing market. Zip codes in our fair town are kind of wonky, though, and often not the best way to track changes in inventory, absorption, sales price to list price, or other data points.
- 95030 is mostly Los Gatos and Los Gatos schools, but part has Campbell schools.
- 95030 is also the main zip code for Monte Sereno, and most of that has Los Gatos schools, but not all! Some are in the area served by Campbell schools.
- 95032 is mostly Los Gatos with either Campbell Elementary (west side of town) or Union Elementary (east side of LG), but some is in the Los Gatos Union School District
- 95032 has a sliver of Monte Sereno and 100% of it (maybe 150 homes) is within the Campbell Elementary area.
If you are using something like Altos Research, though, just remember that only most of 95030 is “in the schools” and most of 95032 isn’t. If your house is in 95032 but has Los Gatos Union School District, pay better attention to the 95030 info.
Want more info on the LG zips? See https://liveinlosgatosblog.com/los-gatos-zip-code-maps/
Major housing price drivers are the schools and proximity to downtown Los Gatos
Folks living in any of the downtown Los Gatos areas, or close in Monte Sereno neighborhoods, enjoy a double bonus of both the highly prized Los Gatos Union School District and also being close to downtown, often with very charming historic districts as part of the package. These areas are often the most expensive, if comparing homes of similar size, age, lot size, remodeling, etc., as compared to properties further north or even more, at the far eastern or western ends of town.
Measuring Los Gatos home prices by school district
I ran the numbers for the school district, using a hypothetical 1750 SF – 2250 SF house on a lot of 7000-9000 square feet in Los Gatos 95030 and 95032. So think of it as a 2000 SF home on an 8000 SF lot.
In the last 120 days (as of July 27 2016), 11 such houses have sold throughout these 2 zip codes in Los Gatos and the average price per square foot was $802. (The number would likely be higher in Monte Sereno.)
Of the 11, five have been in the area served by the Los Gatos Union School District, and the average price per SF in that area was substantially more at $933 per SF.
The remaining 6 are in the areas of the far west or far east of town, within the areas for Campbell Elementary or Union School District. Average price per SF for this area is $752. (All but one are in the Leigh area, so cannot break it down further.)
Measuring Los Gatos real estate costs by proximity to downtown
Harder is defining “close to town”, but again we’ll try, using similar criteria as much as possible (more…)
by Mary Pope-Handy | Aug 31, 2015 | Homes & Housing Market
What’s selling right now in Los Gatos? The Los Gatos real estate market tends to have warmer and cooler pockets. (Please also see The Real Estate Market Trends in Los Gatos .) At the moment, almost anything listed for saleunder $2 million in Los Gatos 95030 and 95032, as long as it’s appropriately priced, staged, and marketed, is selling in under a month – and about half of those that sell do so in about 10 days. The Los Gatos luxury home market is not quite so on fire, though. As the price rises, so does the “days on market”.
Here’s a quick view of the 95030 median list price by quartile (4 pricing tiers). All levels have had some movement, but it’s most dramatic in the highest priced homes.
Next, let’s check out Los Gatos 95032, also for the median list price of houses for sale – same situation here with the most irregular movements happening in the top part of the pricing segments.
What about the days on market? (more…)
by Mary Pope-Handy | Aug 5, 2010 | Homes & Housing Market
August 05, 2010
The Los Gatos real estate market cooled a bit in July after having a little improvement in the market in June. Sales fell 19.5% from the month before (up 13.8% year-over-year).
Prices slipped in July 2010 with the median sales price for Los Gatos houses dipping 1.6% from the previous month (up 7.0% compared to last year). The average price fell 1.2% in July, a yearly gain of 1.5%. The low point of the market appears to have been in 2009, so anyone waiting for the best prices in Los Gatos may have missed that point already.
Inventory fell 2.3% from last month, and was down 5% year-over-year.
Here are the numbers at a glance for houses in Los Gatos:
| Trends At a Glance |
Jul 2010 |
Previous Month |
Year-over Year |
| Median Price |
$1,230,000 |
$1,250,000 (-1.6%) |
$1,150,000 (+7.0%) |
| Average Price |
$1,332,280 |
$1,348,340 (-1.2%) |
$1,312,410 (+1.5%) |
| No. of Sales |
33 |
41 (-19.5%) |
29 (+13.8%) |
| Pending Properties |
53 |
62 (-14.5%) |
36 (+47.2%) |
| Active |
157 |
153 (+2.6%) |
185 (-15.1%) |
| Sale vs. List Price |
98.8% |
96.8% (+2.1%) |
96.1% (+2.8%) |
| Days on Market |
36 |
47 (-21.8%) |
62 (-41.7%) |
For the Los Gatos condo market, it’s been rougher.
- Sales fell 9.1% from the month before, and were up 25.0% year-over-year.
- Prices slipped in Jul 2010 with the median price dipping 9.1% from the previous month, up 12.4% compared to last year. The average price fell 1.8%, a yearly gain of 15.1%.
- Inventory fell 8.3% from last month, and was down 16.7% year-over-year
And the numbers at a glance for condos:
| Trends At a Glance |
Jul 2010 |
Previous Month |
Year-over Year |
| Median Price |
$582,000 |
$640,000 (-9.1%) |
$518,000 (+12.4%) |
| Average Price |
$615,345 |
$626,625 (-1.8%) |
$534,806 (+15.1%) |
| No. of Sales |
10 |
11 (-9.1%) |
8 (+25.0%) |
Pending Properties
|
5 |
8 (-37.5%) |
13 (-61.5%) |
| Active |
50 |
52 (-3.8%) |
53 (-5.7%) |
| Sale vs. List Price |
96.0% |
97.3% (-1.3%) |
99.2% (-3.2%) |
| Days on Market |
80 |
109 (-26.6%) |
86 (-6.5%) |
Here are some countywide facts on the real estate market:
- The number of sales fell 6.6% from the month before, and were down 22.7% year-over-year.
- Prices slipped in Jul 2010 with the median price dipping 1.1% from the previous month, up 9.5% compared to last year. The average price rose 2.4%, a yearly gain of 13.8%. (Condo prices slipped more, in the 2-4% range.) 2009 appears to have been the bottom of the market.
- Inventory rose 0.9% from last month, and was down 13.5% year-over-year.
- The list price to sales price ratio slipped slightly but is close to 100% – so we are seeing lower list prices as well as lower sales prices.
Please visit my comprehensive on-line report for Santa Clara County, which includes market data by city and area within the county (for instance, the market for houses or condos in Cambrian, Willow Glen, Almaden, Monte Sereno, Saratoga etc.).
You can read the full report here: http://popehandy.rereport.com , you may have to cut and paste this address into your browser address bar, or, you can just Click here.
There is also a 4 page printable version with more articles here: http://rereport.com/scc/print/Mary.PopeHandySCC.pdf , you may have to cut and paste this address into your browser address bar, or, you can just Click here.
As always, please contact me for information specific to your home & neighborhood.
by Mary Pope-Handy | Jul 6, 2010 | Homes & Housing Market
July 06, 2010
In general, the Santa Clara County real estate market cooled a bit in June with rising inventory and less demand by home buyers, but in Los Gatos it improved very slightly, while in Monte Sereno it worsened. Below please find a summary from my Real Estate Report (which you can check out for more information on these areas as well as Saratoga, Almaden Valley, Cambrian Park, Campbell, etc.( Links for each section will take you to the referenced part of the REReport. You may also read a downloadable, 4 page pdf with more articles about the local realty market here.
The Los Gatos (95030 & 95032) Real Estate Market for June 2010 for Houses & Duet Homes
| Trends At a Glance |
Jun 2010 |
Previous Month |
Year-over Year |
| Median Price |
$1,250,000 |
$1,231,150 (+1.5%) |
$1,078,750 (+15.9%) |
| Average Price |
$1,348,340 |
$1,416,700 (-4.8%) |
$1,078,250 (+25.0%) |
| No. of Sales |
41 |
29 (+41.4%) |
28 (+46.4%) |
| Pending Properties |
62 |
61 (+1.6%) |
42 (+47.6%) |
| Active |
153 |
158 (-3.2%) |
181 (-15.5%) |
| Sale vs. List Price |
96.8% |
97.5% (-0.7%) |
95.8% (+1.0%) |
| Days on Market |
47 |
46 (+1.8%) |
69 (-32.2%) |
The Los Gatos median sales price inched up both year over year and month over month. (So more expensive homes are starting to sell.) The average sales price of these houses improved significantly year over year (25%) but fell almost 5% month over month. Closed and pending sales are both up and inventory is down 15% from a year ago and about 3% from last month. The list price to sales price ratio fell a little and the days on market stayed close to the same from a month ago. All in all, it is close to a balanced market for houses in Los Gatos according to the Real Estate Report.
Want more info? I also have a weekly report from Altos Research (uses list prices, not sales prices). Altos breaks it down by zip code and the files below are pdfs:
Los Gatos 95030 Single Family Home (houses & duets) Market for the week of July 3 2010
(pdf, will open new window)
Los Gatos 95032 Single Family Home (houses & duets) Market for the week of July 3 2010
(pdf file, will open in a new window)
The Los Gatos (95030 & 95032) Real Estate Market for June 2010 for Condominiums and Townhouses
| Trends At a Glance |
Jun 2010 |
Previous Month |
Year-over Year |
| Median Price |
$640,000 |
$555,000 (+15.3%) |
$635,000 (+0.8%) |
| Average Price |
$626,625 |
$546,612 (+14.6%) |
$615,000 (+1.9%) |
| No. of Sales |
11 |
8 (+37.5%) |
7 (+57.1%) |
| Pending Properties |
8 |
15 (-46.7%) |
11 (-27.3%) |
| Active |
52 |
43 (+20.9%) |
57 (-8.8%) |
| Sale vs. List Price |
97.3% |
98.0% (-0.8%) |
95.4% (+2.0%) |
| Days on Market |
109 |
154 (-29.0%) |
112 (-2.8%) |
The Los Gatos condo & townhome market also improved in June. Although it is still a buyer’s market, it is creeping its way toward balanced with improving sales prices (both median and average), more closed sales and shrinking days on the market.
If you’d like a little more info on the Los Gatos Condominium & Townhouse Market, please also see these reports from Altos Research, which breaks down the info by zip code (and uses list prices):
Los Gatos 95030 Condo Market for the week of July 3, 2010 (pdf, will open in a new window)
Los Gatos 95032 Condo Market for the week of July 3, 2010&nb
sp;(pdf, will open in a new
window)
The Monte Sereno (95030) Real Estate Market for June 2010
Monte Sereno has no townhomes or condos, so our market report is reflective only of houses (and estates).
| Trends At a Glance |
Jun 2010 |
Previous Month |
Year-over Year |
| Median Price |
$2,387,500 |
$1,632,500 (+46.2%) |
$1,510,000 (+58.1%) |
| Average Price |
$2,387,500 |
$1,677,500 (+42.3%) |
$1,510,000 (+58.1%) |
| No. of Sales |
2 |
6 (-66.7%) |
1 (+100.0%) |
| Pending Properties |
7 |
5 (+40.0%) |
6 (+16.7%) |
| Active |
39 |
34 (+14.7%) |
30 (+30.0%) |
| Sale vs. List Price |
100.7% |
99.3% (+1.5%) |
98.8% (+2.0%) |
| Days on Market |
46 |
71 (-35.5%) |
8 (+475.0%) |
Sales prices are rising and the number of sales have increased while days on market have decreased. But with 39 houses for sale in Monte Sereno and just 2 closed in June, that’s a lot more inventory than demand and reflects 19.5 months of inventory. The rising number of pendings indicates that things are improving, and hopefully will help to counteract the also rising number of homes on the market. Buyers: this is a good time, generally, to purchase a home in Monte Sereno!
The Los Gatos Mountains (95033) Real Estate Market for June 2010
This area includes both portions in Santa Clara County & Santa Cruz County.
| Trends At a Glance |
Jun 2010 |
Previous Month |
Year-over Year |
| Median Price |
$762,875 |
$802,000 (-4.9%) |
$720,000 (+6.0%) |
| Average Price |
$709,993 |
$844,146 (-15.9%) |
$823,000 (-13.7%) |
| No. of Sales |
10 |
12 (-16.7%) |
5 (+100.0%) |
| Pending Properties |
6 |
13 (-53.8%) |
7 (-14.3%) |
| Active |
52 |
43 (+20.9%) |
35 (+48.6%) |
| Sale vs. List Price |
95.3% |
95.7% (-0.4%) |
92.5% (+3.1%) |
| Days on Market |
70 |
81 (-14.6%) |
200 (-65.2%) |
To get all of the data for every city in Santa Clara County and the major districts in San Jose, please check out my current ReReport online. Additionally, you can check out listing & sales activity in your own neighborhood (see what’s happening on our MLS) by inputting any address in the county on the REReport’s Property Analysis page. (It loads a little slowly so please be patient.) There’s no registration required for any of this useful information.
Our local market consists of many micro-markets, often varying from one zip code, price point, or school district to another. Please contact me if you would like information on your specific market.
