The Monte Sereno real estate market

Monte Sereno Stained Glass Click HereThe 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.

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, 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 May chart shows only 1 home sold, so take all of the averages and medians for this month’s data with that lone sale in mind. Even for Monte Sereno that’s nothing! Still, the number of pending sales have increased and active inventory is tiny but looking up.

Compare this to April’s data and it looks like the May sale moved as quickly, with not as high of an overbid, and was more than $1M above the previous month’s average price point. In April, the MLS showed that half of that month’s closed listings sold between $3.7 – $4 million and the other half ranged between $4.5 – $5.3 million, so May’s sale was above all April sales. In this luxury price point is common to see a lower sale to list price ratio than towards the middle of the market, so take that percentage with a grain of salt.

Inventory has been extremely low with high demand, and Monte Sereno remains in a strong seller’s market.

 

Trends At a Glance May 2022 Previous Month Year-over-Year
Median Price $5,525,000 (+31.2%) $4,212,500 $3,850,000 (+43.5%)
Average Price $5,525,000 (+28.0%) $4,316,600 $4,101,500 (+34.7%)
No. of Sales (-83.3%) 6 10 (-90.0%)
Pending (+80.0%) 5 (+200.0%)
Active (+14.3%) 7 11 (-27.3%)
Sale vs. List Price 101.4% (-13.1%) 116.6% 108.3% (-6.4%)
Days on Market (-12.5%) 8 29 (-75.8%)
Days of Inventory 240 (+609.4%) 34 33 (+627.3%)

 

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 – $4.5 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 $3 million in Monte Sereno. It can happen, although it’s rare, and the home will certainly be priced that way for a reason. January’s closed prices were exceptionally high, while March and April show that prices have consistently risen significantly over the last two years.

Since there was just 1 sale in May and April had a better data pool we will leave the April data up in the charts below until we have more relevant closed sale information in July.

 

Average Sale Price Monthly from January 2016 – April 2022:

 

Monte Sereno Average Sales Price 2016 - April 2022

 

 

Inventory of Monte Sereno homes for sale – year over year from 2016 to April 2022:

 

Monte Sereno Number of Active Listings Price 2016 - April 2022

 

Sale price to list price ratio – April 2022 was not too far from April 2021, but has been consistently rising over the last few years:

 

Monte Sereno Sale to List Price Ratio 2016 - April 2022

 

 

 

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

 

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See all Monte Sereno, CA Homes for Sale & Recently Sold.
(all data current as of 7/3/2022)

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

 
 

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