As of today, January 5, 2023, the Los Gatos real estate market in 95030 & 95032 is cooling down further – more inventory, fewer sales, longer days to sell. It’s almost a tale of two markets with some homes priced low and selling fast, sometimes with multiple offers and overbids, and other homes languishing on the market for many months.
Los Gatos real estate market statistics
Here is some Los Gatos real estate market data that I pulled directly from the MLS today.
The image below displays the average days on market (DOM) and the sale price to list price ratio. You can see that in recent months the time it takes to sell a home has gotten much larger, while the sale price to list price ratio has sunk. This is a good way to show how much the market has changed since Spring.
In April we had the peak of overbids, stretching to about 119% of list price. At that point the average days on market was a white hot 7.
In the months following, it’s apparent that a shift is underway generally. We see some fluctuation in both of these data points, but the overall trend is to slower sales and closed sales closer to list price or less. Some of this is seasonally normal. The market is usually at its coolest in December-January. But most of the time it’s not so big of a shift as what we see here.
The Belwood, Belgatos, and Surmont neighborhood in east Los Gatos is a tidy community at the base of the hills and close to beautiful Belgatos Park. It includes 4 subdivisions which all share access to the Belwood of Los Gatos cabana. They include:
- Surmont, the oldest section of the neighborhood, with semi custom homes (“Class D” optional cabana membership)
- Belgatos, which was built next and is on the west side of Belgatos Road (“Class D” optional cabana membership)
- Belwood of Los Gatos, a large tract neighborhood with the cabana at its heart (mandatory cabana membership, many homes now extensively remodeled or rebuilt)
- A small subdivision with 14 homes built between 1977 and 1979 that wasn’t given a name, unfortunately: Tract 5921 (10 homes) and Lots A – D. (“Class D” optional cabana membership)
Where is the Belwoood, Belgatos, and Surmont neighborhood?
The community is located on the south side of Blossom Hill Road, generally between Westhill Drive and Harwood Road.
Nearby public landmarks are Belgatos Park and the Walgreen’s shopping center (corner of Blossom Hill and Harwood), with a Mountain Mike’s Pizza and a newly added cake shop.
There’s a fair amount of confusion about what is or isn’t in this neighborhood or who can use or join the pool. Adding to the location confusion, The Los Gatos Monte Sereno Police cert map identifies the whole region plus the Strathmore neighborhood, which is across Blossom Hill Road, as “Belwood” generally.
What are the schools for this neighborhood?
The public schools for this area are Noddin Elementary, Union Middle, and Leigh High School.
What’s the neighborhood like?
The terrain is nearly level, with very low, gentle hills over most of the area. For those looking for an arduous climb on foot or bike, though, Harwood Road provides a nice challenge. At the top, you’ll see a fantastic view of downtown San Jose and Silicon Valley for your trouble. There are some challenges to be found in the open space trails, too.
With winding, mostly tree-lined roads and tidy houses as a rule (there are only a very few exceptions). It is a very attractive neighborhood overall.
Some streets have sidewalks, but many do not. There are not a lot of street lamps, which makes for wonderful night sky viewing.
Park and trails
At the middle of this community is the very inviting Belgatos Park, a scenic, setting which includes a playground near the parking lot, picnic areas, restrooms, trails into the hills (with some wonderful valley views), and access to the Heinz Open Space Preserve and its network of trails also. (And it’s not far to the Santa Rosa Open Space area either.)
One hill attracts kids who enjoy sliding down it on bits of cardboard, and thus has been nicknamed “cardboard hill” for decades. Most of the time these cardboard sledding enthusiasts are pretty good about picking up their “sledding vehicles” when done.
The paths are popular with people on foot, but also those on mountain bikes or horseback. As there are a few larger properties which are zoned for horses in the area, this is a very nice equestrian option. There are 2 nearby places for horse boarding, too.
For photographers, the park has abundant worthy subjects year round, both of the open space and the valley views below. In the early morning hours, or near sunset, you may see some deer too. But be careful: bobcats and mountain lions are in these hills also.
What are homes like in this part of town?
Fairview Plaza feels like a step back in time – and in many ways, it is. This little neighborhood is so quaint and unique that it seems perfect for a movie set. Located close to downtown and equally close to huge expanses of open space, it enjoys its own park, has an interesting history and is enough off the beaten path that it goes largely undisturbed.
In 1880, Frank McCullough came to Los Gatos and bought 166 acres of prime real estate. From that land, in 1915 he donated a parcel to become a park, now Fairview Plaza Park. At one time it included playground equipment and a bird sanctuary too. Today it’s a little more congested with cars on the street, but it’s still quite pleasant. This little park is the heart of the neighborhood.
Have a look at the video that Clair and I did in 2014 to get a feel for the area, then continue reading for more info on this corner of Los Gatos.
(And if you liked this video, please see http://www.YouTube.com/popehandy for more videos of Los Gatos neighborhoods.)
The Glenridge and Bachman Park neighborhood of Los Gatos is one of the most scenic residential areas anywhere in Silicon Valley. It features beautiful, custom, mostly historic homes on meandering streets.
Set just above the Almond Grove neighborhood on a gentle hill it, too, is close to town but with a little more altitude and better vistas. The other nearby neighbor is the Fairview Plaza. So much history in such a close area!
These are really two separate neighborhoods or districts, but they are similar in many ways and are directly adjacent to each other, so we are covering them together.
Bachman Park is set in in the middle of this area and includes several acres alongside a creek. The park offers picnic tables, a playground, basketball courts and a large grassy field for picnics or play. A paved path follows the creek on one side of it – making a wonderful place just for strolling. (Bachman Park refers to both the park and its immediate neighborhood.)
Where is the Glenridge and Bachman Park neighborhood?
This charming older Los Gatos neighborhood is set just up the hill from the Almond Grove Historic District and adjacent to Fairview Plaza. (more…)
If you drive through the Edelen, Almond Grove, Fairview Plaza, Glenridge and other older and historic Los Gatos neighborhoods, you may have wondered how far back in time these architecturally interesting properties go. What are the oldest residences in town, or close by?
Los Gatos Historic Homes
Are there Adobes?
In the Santa Clara Valley, there are a handful of old adobe homes here and there, such as the Peralta Adobe in downtown San Jose (built in 1797), and the Santa Clara Women’s Club Adobe (built in 1790), and many more. I can’t say for certain if there are any remaining 18th-19th century adobe homes in Los Gatos. If they exist the most probable properties are around the Los Gatos Saratoga border, are private, occupied homes, and have extensive additions and modifications.
Victorian Era: Gold Rush to Gem of the Foothills
When discussing historic homes in the Bay Area, the Victorian undoubtedly comes to mind. And Los Gatos has plenty! A search of county real estate records for Los Gatos homes (in town, 95030 & 95032 plus the mountains, 95033) spanning the era from 1837-1901 revealed hundreds of properties identified as Victorian construction. It displayed about about 375 in 95030, 120 in 95032, and also about 140 in 95033. (more…)