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The Monte Sereno real estate market

The Monte Sereno real estate market

by , | May 17, 2023 | Homes & Housing Market, Los Gatos Real Estate, Monte Sereno Real Estate

Monte Sereno Stained Glass Click Here
The City of Monte Sereno is a popular community bordering Los Gatos, Saratoga, and the Santa Cruz mountains. It’s also quite small, with just about 3,500 residents, so tracking the real estate market trends for the area can be tricky.

Info at a glance (details further below):

  • This city is currently in a seller’s market with low inventory, just 6 available homes at the end of April.
  • Pending sales shrank month-over-month, but are up a hair year-over-year.
  • As of today, May 17, 2023, there are 8 available homes for sale (2 of them are “members only”), 0 closed sales so far this month, 1 pending sale, and 1 contingent sale in Monte Sereno.

The number of houses sold in any given month will always be extremely small and the data will jump around. Checking the Los Gatos market will also help, but the best pulse on the market will come from particular sales in particular neighborhoods.

Houses make up most of Monte Sereno – there are no commercial buildings, just a post office, city hall, some churches or religious grounds, and an elementary school. There are also extremely few residential properties that are not detached single family homes. We don’t track the condo or townhomes in this area as we do in other communities because there just wouldn’t be enough (if any) data for it!

First up for the market analysis is the Altos Research weekly profile for Monte Sereno (uses list prices, not sales). This is updated automatically, so feel free to check this article weekly to see what’s happening now with list prices.

 

 

 

Below is the Monte Sereno Real Estate Report (click to view the complete Real Estate Report).

Trends at a Glance from the RE Report:

 

The number of home sales is very small in Monte Sereno (6 in April and just 3 in March).

 

Trends At a Glance Apr 2023 Previous Month Year-over-Year
Median Price $2,905,000 (-22.0%) $3,726,000 $4,212,500 (-31.0%)
Average Price $3,505,000 (-6.3%) $3,738,670 $4,316,600 (-18.8%)
No. of Sales 6 (+100.0%) 3 6 (0.0%)
Pending 5 (-28.6%) 7 4 (+25.0%)
Active 6 (-14.3%) 7 8 (-25.0%)
Sale vs. List Price 99.6% (-0.5%) 100.10% 116.6% (-14.6%)
Days on Market 24 (-46.2%) 44 8 (+197.9%)
Days of Inventory 29 (-58.6%) 70 39 (-25.0%)

 

What does it cost to live in Monte Sereno? With an average sale price of roughly $3 – $4 million, you may wonder if anything sells that’s not in the stratosphere – can you buy an entry-level Silicon Valley home in Monte Sereno? The short answer is this: it’s not easy to find anything for under about $2.5 million in Monte Sereno. Even a “fixer” often goes above that. It can happen, although it’s rare, and the home will certainly be priced that way for a reason.

We also keep track of this market over at the Valley of Heart’s Delight blog, in addition to many other communities around Silicon Valley.

Other pricing consideration: what about schools?

Something else to be aware of is that most Monte Sereno houses are in the Los Gatos Union School District, but a small pocket of properties lies within the Campbell School District. Those with Campbell schools usually sell for a little less. Additionally, most of this city is within the 95030 zip code, but again, there’s a small pocket which is in the 95032 area.

Next, what kind of home is available to purchase in Monte Sereno now?

Click here to view Monte Sereno Homes for Sale

 

  • List View
  • Map View
  • Grid View

See all Monte Sereno, CA Homes for Sale & Recently Sold.
(all data current as of 6/2/2023)

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

 
 

 

 

 

 

 

 

Los Gatos real estate market trends and statistics

Los Gatos real estate market trends and statistics

by , | May 10, 2023 | Homes & Housing Market, Los Gatos Real Estate

Los Gatos real estate market graphic with home near downtownAs of today, May 10, 2023, the Los Gatos real estate market in 95030 & 95032 is showing signs of warming. Many homes are selling quickly, but some languish on the market – mostly if they started overpriced or have a location defect.

Los Gatos real estate market statistics

Here is some Los Gatos real estate market data that I pulled directly from the MLS today.

Inventory of available homes for sale in Los Gatos 95030 and Los Gatos 95032

A quick glance at the last few years suggests that this inventory is somewhere between a little low and normal.

Inventory of homes for sale in Los Gatos 95030 and 95032

 

Numbers of homes sold

Sales slipped a little while inventory rose – that’s making the LG market a little easier for buyers!

 

Number of sales for SFH in Los Gatos 95030, 95032

Months of Inventory

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Blossom Hill Manor Real Estate Market

by | Nov 18, 2019 | Homes & Housing Market

Map of the Blossom Hill Manor neighborhood of Los Gatos (east Los Gatos)

The Blossom Hill Manor (aka “the Manor” or “Blossom Manor”) is a highly sought after neighborhood with its close proximity to the well regarded Los Gatos schools, parks, shops, grocery stores and major transit routes.  Homes there are nicely maintained, many streets are tree-lined and there’s a good amount of community spirit and involvement in this close-in, walkable area. Explore the area more using my Google Map of Blossom Manor, or take a video drive-through of the neighborhood at my other post, The Blossom Manor neighborhood of Los Gatos.

In this posting, we’ll discuss the Blossom Manor real estate market. The real estate market in Los Gatos has been on fire like the rest of the Bay Area over the last few years, but there’s a great deal of variation from one area, price point, school district, age and condition of home to the next.  As you can imagine, the “fixer” market is very different from the luxury market.

So far in 2019, there have been 15 closed sales in The Manor. A few quick stats on those sales:

  • Average list price $2,150,343
  • Average sale price $2,207,518 (103% of list price)
  • Median sale price $2,060,000
  • Least expensive list price $1,589,000
  • Lease expensive sale price $1,775,000
  • Most expensive list price $2,749,000
  • Most expensive sale price $2,790,000
  • Average price per SF $1,114.61
  • Average days on market 16
  • Average living space 2046 SF
  • Average lot size 9,431 SF
  • Average age of the home 61 years

Of these 15 sales, 9 were over list price, 1 was exactly at list price (an off market sale – the only one not exposed publicly before selling), and the rest sold under list price.  (more…)

Los Gatos real estate market trends by price point and high school district

by | Oct 23, 2019 | Homes & Housing Market, Los Gatos Real Estate

There are many factors impacting the Los Gatos real estate market, including the price point and the elementary or high school district. This post is updated every month or two. Today we’ll look at the Los Gatos realty market by pricing tiers and high school district using the months of inventory as a data point. The months of inventory, or MOI, is the currently active (for sale, no contract or pending sale) homes for sale divided by the number of homes using the same criteria which have closed escrow in the last 30 days.

These numbers were run today using MLSListings.com and it’s possible that a few more homes will be recorded as closed sales or new homes added to the market after I ran these numbers. One other disclaimer: sometimes the number of closed sales is very low or is at 0. This can be for many reasons. In some cases, there are a few which are sale pending and simply haven’t closed recently. In other cases, the market might actually be empty in those tiers, indicating a possible lack of demand or inventory. That being said, what do the numbers say?

Los Gatos real estate months of inventory in 95030 and 95032 combined

The overall MOI for the town as a whole with 95030 and 95032 zip codes shows a mild seller’s market, with post-summer cooling likely in what is a typical seasonal pattern. It is a bit of a mixed market when looking at the town as a whole, but less so when viewed by high school district or price point. We’ll see when the month is over, but already in many parts of Santa Clara County, the real estate market is returning to seasonal patterns with some cool pockets and some which remain hotter.

 

 

And here’s the same chart with data from last February. You can see that in mid-winter the inventory was smaller and moving slightly slower.

 

2019-2-12 Los Gatos Months of Inventory 1 - 95030 95032

 

Looking back farther, here’s the same info for last November – the overall absorption rate isn’t much different from right now, and inventory and sales are neck-and-neck. Almost exactly a year ago, the market doesn’t look too different.

 

Los Gatos 95030 and 95032

 

And a reference from April, when the market was red hot:

 

 

The real estate market for homes with the Los Gatos – Saratoga Joint Union High School District only

Now let’s view just the homes which are in the Los Gatos – Saratoga Joint Union High School District (or homes “in the schools” as locals say).Houses for sale with Los Gatos schools tend to be more pricey than those in neighboring school districts. This isn’t just the schools, but is also a function of being closer to downtown Los Gatos. The lowest priced homes in this area are seldom listed for less than $1 million.

 

 

Once again, we’ll compare it against last February. While the overall market is moving faster today than in February, here we can see that for homes in the Los Gatos School District were moving more quickly in winter. While the number of sales hasn’t changed much, inventory has gone up in this sector.

 

2019-2-12 Los Gatos Months of Inventory 2 - LGSUHSD

 

From last November, again, not a ton different between then and now.

 

Los Gatos 95030 95032 LG Schools

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Los Gatos & Saratoga real estate sales statistics 2005 – 2014

by | Jan 17, 2015 | Los Gatos Real Estate

Today I’m able to share with you some statistics pulled together from MLSListings.com by Timothy Proschold of Sereno Group Los Altos (which he’s given those of us in Sereno permission to share). I thought my readers would really appreciate this statistical history of sales in Los Gatos and Saratoga from 2005 to 2014.

A quick, but important, note on the areas included for Los Gatos.  “Los Gatos”, as a mailing address and as an area searched on the MLS, now includes the Los Gatos Mountains (95033) as well as the “in town” or the unincorporated areas close to town with the zip codes of 95030 and 95032. (This is a recent change in the way MLSListings collects data – and it’s messing with us!)  In the study below, all three of these areas are included.  If you are looking at 95033, these figures will be a bit high, and if you’re considering 95032 or 95030, they will be low.   So while we often do compare and contrast Los Gatos and Saratoga, the gap in pricing will be more acute because of the more rural areas include.   Be that as it may, this is great info that I think you will find very valuable – and thanks again to Tim for compiling it for us!

First, the price per square foot for single family homes (SFH) in Los Gatos and Saratoga (these might shake out differently by school district, price point etc.).

Los Gatos & Saratoga Sales Stats (2005-2014)

Similar patterns overall, but Saratoga is currently making a steeper climb in housing values.

Next,  the median sale price and average days on market (DOM) from 2005 to 2014 for houses or single family homes in Los Gatos.
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