Los Gatos real estate market trends and statistics

Low inventory is the main story in Los Gatos 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. (As of today, inventory has ticked up to 59, which is still quite low.)

 

Los Gatos 95030 and 95032 Inventory of SFH 2020-07-08

 

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.

During the shutdown so far, the Multiple Listing Service (MLS) stopped the timer on all Days on Market (DOM). Therefore these numbers will be off beginning from March 17th through around May 17th. In the data below, this will affect any numbers related to the days on market from the previous month, but the June numbers should be accurate.

What is selling best in LG right now?

Of the 30 single family home sales in Los Gatos in June on the MLS, none sold under $1 million, 6 closed under $2 million, 17 were between $2 and $3 million, 3 between $3 and $4 million, 3 between $4 and $6 million, and 1 over $6 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 Jun 2020 Previous Month Year-over-Year
Median Price $2,562,500 (+28.1%) $2,000,000 $2,600,000 (-1.4%)
Average Price $3,006,550 (+34.7%) $2,232,100 $2,745,390 (+9.5%)
No. of Sales 36 (+38.5%) 26 31 (+16.1%)
Pending 51 (+37.8%) 37 41 (+24.4%)
Active 57 (-1.7%) 58 90 (-36.7%)
Sale vs. List Price 98.8% (-1.2%) 100.0% 101.4% (-2.5%)
Days on Market 26 (+0.1%) 26 24 (+10.2%)
Days of Inventory 46 (-31.4%) 67 84 (-45.5%)

 

Prices saw a drop since March, but June numbers show prices are on the rise again and not far from where they were a year ago. The number of sales and active listings are up again from last month, and inventory is finally above last year’s numbers after an impacted spring market. The sales vs list price ratio is decent at 98.8%, but is lower than last month and last year. So the market still has signs of recent cooling, but appears to be warming back up again. Overall it remains a seller’s market in Los Gatos, possibly showing some delayed spring activity.

Read moreLos Gatos real estate market trends and statistics

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!

Read moreRestaurants with patio dining in Los Gatos

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.

 

 

 

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

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.

Read moreGlenridge & Bachman Park neighborhood

Fairview Plaza neighborhood and historic district

Fairview Plaza - Los Gatos, California - Silicon ValleyOriginally posted December 07, 2006, updated Aug 2014 and Mar 2020.

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 to get a feel for the area, then continue reading for more info on the neighborhood.

Being an older part of town, Fairview Plaza is an official historic district for the town. It gets some special attention for this, but also some restrictions so that the character of the neighborhood is not harmed by bad remodeling or additions.

A prized part of Fairview Plaza is not actually visible from the street. Tucked behind the other homes is the Clara Huntington Perkins house, which was designed by Julia Morgan in about 1918-1919.

Fairview Plaza pedestrian path shortcut to downtown Los GatosTo get to Fairview Plaza, you have two choices. You can make use of a walkway / staircase that rises from Bayview and makes a direct connection to the neighborhood, or you can arrive there via Pennsylvania Avenue, Fairview Avenue, and then Fairview Plaza. The street is really an enormous cul-de-sac, with no “through traffic.” But unlike the cul-de-sacs of suburbia, this one is an entire community unto itself. Make a visit up there and rest a bit in the community park. You will enjoy pretty architecture but also a glimpse back in time. Enjoy!

(And if you liked this video, please see http://www.YouTube.com/popehandy for more videos of Los Gatos neighborhoods.)

View homes for sale in the Fairview Plaza neighborhood

Below, browse available real estate listings in the Fairview Plaza neighborhood, the Glenridge neighborhood and the Almond Grove neighborhood – lovely residential areas with historic homes!

Fairview Plaza

Glenridge

Almond Grove

The historic Broadway area neighborhood in Los Gatos

Los Gatos, CA Broadway District Historic Home

Broadway and El Sereno The very first subdivision or planned neighborhood in Los Gatos was along Broadway and nearby (Clifton Avenue, Broadway Extension and Wood Road), now the Historic Broadway Area (or Neighborhood or District).  There had already been quite a few houses built at that time in Los Gatos, but none were planned areas per se. The Town of Los Gatos has called this the first residential street of Los Gatos! John Lyndon was the developer and he bought the land and created 48 parcels which were sold in September 1881 – a good six years before the far larger Almond Grove district was created and 6 years before the town was incorporated, too. A few homes in this area may already have been present, though, and seem to predate the 1881 date.

No doubt, Mr. Lyndon’s real estate buying decision was at least partially influenced by the location of his Lyndon Hotel, a whose bar was a popular hangout for the likes of John Steinbeck and Charlie Chaplain, which was located at the corner of Santa Cruz Avenue and Broadway, and now is the Lyndon Plaza (since sadly the hotel was torn down in the 1960s).

What was once a fairly quiet end of town is today mostly in the heart of it. The area closest to the post office enjoys a wide road (if desperately in need of repair), a good variety of Victorian and mostly older, historic homes, and is very uniformly well kept. Because it is either “in town” or “close to town”, the road is lined with cars most days – perhaps also because these houses of course pre-dated garages.

Historic Broadway Area Photos

 

Where is the Broadway Historic District in Los Gatos?

The Town of Los Gatos has a Historic Districts Map – have a look:

Town of Los Gatos Historic Districts Map

 

Broadway neighborhood of Los Gatos real estate information

Read moreThe historic Broadway area neighborhood in Los Gatos