Los Gatos real estate market trends and statistics

Low inventory is the main story in the Los Gatos real estate market today. Here’s a multiple year view of single family homes for sale in Los Gatos 95030 and 95032 since January 2014 – I find this to be enlightening since any one year can be an anomaly. What we see in the chart below tells us that average August inventory is in the range of high 60s to high 70s, but in 2020 inventory a good deal shy of that at only 55 listings! Going back, not since March was 2020 inventory in-line with the usual monthly inventory.

 

InventoryLG-August2020

 

The ultra low number of listings is due to many factors, one of them being the current coronavirus pandemic and health & safety concerns. For a look at of how Covid-19 is affecting the local real estate market today, please check Coronavirus Impact on Real Estate Sales on my other blog.

What is selling best in LG right now?

Of the 36 single family home sales in Los Gatos in August on the MLS, none sold under $1 million, 10 closed under $2 million (only one went below $1.5 million), 17 were between $2 and $3 million, 3 between $3 and $4 million, 5 between $4 and $5 million, and 1 over $5 million. The high end price point tends to be at around $3,000,000 and up for this part of Santa Clara County. The vast majority of what sold would not be considered luxury properties, even though in most areas of the U.S. these would be luxury price tags.

Los Gatos real estate statistics at a glance for 95030 & 95032

Next, data from the RE Report for Los Gatos (“in town”), in the Los Gatos Mountains, and for Los Gatos condos (only in town, none in the mountain communities). Below that are the live Altos Research charts, updated automatically each week. Altos uses list prices, not sold prices.

The numbers below analyze data gathered during the first week of each month and cover real estate statistics from the month prior in Los Gatos 95030 & 95032 (all areas / school districts), or MLS “area 16”. See the full RE Report here.

 

Trends At a Glance Aug 2020 Previous Month Year-over-Year
Median Price $2,500,000 (+0.1%) $2,497,500 $2,045,500 (+22.2%)
Average Price $3,006,510 (+7.9%) $2,786,610 $2,412,510 (+24.6%)
No. of Sales 41 (-24.1%) 54 26 (+57.7%)
Pending 42 (-6.7%) 45 27 (+55.6%)
Active 55 (-5.2%) 58 79 (-30.4%)
Sale vs. List Price 101.1% (+0.7%) 100.5% 98.7% (+2.5%)
Days on Market 30 (-11.5%) 34 35 (-12.7%)
Days of Inventory 40 (+24.9%) 32 91 (-55.9%)

 

Prices rose again with August numbers well above where they were a year ago. The number of sales and pending sales have also exceeded last year, though they’ve dropped since July, though active listings are below 2019. The sales vs list price ratio is strong at 101.1%, higher than last month and last year. Overall it remains a seller’s market in Los Gatos, possibly showing some delayed spring activity.

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Fiesta de Artes in Los Gatos

It’s no surprise after 4 months of sheltering in place due to coronavirus, but the 2020 season of Fiesta de Artes is off. It had been planned for Sept 19-20.

Stay home and stay safe – we’ll see you again in 2020!

https://losgatosfiesta.com/

 

Info from last year is below…

 

Los Gatos Fiesta de Artes

 

Saturday September 21st and Sunday September 22nd mark the return of the Fiesta de Artes Los Gatos, Art & Wine Festival, the only Art & Wine Festival in town all year!  It will be located at the Civic Center lawn, and the hours are 10 am to 6 pm both days. (This year it was moved from August to September – hopefully there will be far less “beach traffic” with this timing, which seems like a great idea to me.)

What happens at the Fiesta de Artes?

Think food & drink, art & shopping, dancing & socializing! Once again, there will be more than 150 vendors with a huge variety of artists and vendors displaying and selling their artwork, plus booths with food and wine and of course loads of music throughout both days. Please check out the musical lineup here: Fiesta de Artes music lineup

Where is the Fiesta de Artes held?

Fiesta de Artes will be at the Civic Center lawn across the street from Los Gatos High School.

For more information, please visit https://LosGatosFiesta.com/

Restaurants with patio dining in Los Gatos

The Wine Cellar restaurant in Old Town, Los Gatos

In Los Gatos, it may be possible to dine out of doors year round, but it is always a particularly popular option between March and October in the scenic town once referred to as “the gem city of the foothills.” And this year, it might be your only option for a while!

I originally wrote this post back in April of 2019, but barely a year later and it’s more relevant than ever. Restaurants who have had their doors closed since mid-March are finally opening – to the outdoors. Today I want to highlight these establishments for diners and give a nod to a number of the Los Gatos restaurants which offer dining al fresco; we are lucky to have so many choices!

Changes are happening quickly, so this is not a 100% comprehensive directory of Los Gatos eateries that are open with patio dining. Many restaurants not formerly offering patio dining have begun to offer outdoor seating to accommodate guests during the pandemic. Similarly, some establishments that regularly offer patio seating have decided not to offer it at this time. The charts below are mostly thanks to the excellent list provided by the Los Gatos Chamber of Commerce, in addition to a few Google searches, to update my previous list of restaurants.

Some of the restaurants that were on my 2019 list include Forbes Mill Steakhouse and Lexington House. These are all still open offering either pickup, delivery, or both at this time, and they may open for patio dining in the future. Unfortunately, a few restaurants have shuttered their doors for good. Both I Gatti and Chicago Steak & Fish are permanently closed.

Accommodations vary from permanent to temporary outdoor dining and space may be limited. I am not able to confirm all of the locations on these lists, and many have not updated their information online. Last Sunday I drove through Downtown and saw everything from spacious concrete patios dining with colorful shade installations to folding chairs under pop-up canopies. The Chamber of Commerce announced on their Facebook page that the k-rails and parklets are temporary installations to provide outdoor seating and will be replaced with more appealing planter barricades soon.

Remember that California currently requires face masks in all public places, and establishments may have their own rules for diners, so check ahead of time and come prepared.

Finally, I should mention that these restaurants with outdoor seating offer varied selection and pricing, from super casual (Happy Hound, Classic Burgers and Los Gatos Meats are all low key) to much more costly and formal. (And if you want a unique experience, one is at the local nudist resort – Lupin Lodge!) Not every one of these businesses is in downtown Los Gatos either. Links are provided where available so you can check them out yourself.

Did I miss one that should be mentioned? Feel free to email me any updates!

Bon appetit!

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Ending the Alberto Way Condo Confusion

Map Condo and Townhome communities along Alberto Way in Los GatosOne of the more confusing areas in Los Gatos may the Alberto Way. There are a number of HOA communities and for those new to the area, they may all blur together.

Los Gatos Commons

The largest complex along Alberto Way in Los Gatos is the The Los Gatos Commons, a senior complex with 110 units. (To read more about senior housing in the area, please see my post on it here.)

As with most senior housing, the units at The Commons are more affordable than the majority of  Los Gatos condos. The Commons was built in 1978 and requires that at least one resident be 55 years of age or more. As of 2020, you may be able to purchase a a unit there between $500,000 and $700,000.

Pueblo de Los Gatos

A smaller condo community just a little closer to Los Gatos-Saratoga Road, and on the opposite side of Alberto Way, is Pueblo de Los Gatos.  These homes are a little further away from Highway 17, are a little quieter, and are not senior housing.  They tend to sell for a little more than the homes across the way. There seems to be about a 5% to 10%  difference in price, most of which may be attributable to freeway noise, but part of it to the “senior community” status. This property was developed in 1970, so is actually a little older than the Commons.

Pueblo de Los Gatos consists of 53 units. Of these 53 condo units, 1 of them is a 3 bedroom (unit # 1, which also has a large 2 car garage), 44 are 2 bedroom units, and 8 are 1 bedroom units.  Except for unit # 1, the rest of the homes in this community have carports.  For many home buyers, these properties offer a more affordable way to get into the Los Gatos Union School District than might otherwise be possible.

Bella Vista Village

Next to and behind Pueblo de Los Gatos is the much newer and more expensive Bella Vista Village, which was built in 1997 and 1998 and includes 47 townhomes. Click on the link to see some photos and learn about it!

Las Casitas

Additionally, there is a small townhouse complex built in 1979 with 18 units on the same side of the street as the Los Gatos Commons, Las Casitas. Something unusual is that all of them appear to have the same floor plan – all have 1448 square feet.

 

What is the fastest way to tell them apart? The easiest way, without even clicking on a link, is to spot the address.  If there’s a letter as part of the unit number (as in A100 or B202), it’s part of The Commons. Also, if the price looks low for the area – it’s probably the Commons. If there’s no letter, as in #7, it’s part of one of the other communities. Or just check the map – The Commons is tucked back at the far left side of the cul de sac (beyond it are office buildings with a private driveway).

All of these are in close-to-downtown Los Gatos locations. If you’re in the market for Los Gatos real estate and would like to live close in, this is a great street to check out.

 

 

All Alberto Way area homes for sale, pending, or sold over the last year – including The Commons

This includes properties on Alberto Way as well as Maggi Court and the other Bella Vista Village homes.

 

  • List View
  • Map View
  • Grid View

See all Alberto Way.
(all data current as of 9/29/2020)

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

 
 

 

 

Los Gatos Free Music Concert Series: Music in the Park, Jazz on the Plazz and Vasona Vibrations Schedule of Events and Performers

Update on the 2020 Summer Music in Los Gatos

Normally in April and May I’m collecting all the information on the summer musical events in Los Gatos. This year, however, we are in the midst of a Shelter in Place order due to the Covid-19 pandemic. Sadly, it looks like none of the concerts will not be allowed anytime soon.

A few days ago, the Vasona Vibrations Facebook page released this statement:

Due to the Shelter-in-Place restrictions to reduce the spread of the coronavirus, our Vasona Vibrations concerts are cancelled this summer. These are uncertain times, and we don’t know if large gatherings will continue to be banned, even as some restrictions may be lifted. Vasona Vibrations concerts require months of planning for a successful series and we strive to offer you a high-quality musical experience. We hope you’ll understand and we’ll post any future plans. We will miss it as much as all of you.

Vasona Vibrations canceled for 2020

Today Governor Gavin Newsom laid out his four stage plan for reopening California.  Only in Stage 4 will concerts, conferences, and very large gatherings of people be permitted. And that won’t be until there’s herd immunity, an effective vaccine, and / or treatments that make this virus less of a threat.

In the coming days we will get more questions answered. The one at the top of my mind is when can I see the relatives with whom I’m not living?

You can read more about the governor’s plan at the Mercury News article linked here.

 

 

 

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Ohlone Court

Ohlone Court, Los GatosLooking for a neighborhood with attractive, younger homes that’s still close to everything in Los Gatos? The properties along Ohlone Court fit the bill as the community sits along the Los Gatos Creek Trail, across from Vasona and Oak Meadow Parks, and is equally near to downtown Los Gatos on one side and the main shopping district on Los Gatos Boulevard on the other.

Built in 1996 by Summerhill Homes, a very well respected local builder, the residences on Ohlone Court are relatively young by Los Gatos standards, and feature many elements prized in newer construction, such as open floor plans. It’s a pretty area where the neighbors all seem to care about maintaining their homes and yards nicely,  and it enjoys the highly regarded Los Gatos Schools, too.

How’s the terrain? The road climbs from Roberts Road, where it is near the Los Gatos Creek, up a knoll. The top is of course sunny and some homes enjoy fantastic views. Some homes are nearer to the creek and toward the bottom of the hill, where it’s shadier. There’s an easy to miss staircase that allows pedestrians to take a shortcut to access Blossom Hill Road and the parks from the top of the court.

This is not a big subdivision. The 25 properties are mostly single family homes, but there are also a couple of duplexes. And the surprise element is that they are condominiums. That is, although most are houses, they are held in condominium ownership (local Realtors will recognize the same situation from the Villas of Almaden, though that community has the houses show up in the MLS under condos, whereas Ohlone Court appears under single family homes). Learn more on what the different type of ownership means here: What Is the Difference Between CID Ownership in a Condo, Townhouse or PUD?

Ohlone Court Los Gatos drive through

Awhile back, I did a “drive through” of the area.  My daughter was at the wheel so I could try to capture a sense of the neighborhood for my viewers.  Hope you find it helpful.

 

 

Every neighborhood has good and not-so-good features.  What’s the catch here?  It sounds too good to be true! One issue for some buyers is the close proximity of highway 17.  Not all homes are impacted, and only a few back up directly to the freeway, but it is noticeable. This is especially true when you’re high up as there’s nothing much to block the noise. One other issue is that some of the homes are in very shady locations at the bottom of the hill.  This may bother some people who want sunnier homes. Homes on the side of a hill or at the bottom of a hill sometimes have hill related water issues. These are not insurmountable problems but it’s very important to have good drainage, proper grading, and possibly other elements such as sump pumps to keep the water out from the crawl space.

 

 

 

Ohlone Court plat map
Above: Ohlone Court plat map.

 

Ohlone Court real estate

Below please find homes that are either for sale, pending, or sold within the last 24 months along Ohlone Court. Inventory in Los Gatos is limited most of the time, so the odds are that you’ll be looking at sold properties, which at least provide a reference point on housing costs in this pretty area of town.

 

Glenridge & Bachman Park neighborhood

The Glenridge neighborhood of Los Gatos s 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.

Bachman Park is set in this area too 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.

Where is the Glenridge area? What are the prices for Glenridge real estate?

This charming older Los Gatos neighborhood is set just up the hill from the Almond Grove Historic District and adjacent to Fairview Plaza.

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