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):
- There were NO sales in December.
- All sales data for the month of November is based on just 2 closings. That can skew the data pretty quickly!
- This city is currently in a seller’s market with low inventory, just 7 available homes at the end of December.
- Closed and pending sales are also shrinking as we enter the holiday season.
- As of today, Jan 16, 2023, there are 3 available homes for sale, 2 closed sales, 2 pending sales, and 1 contingent sale in Monte Sereno.
- One of the closed sales sold at 98% of list price and the other at 97% of list price.
- The average days on market was 37. One house sold in 10 days and the other took 63 to obtain a ratified contract.
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.
Trends at a Glance from the RE Report:
December 2022 brought NO closed sales of homes in Monte Sereno.
|Trends At a Glance||Dec 2022||Previous Month||Year-over-Year|
|Median Price||$0 (-100.0%)||$3,424,000||$5,100,000 (-100.0%)|
|Average Price||$0 (-100.0%)||$3,424,000||$5,447,160 (-100.0%)|
|No. of Sales||0 (-100.0%)||2||5 (-100.0%)|
|Pending||5 (+66.7%)||3||6 (-16.7%)|
|Active||7 (-12.5%)||8||2 (+250.0%)|
|Sale vs. List Price||0.0% (-100.0%)||93.3%||103.7% (-100.0%)|
|Days on Market||0 (-100.0%)||48||10 (-100.0%)|
|Days of Inventory||0 (-100.0%)||116||12 (-100.0%)|
|Trends At a Glance||Nov 2022||Previous Month||Year-over-Year|
|Median Price||$3,424,000 (-14.9%)||$4,025,000||$4,000,000 (-14.4%)|
|Average Price||$3,424,000 (-37.7%)||$5,497,500||$4,900,330 (-30.1%)|
|No. of Sales||2 (-50.0%)||4||3 (-33.3%)|
|Pending||3 (-25.0%)||4||8 (-62.5%)|
|Active||8 (-11.1%)||9||6 (+33.3%)|
|Sale vs. List Price||93.3% (-4.3%)||97.5%||105.1% (-11.3%)|
|Days on Market||48 (+171.4%)||18||8 (+519.6%)|
|Days of Inventory||116 (+71.9%)||68||58 (+100.0%)|
MLS info pulled directly: the charts below all were pulled from MLS Listings.com
What does it cost to live in Monte Sereno? With an average sale price of roughly $3.5 – $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 close to or above $3 million. 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?
- List View
- Map View
- Grid View
See all Monte Sereno, CA Homes for Sale & Recently Sold.
(all data current as of 1/28/2023)
Listing information deemed reliable but not guaranteed. Read full disclaimer.