A resource for folks living in or moving to Los Gatos, by Mary Pope-Handy

selling

Los Gatos real estate statistics and market trends

Los Gatos real estate market graphicThe Los Gatos real estate market for single family homes has been slowly cooling down a little – as a whole. Part of it is the luxury tier, which moves slower than entry or mid level priced properties. When the luxury price strata swells, it can skew the numbers to look like everything is cooling down, when that may not be the case.

Months of inventory in Los Gatos: a quick look

Just now I went to the MLS and pulled the number of active single family homes in Los Gatos 95030 and 95032 (72) and the number of sold and closed in the last 30 days (19) to check on the overall absorption rate or months of inventory. If we divide the active listings by the closed listings in the last 30 days, we get the months of inventory – so 72 / 19 = 3.79 months of inventory for the whole of MLS area 16 in Los Gatos. For our area, that is pretty close to balanced (4 months or so), but just a bit in the seller’s favor. In other parts of the US, balance is at around 6 months.

If we shift to viewing just houses and duet homes offered up to $2 million, it’s a very different view of the market. In this case, there are 17 active listings and 11 sold in the last 30 days, so just 1.55 months of inventory. This is the entry level price point for Los Gatos 95030 and 95032. It’s a little lower for the Los Gatos Mountains.

(I have a separate post on the Los Gatos months of inventory that I’ll update soon, breaking it down by price point and high school district to better pinpoint the individual markets within LG.)

 

What is selling best in LG right now?

Of the 19 closed sales in the last 30 days, 11 were under $2 million (about 58%), 5 were between $2 and $3 million, 2 between $3 and $3.6 mil, and 1 at over $6 mil.  The high end price point tends to be at around $3,000,000 and up for this part of Santa Clara County.

For the houses under $3 mil, the average days on market was 40, the average list price was $1,958,866 and the average sale price just a little more at $1,971,431. For those transactions, the average living space square footage was 2,197 sf and average lot size 11,948 SF.

 

Los Gatos Trends 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 will be live Altos Research charts, updated automatically each week. Altos uses list prices, not sold prices, fyi.

The real estate numbers below reflect realty data gathered the first week of the month for the past month in Los Gatos 95030 & 95032 (all areas / school districts), or MLS “area 16”. See the full REReport here.  Prices are up both year over year and month over month, and the sale to list price popped back up  – all positive – while days on market rise (a bit of a negative).

Trends at a Glance

Trends At a Glance Sep 2019 Previous Month Year-over-Year
Median Price $2,310,000 (+12.9%) $2,045,500 $2,000,000 (+15.5%)
Average Price $2,636,620 (+9.3%) $2,412,780 $2,417,500 (+9.1%)
No. of Sales 25 (-3.8%) 26 25 (0.0%)
Pending 36 (+12.5%) 32 42 (-14.3%)
Active 70 (-4.1%) 73 62 (+12.9%)
Sale vs. List Price 100.0% (+1.3%) 98.7% 101.0% (-1.0%)
Days on Market 48 (+39.2%) 35 25 (+96.1%)
Days of Inventory 81 (-3.6%) 84 72 (+12.9%)

 

And the month before:

Trends At a Glance Aug 2019 Previous Month Year-over-Year
Median Price $2,045,500 (-12.3%) $2,332,290 $2,230,000 (-8.3%)
Average Price $2,412,780 (-3.1%) $2,489,320 $2,699,150 (-10.6%)
No. of Sales 26 (-27.8%) 36 27 (-3.7%)
Pending 32 (+6.7%) 30 38 (-15.8%)
Active 73 (-3.9%) 76 61 (+19.7%)
Sale vs. List Price 98.7% (-1.5%) 100.2% 101.1% (-2.3%)
Days on Market 35 (+4.4%) 33 35 (-1.3%)
Days of Inventory 84 (+33.0%) 63 68 (+24.3%)

 

Trends at a Glance for the Los Gatos Mountains

The RE Report has some info on the Los Gatos Mountains, but I do not believe it covers all of what we would have as 95033 or MLS “area 23”. You can see the mountains info market here:

Just 8 closed sales in the mountains in September, so I would not trust the general numbers that much. Better would be checking sales in your particular part of the mountains, such as Upper Redwood Estates, Chemeketa Park, etc., to see what the market is doing.

Trends At a Glance Sep 2019 Previous Month Year-over-Year
Median Price $822,500 (-34.2%) $1,250,000 $1,075,780 (-23.5%)
Average Price $787,062 (-36.2%) $1,233,210 $1,547,820 (-49.2%)
No. of Sales (+14.3%) 7 10 (-20.0%)
Pending 12 (+9.1%) 11 20 (-40.0%)
Active 45 (+4.7%) 43 57 (-21.1%)
Sale vs. List Price 94.9% (-3.1%) 97.9% 99.2% (-4.4%)
Days on Market 67 (+66.3%) 40 44 (+52.1%)
Days of Inventory 163 (-11.5%) 184 165 (-1.3%)

 

And the month before:

 

Trends At a Glance Aug 2019 Previous Month Year-over-Year
Median Price $1,250,000 (+29.5%) $965,000 $997,500 (+25.3%)
Average Price $1,233,210 (+35.0%) $913,438 $955,125 (+29.1%)
No. of Sales (-12.5%) 8 10 (-30.0%)
Pending 11 (+22.2%) 9 12 (-8.3%)
Active 43 (-4.4%) 45 44 (-2.3%)
Sale vs. List Price 97.9% (+0.9%) 97.0% 106.2% (-7.8%)
Days on Market 40 (-1.8%) 41 29 (+36.5%)
Days of Inventory 184 (+9.2%) 169 132 (+39.6%)

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Selling Your Home in a Rainy El Ni

January 19, 2010

Lightning is flashing, thunder is rumbling, the rain is coming down and instead of hibernating, you are trying to sell your home.  With a front yard saturated and soupy, what can you do to make your home inviting and pleasing to the serious home buyers who brave this kind of soggy winter weather?

Winter home selling poses some challenges, and all of them are exaggerated in a year like this El Ni

Simple Rules for Landscaping to Sell Your Home

March 01, 2008

We all like easy answers, preferably with a short list. That’s why titles like “Five Easy Ways to Make Millions” seem to sell so well. With that in mind, let me provide a few very simple rules of thumb for staging your Silicon Valley home to sell in any real estate market. But let me warn you: I’m going to be painfully, brutally blunt. 

The first rule for “staging your home to sell” is the topic of today’s post and it involves landscaping and curb appeal. The front of the house needs to look great. Seriously. If the front doesn’t look wonderful (or at least really good), the buyer will never go inside to see how great your home is.  Especially now, when the majority of homes are not selling.

Here’s Mary Pope-Handy’s “Simple Rules for Landscaping to Sell Your Home”:

  • Street view of a Los Gatos home that features a wall of juniper in front. Get rid of juniper. I’m not kidding. And ivy too, while you are at it. These two plants are hated by most buyers and tend to give them the sense of “if they’ve lived with that, what else have they lived with?”  There are front yards which consist of nothing but ivy and juniper. Tear it out.
  • Make sure the door(s) and windows are fully viewable and not at all obstructed from the street. This is dual purpose. First, it allows the buyer to see the home as uncrowded from the outside, and it lets a maximum of light get inside. If your bushes are growing over any part of the window, beat it back. I mean, trim it back. Mature landscaping is good. Overgrown is bad.
  • Have a healthy lawn in front. Fresh sod is nice, but a nearly weed-free, inviting patch of green will do. (In ground sprinklers required. Timers and auto drip a plus to buyers.)
  • Plant colorful flowers near the walk way and near the front door.
  • If you have a porch, make it appealing with good furniture – but not overcrowded. Think uncluttered. If it’s a tiny porch, use tiny bistro-like furniture.
  • Keep garden hoses rolled up and tidy, keep walkways clear of debris, keep all the living things healthy (unless you’ve got moss – get rid of that living thing!).
  • Clean your windows, door, porch, exterior. A power washer is a good friend – it’ll help you clear cobwebs. Make sure the door opens easily and the hardware is clean.
  • How’s your mailbox? If it’s tired, replace it. Ditto that for the front mat.
  • When selling, make sure to keep your garage door closed (and that it operates properly). If the driveway, walkway or sidewalk is badly cracked or damaged, consider repairing or replacing it. This is particularly true if there is any tripping hazard. (Imagine a buyer getting hurt while viewing your property – you want to eliminate this possibility.)

That’s it for the exterior. Not too painful, was it? (Well, not if you didn’t start with a heavy load of juniper and ivy.) If you can make your front yard approachable and welcoming (no walls of ivy, no overgrowth), it will do wonders at beckoning people to see the inside of your home too.

Mary Pope-Handy's Valley of Heart's Delight logo

Mary Pope-Handy

Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805

Selling homes in
Silicon Valley, with
special focus on
Los Gatos 

and nearby areas,
including
Monte Sereno,
Saratoga,
Campbell,
and the San Jose areas of
Cambrian and Almaden Valley

Helping Nice Folks to
Buy & Sell Homes
in Silicon Valley
since 1993

 

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Santa Clara County Real Estate,
especially the West Valley areas
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Silicon Valley relocation info

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Los Gatos real estate
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Gateway to Mary's other sites, info on Mary Pope-Handy's listings

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Statistics and trends for Santa Clara County, San Mateo County, and Santa Cruz County - updated monthly



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