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

Read moreLos Gatos real estate market trends by price point and high school district

Live Oak Manor Park & west Carlton area

There is a small pocket of Los Gatos with Los Gatos High School (Los Gatos schools) close to Ace Hardware and Live Oak Manor Park just off of Los Gatos-Almaden Road and Los Gatos Boulevard. It’s sometimes called the Live Oak Manor neighborhood. Some may call it the Carlton area, after the major street that runs through it. I have heard Realtors refer to it as “the Garcia tract” after the main builder in that neighborhood. For our purposes, I’ll call it the Live Oak Manor Park & west Carlton area to distinguish other parts of Carlton which have a different school district (Union School District) or are in the Cambrian area of San Jose.

Neighborhood map for Live Oak Manor and west Carlton area

Live Oak Manor Park & west Carlton area: location, location, location

This area is super convenient for commuters. It’s only about a half mile to the on ramp to Highway 17, and about 1 mile to Highway 85. If the freeway is backed up, it’s easy enough to get to alternate routes, such as Highway 9 or San Tomas Expressway. For those who work at Good Samaritan Hospital or one of the nearby medical offices, work is a short walk or bike ride away.

It’s not so close to downtown Los Gatos that it gets socked in with beach traffic on summer weekends. It’s easy to get to restaurants and shops along Los Gatos Boulevard, a short jaunt to the Los Gatos Creek Trail, and a quick trip to get to the JCC on Oka Road. Need groceries? Nob Hill is only a half mile away, as is the Los Gatos Cafe Uptown, Una Mas, and several other tempting destinations.

A huge plus, of course, are the highly regarded Los Gatos schools. This area is a little less expensive than nearby neighborhoods such as Blossom Manor to the south.

For many, being close to a neighborhood park is another important perk – a place to run the dogs, for kids to play, or just to get out of the house without needing a car.

Something else that should be noted is that this is a scenic pocket and most of the streets are tree lined, making it a pleasant place to be even if none of the neighborhood amenities are enjoyed.

Street view along Carlester Drive, Los Gatos, near Live Oak Manor Park

Read moreLive Oak Manor Park & west Carlton area

126 Charter Oaks Circle, Los Gatos

126 Charter Oaks Circle sunny living & dining roomsIf you’ve been house hunting for a turnkey property with highly regarded Los Gatos schools, you’ll be happy to hear about my newest listing at 126 Charter Oaks Circle.

This is a sunny, updated & remodeled 3 bed, 2.5 bath townhouse with approximately 1574 SF in the beautiful Charter Oaks townhome community!   It is offered at $1,125,000.  A turnkey property, 126 Charter Oaks Circle includes many amenities:

  • dual pane windows
  • engineered hardwood floors (less than 2 years old)
  • newly remodeled hall bath (in 2017)
  • newly remodeled master bath  (in 2017)
  • vaulted ceilings
  • air conditioning
  • recessed lights
  • ceiling fans in bedrooms
  • kitchen updated in late 2016 with quartz counters, tile back splash, and stainless appliances and sink.
  • open concept floor plan
  • private front courtyard with slate patio and double door entry
  • master suite includes a deck with greenbelt view
  • large powder room also accommodates laundry
  • washer, dryer and fridge all stay
  • 2 car garage

Easy commute location with quick access to both Highway 85 and Highway 17. Enjoy the Los Gatos Creek Trail, which is steps away, or relax at the Charter Oaks community pool.

Fantastic, highly rated Los Gatos Schools: Blossom Hill Elementary, Fisher Middle, Los Gatos High.

Open house schedule for 126 Charter Oaks Circle:

 

See more photos on the 126 Charter Oaks Circle TourFactory virtual tour.

Directions: 
From Lark Avenue, turn north onto Charter Oaks Drive, then left onto Charter Oaks Circle. You will see the Sereno Group “for sale” sign near the garage.  Please use the guest parking spaces and do not block any driveways when viewing the home.

España Oaks townhouse community

España Oaks townhome community in Los Gatos España Oaks is a very charming, Spanish style townhome community in Los Gatos. With lovely green lawns, plenty of parking, and a pool at the heart of the complex, it is very uncrowded and inviting.

Where is España Oaks?

You’ll find this group of townhouses where Carlton Avenue and Los Gatos-Almaden Road meet in northeast Los Gatos.  Although it’s very close to the border of Cambrian / San Jose, this neighborhood is part of the very highly acclaimed Los Gatos School District.   The location is a breeze for shopping and commuting, too: it’s within a mile of both Hwy 17 and Hwy 85, and less than that to Trader Joes and several shops & restaurants.

What are homes like at España Oaks?

All 54 units feature a 2 story design with 3 bedrooms, 2.5 bathrooms, 1604 SF of living space and lot sizes of about 1600 SF.  Each home includes a 2 car garage, a fireplace, and a balcony.  These tasteful units were built beginning in 1969 and finished in 1970, but many have been remodeled extensively since then.

Other pertinent details: 

  • There is an HOA fee; it is currently $375 per month and is used to cover the roofs, private roads and parking, and the pool and cabaña,
  • Some townhomes are PUDs and some are condominiums.  The properties at España Oaks are condos.

España Oaks townhomes

Cost of purchasing in España Oaks

Most properties are listed for just under a million dollars and selling for $1,100,000 or more.   In the last year from the date of this article, just 4 townhouses sold, and the average list price was about $976,000 and the average sale price was $1,074,000 (with the highest price commanding $1,150,000). For those of you who truly love data, the median sale price was $1,084,750 .  The price will depend on the condition of the property and its exact location, among other things.

Espana Oaks intersection Carlton LG Almaden and sidewalk Espana Oaks sidewalk view (Small) Drop

España Oaks TH in Los Gatos

Townhomes for sale in Los Gatos (all school districts)

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(all data current as of 12/12/2019)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

 

 

 

Bluebird Lane neighborhood

Bluebird Lane neighborhood of LGLooking for a neighborhood full of spacious, younger homes in a close-in Los Gatos location? Bluebird Lane should be on your list of areas to check out: if you’re lucky, one of the traditionally styled homes may even be for sale.

Built by Robson Homes between 2010 and 2012, the Bluebird Lane neighborhood is situated just off Los Gatos Boulevard near Los Gatos-Saratoga Road. It’s under a mile to the highly regarded Los Gatos schools, and only a tad more to get to downtown – an easy bike ride or stroll by foot.

Most of the homes are on Templeton Lane, but a few are on Caldwell Avenue or Los Gatos Boulevard.  (This is a point of confusion: why is it called Bluebird Lane when the main street is Templeton?)

What are the homes like at Bluebird?

Think two story, traditional style with Colonial, Cape Cod, Craftsman and similar architectural themes.

Caldwell and Templeton in Los Gatos - newer subdivision close to downtown

There are 19 homes in the tract. One was the original, grand estate house (more on that below).  Two are small with 1300-1400 SF and attached (“duet homes”), and these were designed to be more affordable.  The rest are detached and much larger, with 2,960 to 3,935 square feet. The 17 larger homes feature 4-5 bedrooms, up to 5.5 baths, and some include basements and finished attics. Most of the homes are on fairly small lots of between 4500 SF and about 6000 SF.  Even the main road, Templeton Lane, is narrow. This is probably the only negative: the backyards are small and the homes feel awfully close together for the size of the buildings.

Inside, the homes feature open floor plans in the living areas, spacious and well appointed kitchen, quality fixtures and touches throughout.  If you appreciate elegance, you’ll love these well designed, quality homes.

"Bluebird Lane" on Templeton Lane , Los Gatos

Of the 19 properties in this subdivsion, only one has a tenant in it.  That’s an extraordinarily high owner-occupied ratio!

Read moreBluebird Lane neighborhood

Kennedy Meadows and Kennedy Estates

Kennedy Meadows and Kennedy Estates are adjoining upscale residential neighborhoods in east Los Gatos, both along Kennedy Road and just a little further from the downtown area than the Surrey Farm subdivision. Below, please find the approximate boundaries that I mapped out.

Kennedy Meadows is a small subdivision on Kennedy Court. It consists 10 of homes built between 1995 and 1997. The average lot size is just under a half acre, and the average home size is  about 4000 SF. This is a very scenic area as the hills are nearby. Properties there sell upwards of $3 million, often $4 million (if not much, much more).

[metaslider id=4706]

Kennedy Estates sign Kennedy Estates consists about two dozen large, estate quality homes primarily along Forrester Road or just off of it on Leotar Court. Most of the houses are 2 story and were built in the 1980s or 1990s, but a few are newer or older than that. There’s a broad range of home size, from 3500 SF to over 8,000 SF, but the majority of houses are between 4,000 SF and 6,000 SF. Most lots are 1-2 acres, and most are hillside (as Forrester runs at the bottom of a little valley). Because it’s a small valley, this area can get quite toasty in summer, as few of the coastal breezes make it through. These luxury properties all enjoy central air conditioning, of course. If you want to live in Kennedy Estates, you’ll probably need to budget $4 million or more to purchase a house there.

 

 

 

Why are Kennedy Meadows and Kennedy Estates in east Los Gatos neighborhoods so popular?

First, of course, they are not far from “town” and they enjoy the highly regarded Los Gatos Union School District

Read moreKennedy Meadows and Kennedy Estates

Charter Oaks townhome community

The Charter Oaks townhome community was built in 3 phases between 1972 and 1975,  and consists of 101 units on a verdant, green campus. I’m told that the builder was the highly regarded Blackwell Homes.  Each townhome enjoys between 960 square feet and 1,760 sf, with the average being 1452. Most are 2 story but there are a few single story homes as well. Lot sizes are small (1,920-3,205 SF, average is 2477 SF) as there is a great deal of common, outdoors space to enjoy.

Charter Oaks townhome community

Charter Oaks Circle mapLos Gatans are drawn to Charter Oaks for many reasons. First, it offers well built homes that are thoughtfully designed in a beautiful setting. The community features include expansive greenbelt areas and a pool.

The location is a huge plus. It is located alongside the Los Gatos Creek Trail, making it an easy walking or bike commute to Netflix, a simple bike ride to Vasona or downtown Los Gatos, or a convenient route for a longer ride, jog, or stroll. To top it off, this area includes the highly regarded Los Gatos Schools and is close enough to the freeways to make commuting less stressful.

Every area has some location challenges. Because it’s close to two freeways, there’s a bit of noise from the highways but it’s not too bad. The other thing to know is that there’s just one road in and out, and trying to turn left from Charter Oaks Drive onto Lark Avenue can sometimes be frustrating as the cars just keep coming and there’s no traffic signal to help there.

Charter Oaks real estate pricing

Homes in Charter Oaks are selling for about $1,100,000 to $1,200,00 as of spring 2017. (See my listing at 126 Charter Oaks Circle here.) As with every complex, some areas will sell for more than others. In this case, because the townhomes are fairly close to highway 17, some areas have road noise and will be a little less desirable.  Some will have better or lesser views, access to parking, natural light, and so on. The condition and size of the unit have an enormous impact on housing values too, of course.

 

Which streets are a part of Charter Oaks?

Includes streets are these: Walnut Hill Court, Charter Oaks Circle, Willow Hill Court, Cherry Hill Court, Almond Hill Court, Spruce Hill Court

Read moreCharter Oaks townhome community