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How Is the Condo and Townhome Market Doing in Los Gatos?

How Is the Condo and Townhouse Market in Los Gatos Now?

 

 
Trends at a Glance

Condominiums and Townhomes in Los Gatos: General Information on Pricing & HOA Dues

The landscape for Los Gatos condos and townhouses is varied and truly runs the gamut from simple shelter close to freeway walls, high voltage power lines and train tracks to newer or fully remodeled luxury homes with gorgeous views of Lake Vasona, the coastal mountains or Silicon Valley. 

Disclaimers made, what's the spectrum of list prices?  Prices range from possibly as low as $200,000 - $250,000 to well over $1,000,000. (In recent years, some newer places at the old Villa Felice location were much, much higher than that - over $1.5 mil!)  At this writing, one townhome is being offered for just under $1.28 million.  The average list price of a condominium or townhouse is about $500,000 to $600,000 for about 1400 to 1500 square feet of living area. HOA dues average $300 to $400 per month but can be as high as $875!

Some of these condominiums and townhomes are "in the schools", meaning in the Los Gatos Union School District. Others are in Campbell Schools (Rinconada Hills, Los Gatos Woods) or Union Schools (Los Gatos Village). Schools always factor heavily in home valuations.

The issue of location makes a huge difference in pricing and marketability. Whenever there's a "walk to town" or "walk to schools" type location (whether you bike, take a car or go on foot - the idea is close proximity), it adds great value that will matter to consumers no matter what the market. Likewise, some communities are built up directly against undesireable things like freeways, grocery stores, schools, or less desireable commercial properties, and those will always be an issue, but even more so in a buyers' market like we've been seeing since late 2007.

If you are looking to purchase a townhome or condominium in Los Gatos, here are a few of the communities you might consider in the 95030 and 95032 zip codes:

Rancho de Los Gatos - Overlook Road area (close to downtown)
Rinconada Hills - off Pollard near Quito (gated)
Espana Oaks - off Los Gatos Almaden near Los Gatos Blvd
Los Gatos Village - off Los Gatos Almaden Road & Camino del Cerro
Charter Oaks - off Lark, near Los Gatos Creek Trail
Courtside - off Winchester
Courtstyle - off Winchester
Los Gatos Woods - off Pollard
Los Gatos Estates - off Pollard
Pueblo de Los Gatos - seniors community, Alberto Way area off Hwy 9 near 17
Vasona Terrace - off Winchester

There are many smaller communities as well, including some a very short distance to schools (such as along Roberts Road).
 

Please call or email me for a confidential meeting to discuss your real estate wants and needs.

 

And for more information on the Los Gatos real estate market, please visit the NEW home for the Live in Los Gatos blog:

http://www.LiveInLosGatosBlog.com

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Quick look at the Los Gatos real estate market

The Los Gatos real estate market is very healthy, with a strong sale price to list price ratio. As with the rest of Santa Clara County, inventory is extremely low, and that is pushing prices up. Today we'll get a view of the market using just a few charts, but please click on the links for more info (or call, email or reach out to me if you'd like an appointment to discuss your segment of the market in particular).Please continue reading on the new home of Live in Los Gatos

 

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Los Gatos real estate market months of inventory by price point and high school district

Sorting out the local Los Gatos real estate market can be a bit tricky, but one of the best instruments for measuring performance is the months of inventory (MOI, or absorption rate).  In this article we'll consider the MOI houses in Los Gatos 95030 and 95032 by high school district and price point, since I believe those are the two main drivers of our residential real estate market.

Los Gatos all schools by price pointPlease continue reading on the new home of Live in Los Gatos

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What does it cost to buy a home with Los Gatos schools?

Buying a home in the schools...in the Los Gatos Union School DistrictWhat does it cost to buy a home in Los Gatos "with the schools" (as opposed to the Union School District or the Campbell School District areas)? In the last 90 days, 68 houses have sold in Los Gatos within the Los Gatos Union School District.  The averages will give you some idea of pricing, but remember that the range is very broad because Los Gatos includes quite a few luxury or estate properties!  Those disclaimers aside...

Please continue reading on the new home of Live in Los Gatos

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Low flow toilets, faucets and showerheads soon to be mandatory in California

Shower headIf your house was built before 1994, soon your toilets, indoor faucets, and showerheads  will need to be “low flow”. Homes built after that date are already appropriately equipped with water saving devices. Please continue reading on the new home of Live in Los Gatos

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Los Gatos housing market: months of inventory by high school district and price point

Sorting out the local Los Gatos real estate market can be a bit tricky, as there are so many variables that can throw the analysis.  Among them we have to consider school district, price point, sometimes zip code, proximity to downtown, proximity to positive and negative issues, condition of property and more.  As one agent says, it's a patchwork quilt!

Los Gatos real estate - months of inventory by high school district

Please continue reading on the new home of Live in Los Gatos

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Appreciation in the Blossom Streets near Alta Vista School (along the Los Gatos and San Jose borders)

This last weekend I was holding open my new listing in west Los Gatos at 212 More Avenue. A few people asked me how Los Gatos is faring in terms of appreciation now as compared to the height of the market a few years ago. While places like Cupertino and Sunnyvale are already well past that previous peak, other west valley communities are sneaking up on equaling it. The Alta Vista neighborhood, on the San Jose (Cambrian Park) and Los Gatos border, is precisely there (as is most of Los Gatos under $2 million). The Alta Vista neighborhood should hit peak pricing very soon. So far this year, there's only one closed sale in this neighborhood due to very low inventory levels, but within a couple of months we should have more complete data, and I think by late summer we'll see new highs. 

Blossom Streets near Alta Vista School Appreciation 

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How's The Los Gatos Real Estate Market Doing Now?

The market is heating up in Los Gatos as of about 4 weeks ago with new sales commenced.  These will not be reflected in the closed sales until early March, so please take the 'solds' info below with a grain of salt and keep the changed market conditions in mind!

Trends At a Glance Feb 2013 Previous Month Year-over Year
Median Price $1,435,000 $1,555,000 (-7.7%) $1,442,500 (-0.5%)
Average Price $1,506,570 $1,704,850 (-11.6%) $2,320,030 (-35.1%)
No. of Sales 19 13 (+46.2%) 16 (+18.8%)
Pending Properties 36 18 (+100.0%) 48 (-25.0%)
Foreclosures Sold 0 0 (N/A) 1 (-100.0%)
Short Sales Sold 2 0 (N/A) 1 (+100.0%)
Active Listings 60 52 (+15.4%) 86 (-30.2%)
Active Foreclosures 1 0 (N/A) 2 (-50.0%)
Active Short Sales 1 0 (N/A) 10 (-90.0%)
Sales Price vs. List Price 97.4% 99.4% (-2.0%) 94.8% (+2.7%)
Days on Market 88 34 (+160.7%) 70 (+25.3%)

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Blossom Hill Manor Real Estate Market

Map of the Blossom Hill Manor neighborhood of Los Gatos (east Los Gatos)The Blossom Hill Manor (aka "the Manor" or "Blossom Manor") is a very highly sought after neighborhood with its close proximity to the highly regarded Los Gatos schools, parks, shops, grocery stores and major transit routes.  Homes there are well maintained, many streets are tree-lined and there's a good amount of community spirit and involvement in this close-in area.

Contact Mary Pope-Handy for buying or selling in Los Gatos or anywhere in the west valley!Please continue reading on the new home of Live in Los Gatos

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Critically Low Inventory of Homes for Sale in Los Gatos

Date: Feb. 13, 2013
Tags: , , , ,

Update on 2/13/13:  

As of right now, the MLS shows just 29 houses for sale in Los Gatos, 95030 and 95032

What can someone buy in town right now?  Not much.  Only one house is offered at under $1 million (a small house, 2 bed, 1 bath with under 1,000 SF).   The most expensive property is listed at a little under $13 million!

2013 =   52
2012 =   86
2011 = 130
2010 = 113
2009 = 175
2008 = 105
2007 =   91
2006 =   75
2005 =   94
2004 =   88
2003 = 126
2002 =   81

Please continue reading on the new home of Live in Los Gatos

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Live in Los Gatos

A blog about Los Gatos real estate, homes, houses, condos, townhomes, housing market, neightborhoods, history, events, businesses, parks, schools, photos, issues, and lifestyle by Mary Pope-Handy, town resident, enthusiast and Realtor.

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Mary Pope-Handy

Realtor, CRS, CIPS, ABR, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Road
Los Gatos, CA 95030
BRE # 01153805
408 204-7673

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