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The Los Gatos real estate market varies by zip code, school district, neighborhood and price point.
The schools are a huge factor in sales prices and overall desireability, even if the buyers want to have their kids attend private schools. So let's consider that imact too. The 95030 zip code is entirely in the Los Gatos School District, but the 95032 zip code is partly "in the schools" and partly in the Campbell Union High School District. The 95033 zip code reflects the Los Gatos Mountain areas (such as Redwood Estates, Chemeketa Park, etc.), which are not actually part of the town but have a Los Gatos mailing address. The schools in the mountains are quite good and they feed into Los Gatos High School.
I. Overview: Today we'll first have a broad overview of the major real estate indicators across 95030, 95032, and 95033, then focus in on pricing by zip code in particular.
1.) Here's a snapshot of how the Los Gatos real estate market is faring by zip code and major indicators. First, let's look at the median list price of single family homes in these zip codes:
The median list price is clearly declining across all zip codes.
2.) And here's the inventory situation by zip code in Los Gatos, which as you can see hit a peak a month or two ago but has been declining recently:
3.) Finally, here is a view of the days on market in the same three parts of Los Gatos:
II. Pricing Information by zip code and quartile.
1.) The days on market are rising across all zip codes and the ratio appears fairly similar from one to the next.
2.) Next, the same data for 95032:
3.) And lastly the same information for the mountain areas of 95033:
Generally speaking
-the inventory is not as high as a few months ago and appears to be enjoying a downward trend.
-days on the market are climbing overall
-median list price has been falling - in some areas and price points, it's not terribly dire, but in others the situation is more extreme.
Overall, the market continues to deteriorate for sellers and improve for buyers. Any particular home may or may not fit neatly into the patterns shared above, so please contact me for more information on your home or your dream home!
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