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Prices are up for Los Gatos real estate sales! (Click on link for full data from my Los Gatos Real Estate Report.)
Below please find the statistics and numbers for house sales in the town of Los Gatos (95030 and 95032) which closed in the month of February. Month over month, movement in the market is not too surprising. But year over year - wow - we are seeing a VERY big jump! The median sales price was up 14% year over year and the average up 90% year over year. This despite the rise in inventory - but days on market are shrinking. Although prices are up, the list price to sales price ratio fell - so overall, it's a cooler market.
| Trends At a Glance |
Feb 2012 |
Previous Month |
Year-over Year |
| Median Price |
$1,442,500 |
$1,129,500 (+27.7%) |
$1,265,000 (+14.0%) |
| Average Price |
$2,320,030 |
$1,248,000 (+85.9%) |
$1,217,470 (+90.6%) |
| No. of Sales |
16 |
16 (0.0%) |
15 (+6.7%) |
| Pending Properties |
45 |
30 (+50.0%) |
48 (-6.3%) |
| Active |
74 |
63 (+17.5%) |
57 (+29.8%) |
| Sale vs. List Price |
94.8% |
96.6% (-1.9%) |
98.1% (-3.4%) |
| Days on Market |
70 |
82 (-14.2%) |
92 (-23.0%) |
Los Gatos condominium & townhouse sales (click on link for more info)
Also some mixed numbers, but overall, a tremendous improvement in both pricing and number of sales. A very welcome change for condo owners wanting to sell!
| Trends At a Glance |
Feb 2012 |
Previous Month |
Year-over Year |
| Median Price |
$601,000 |
$338,000 (+77.8%) |
$480,000 (+25.2%) |
| Average Price |
$562,675 |
$358,800 (+56.8%) |
$490,350 (+14.7%) |
| No. of Sales |
8 |
5 (+60.0%) |
5 (+60.0%) |
| Pending Properties |
22 |
14 (+57.1%) |
16 (+37.5%) |
| Active |
16 |
24 (-33.3%) |
31 (-48.4%) |
| Sale vs. List Price |
96.1% |
99.0% (-2.9%) |
99.4% (-3.3%) |
| Days on Market |
63 |
101 (-38.0%) |
54 (+15.6%) |
The Los Gatos Mountains
Big improvement over last month for number of sales & list price to sales price ratio. The mountain properties usually sell much slower, and have a softer market generally, than homes in town or on the valley floor. February's sales are still low compared to a year ago, and so's the list price to sales price ratio, but we'll take any positive trends we can get.
| Trends At a Glance |
Feb 2012 |
Previous Month |
Year-over Year |
| Median Price |
$503,000 |
$675,000 (-25.5%) |
$682,500 (-26.3%) |
| Average Price |
$565,857 |
$518,333 (+9.2%) |
$756,667 (-25.2%) |
| No. of Sales |
7 |
3 (+133.3%) |
6 (+16.7%) |
| Pending Properties |
11 |
10 (+10.0%) |
14 (-21.4%) |
| Active |
24 |
25 (-4.0%) |
18 (+33.3%) |
| Sale vs. List Price |
93.8% |
88.7% (+5.7%) |
97.0% (-3.4%) |
| Days on Market |
112 |
97 (+15.5%) |
212 (-47.2%) |
Altos Live Charts for Los Gatos 95030 and 95032 plus Los Gatos Mountains 95033 and Monte Sereno Real Estate
Next please enjoy the live Altos charts, which are updated automatically each week - each segment is a little different than the others (and the reports would be more diverse still if we broke these down further, by price quartile - - sign up below if you want these delivered to you via email each week).
As you can see, pricing is stronger in 95030 than in 95032. This may be due to the schools (only a little of 95030 is in the Campbell Union High School District, but a larger portion of 95032 is). The strong Los Gatos schools are a major driver of desireability - but not the only one. Many people want to have the "walk to town" element, even if their kids are in private schools.
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