Los Gatos real estate market trends and statistics

The Los Gatos real estate market is cooling, but it is still a strong seller’s market – just not as “white hot” as it was a few months ago, and the trends are all pointing to a calmer, slower, more balanced market.

As of today, June 8, some info on single family  homes in LG 95030 & 95032:

  • 55 single family homes are on the market in “Active” status – it was 43 when I last updated this article on May 5 (of those, 1 is listed as “agent only, show”, and 7 are “agent only, do not show”). The agent only listings means that they are not syndicated to other websites.
  • 1 house is under contract but there are contingencies of some kind in place (could be loan, appraisal, property inspection, buyer to sell current home, seller to find a replacement home) – so those sales may not go through.
  • 22 houses are sale pending, no contingencies (this is a small number compared to the active listings) – it was 27 at my last update for this post
  • 26 houses have closed escrow in the last month, down from 33 in early May (fewer pendings – sales are decelerating).
  • The average sale price to list price ratio for these 26 houses was 108%, a very significant drop over last month’s 118% .

 

Here is some data that I pulled directly from the MLS:

Lack of inventory remains pronounced, but there is a shift, and finally the inventory is higher than last year. But take a look at ALL of the previous years. What is “normal”? I think 70 – 80 is pretty normal.  When it gets to be over about 100 it seems to be a slower market.

 

Los Gatos Inventory 

 

 

 

Sale Price to List Price Ratio for Los Gatos 95030 & 95032 houses

The sale price to list price ratio is a new high in April but backed way down in May. The sky isn’t falling, though. May’s ratio is still one of the highest on record.

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