As of today, December 8, 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.
Multi Year Statistics: Los Gatos real estate market
Here is some multiple year over year Los Gatos real estate market data that I pulled directly from the MLS today.
The bottom line is supply and demand. What is the ratio between listings and closed sales? This is an excellent visual cue to understand what’s going on right now. Early this year, there were more closed sales each month then there were active listings. Since May (and the rate hikes), the market flipped. Now there are more listings than sales. Often the listings that aren’t selling are overpriced. That’s true in every market.