Los Gatos condo sales are good to watch as it provides info on the most affordable segment of the local real estate market. The condo / townhome market in Los Gatos includes a broad spectrum of housing and affordability across the 95030 and 95032 zip codes and its various school districts.
Included are senior condominiums (mostly but not exclusively at the Los Gatos Commons), which are usually the lowest priced homes and which are residences with age restrictions (mostly 55+). This can skew the data a little, so remember that if it looks too good to be true, it probably is (for all the non-seniors who would love the prices at the Commons in a non seniors complex).
Also incorporated in the chart below are townhouses. A townhouse is an architectural style, not a type of ownership. A townhouse really refers to properties with no other units above or below them. They are either in condo style ownership (essentially a condominium in the shape of a townhouse) or they are planned unit developments (PUDs), which are not condos and in which the ownership includes the land under the unit. (See also: Is that Los Gatos house or townhouse actually a condo? on this blog.)
Chart of Los Gatos condo sales in 2020
Below please find data on the Los Gatos 95030 and 95032 condominium and townhome sales.
How do these condo and townhome prices compare to other nearby areas? Here’s the most recent data from my RE Report (link is to the main site, the PDF with this chart is listed in left column).
In the far northwest corner of the town of Los Gatos sits a small, picturesque community, Arroyo Rinconada (Cats Creek Corner), consisting of three streets and 41 homes: Casa Grande (Big House), Rio Visa (River View), and Sierra Linda (Beautiful Mountain Range).
What are homes like in Arroyo Rinconada?
The neighborhood features Spanish style architecture and red tiled roofs and gently curving roads with loads of nearby trees, making the area scenic and charming.
The two story townhomes were all built in 1984, with square footage at 1280 SF (2 bed, 2 bath model), 2152 SF (3 bed 3 bath model), and 2319 SF (3 bed 3 bath model). Average square footage is 2131 SF. These homes all enjoy attached 2 car garages. Lots range 1372 SF to 2427 SF, with the average land area being 2152 square feet.
The house is on Casa Grande (“Big House”). It was built in 1935 with about 2600 SF but has been expanded to 3090 SF. Sitting on top of a knoll with a 55,000 SF lot, it sold a couple of years ago for more than $2 million.
Where is Arroyo Rinconada?
Arroyo Rinconada is set next to the corner of Quito and Pollard Roads in the northeast end of the town of Los Gatos, which are the borders for Saratoga (Quito) and Campbell (Pollard).
Courtstyle and Wimbledon Place, which is also referred to as Courtside by many locals, are townhome communities located between La Rinconada Golf Course and Winchester Boulevard, just behind the Los Gatos Bay Club Courtside. (The Bay Club Courtside was originally just “Courtside”, and that seems to be the reason for the community’s nickname.) This is a convenient commute location near both highways 17 and 85, and the area is within the Los Gatos Union School District, which is a big draw.
The Courtstyle and Wimbledon Place communities are sometimes confused with each other since they are nearby neighbors with some similar features and not terribly far apart in age, but they are distinct.
The Wimbledon Place HOA put Wimbledon Place signs up at the front and back entrances of the community not too long ago with the intention of getting the neighborhood branding corrected.
Wimbledon Place, or Courtside
The Wimbledon Place townhouses were built in 1977 and often “feel” like you’re in a single family home as the rooms are a good size, the floor plans are fairly open, and living rooms frequently feature vaulted and beamed ceilings. This is an uncrowded neighborhood, with plenty of parking in driveways and other designated spaces. It’s a very tidy, well kept neighborhood and seems to be one of the best values in town.
In the past, some of the homes felt dark as there were a lot of oversized (but beautiful!) redwood trees. When I was there this week, I noticed that a number of them had been cut down. It’s sad to see them go, but at the same time, they were close to power lines and cast a lot of shade. There are still a good number of trees there, too.
One of the largest townhome communities in Los Gatos, the Los Gatos Woods community includes 232 townhouses set on private roads near Pollard Road. This is a very attractive neighborhood and includes many trees. This area is considered west Los Gatos and is close to the border with Campbell and Saratoga.
Los Gatos Woods is very convenient for those wishing to commute to Cupertino, Sunnyvale and Santa Clara as Quito Road is nearby and becomes Lawrence Expressway. This community is also extremely convenient for those working at El Camino Hospital of Los Gatos or any of the nearby medical centers; it’s probably a half mile on foot or by bike.
There’s a good sized, remodeled Safeway and a good number of other shops close by, too, along with the middle school (and the elementary isn’t much further). Most things seem to be within a mile or so.
What are the homes like at Los Gatos Woods?
Most of the Los Gatos Woods units were built between 1971 and 1973 and most seem to have been renovated since then with dual pane windows, remodeling inside, etc.. Home sizes range from 997 square feet to 2754 sqare feet, with typical homes being around 1400 – 1700 SF. The lot sizes vary, too, from about 1921 SF to 2639 SF, and the average being 1850 SF. Homes all include some sort of outside space, often both a back patio and a balcony. All have 2 car, attached garages, and many have driveways which are big enough to accommodate a car (though some are a bit short for that).
How’s the neighborhood?
This is a really beautifully maintained community.
España Oaks is a very charming, Spanish style townhome community in Los Gatos. With lovely green lawns, plenty of parking, and a pool at the heart of the complex, it is very uncrowded and inviting.
Where is España Oaks?
You’ll find this group of townhouses where Carlton Avenue and Los Gatos-Almaden Road meet in northeast Los Gatos. Although it’s very close to the border of Cambrian / San Jose, this neighborhood is part of the very highly acclaimed Los Gatos School District. The location is a breeze for shopping and commuting, too: it’s within a mile of both Hwy 17 and Hwy 85, and less than that to Trader Joes and several shops & restaurants.
What are homes like at España Oaks?
All 54 units feature a 2 story design with 3 bedrooms, 2.5 bathrooms, 1604 SF of living space and lot sizes of about 1600 SF. Each home includes a 2 car garage, a fireplace, and a balcony. These tasteful units were built beginning in 1969 and finished in 1970, but many have been remodeled extensively since then.
Other pertinent details:
There is an HOA fee; it is currently $375 per month and is used to cover the roofs, private roads and parking, and the pool and cabaña,
Some townhomes are PUDs and some are condominiums. The properties at España Oaks are condos.
Cost of purchasing in España Oaks
Most properties are listed for just under a million dollars and selling for $1,100,000 or more. In the last year from the date of this article, just 4 townhouses sold, and the average list price was about $976,000 and the average sale price was $1,074,000 (with the highest price commanding $1,150,000). For those of you who truly love data, the median sale price was $1,084,750 . The price will depend on the condition of the property and its exact location, among other things.
Townhomes for sale in Los Gatos (all school districts)
In general, the Santa Clara County real estate market cooled a bit in June with rising inventory and less demand by home buyers, but in Los Gatos it improved very slightly, while in Monte Sereno it worsened. Below please find a summary from my Real Estate Report (which you can check out for more information on these areas as well as Saratoga, Almaden Valley, Cambrian Park, Campbell, etc.( Links for each section will take you to the referenced part of the REReport. You may also read a downloadable, 4 page pdf with more articles about the local realty market here.
The Los Gatos median sales price inched up both year over year and month over month. (So more expensive homes are starting to sell.) The average sales price of these houses improved significantly year over year (25%) but fell almost 5% month over month. Closed and pending sales are both up and inventory is down 15% from a year ago and about 3% from last month. The list price to sales price ratio fell a little and the days on market stayed close to the same from a month ago. All in all, it is close to a balanced market for houses in Los Gatos according to the Real Estate Report.
Want more info? I also have a weekly report from Altos Research (uses list prices, not sales prices). Altos breaks it down by zip code and the files below are pdfs:
The Los Gatos condo & townhome market also improved in June. Although it is still a buyer’s market, it is creeping its way toward balanced with improving sales prices (both median and average), more closed sales and shrinking days on the market.
If you’d like a little more info on the Los Gatos Condominium & Townhouse Market, please also see these reports from Altos Research, which breaks down the info by zip code (and uses list prices):
Monte Sereno has no townhomes or condos, so our market report is reflective only of houses (and estates).
Trends At a Glance
No. of Sales
Sale vs. List Price
Days on Market
Sales prices are rising and the number of sales have increased while days on market have decreased. But with 39 houses for sale in Monte Sereno and just 2 closed in June, that’s a lot more inventory than demand and reflects 19.5 months of inventory. The rising number of pendings indicates that things are improving, and hopefully will help to counteract the also rising number of homes on the market. Buyers: this is a good time, generally, to purchase a home in Monte Sereno!
This area includes both portions in Santa Clara County & Santa Cruz County.
Trends At a Glance
No. of Sales
Sale vs. List Price
Days on Market
To get all of the data for every city in Santa Clara County and the major districts in San Jose, please check out my current ReReport online. Additionally, you can check out listing & sales activity in your own neighborhood (see what’s happening on our MLS) by inputting any address in the county on the REReport’s Property Analysis page. (It loads a little slowly so please be patient.) There’s no registration required for any of this useful information.
Our local market consists of many micro-markets, often varying from one zip code, price point, or school district to another. Please contact me if you would like information on your specific market.
The Los Gatos real estate market has had a difficult year in 2008. Are things improving now, levelling off, or worsening? What Los Gatos homeowners care about most is value: what’s my home worth now? Today we will look at what list prices are doing among Los Gatos proerties for sale: both single family homes (houses) and condominums and townhomes in both the 95030 and 95032 zip codes.
The data, care of Altos Research, pretty much speaks for itself. The situation varies from one area to the next and one price point to the next. For more detailed information than is presented here, please contact me directly.
I. Broad Overview of Los Gatos homes for sale
First let’s see an overview of list prices for single family homes in Los Gatos by zip code (all price quartiles combined).
Next, same type of data but for Los Gatos condominiums and townhomes for sale (both zip codes, median list price).
II. Closer look at houses for sale in Los Gatos
Next we’ll look more closely at single family homes by zip code and by price point or quartile.
Los Gatos houses in the 95030 zip code area by quartile:
Los Gatos houses in the 95032 zip code area by quartile:
III. Condominiums and Townhomes for Sale in Los Gatos
Next the list pricing for condos in 95030 by quartile
And finally, list prices of condos and townhouses for sale in the 95032 area by quartile
In summary, it looks as though condo prices have done fairly well overall. In 95030, they are up year over year across the board, and in 95032 they two top quartiles are up. The entry level condos in 95032 appear to have lost value year over year. The reason may be that buyers in these price points are purchasing single family homes outside of Los Gatos instead.
Among houses, the slippage in pricing is fairly slight in both zip codes among the three lower quartiles, but the market difficulties are much more pronounced among the most expensive homes in both of the Los Gatos areas. The Los Gatos luxury market has taken more of a beating than more midrange homes this year? Why is that? There are a number of possibilities, but the bottom line is that if you are a luxury home buyer looking in the west side of Silicon Valley, this may be a great opportunity for you!
Please call or email me if you’d like more information on Los Gatos real estate market conditions.