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The Los Gatos real estate market is soft - it remains a buyers market for most areas and price ranges. Agents and sellers will tell you that it's harder to sell a home now. Let's look at the market data, though. It can be analyzed by price point, school district, zip code, square footage, or any number of factors. Today's "mini update" will be a glance by zip code of condos and single family homes with focus on the days on market., amount of inventory and list prices of homes for sale. Data and graphs by Altos Research (to which I subscribe).
This first chart indicates the average days on market for Los Gatos in the 95030 zip code. The blank line represents the condo and townhouse listings and the orange line the single family homes. (This chart should automatically update itself thanks to a little html.) Both segments appear to be following a fairly similar trend here of lengthening days on the market after an easier spell from spring until about July. Houses here have been for sale at an average of 110 days, and townhouses and condos around 92 or so.
Now, the same data but for the 95032 zip code of Los Gatos. These two seem to be behaving quite differently from one another - the condo market is undergoing a worsening, or lengthening, of the DOM while the single family home market in Los Gatos appears to be flattening out. Houses here have been listed, on average, for 95 days, and condos even longer - just shy of 110.
In the Los Gatos Mountains, with the 95033 zip code, the market is tougher. (There are no condo listings to report.). The days on market have been climbing fairly steadily and the DOM is at around 155 - so the average home in the mountains has been on the market for 5 months!
Another key way to get a pulse on the Los Gatos real estate market is to check the inventory levels. Here we see the current inventory of listed single family homes in Los Gatos by zip code.
Next, inventory among condos and townhomes in Los Gatos (none in the mountains to report). Interestingly, available condos have declined noticeably in the 95030 area (closest to downtown Los Gatos) and appear to be starting to decline in the 95032 area. That may help bring balance back to the condo market here, which has been quite soft recently.
And lastly, a quick view of list prices in Los Gatos. This next chart represents single family homes.
Here is the same information, but for the condominium and townhouse market in Los Gatos:
These charts represent the overview of the Los Gatos real estate market. There can be a great deal of variation from one area or house to the next. The perfect, completely and recently remodeled house that is priced low may get a flurry of offers and sell way over list price. Most homes, though, don't fit that description. Most of the real estate for sale has "some updating" but needs more. In certain areas, though, buyers will overlook condition if the price is good and the home seems clean and at least well maintained.
For information on what your home may be worth, or how much home you can buy, please contact me today!
 
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