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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

Comments (2) :: Post A Comment! :: Permanent Link :: Email This Entry

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

Posted by: ejeff
Date: Sep. 23, 2008

Hello Mary,

I am writing from San Bernardino, while studying for my ePro cert.

In your neck of the woods, how do people define the difference between a condo and a townhouse?

ejeff


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

Posted by: Mary Pope-Handy
Date: Sep. 23, 2008
Hi Jeff,

Normally we think of condos as being attached properties on multiple sides (up, down, one side and the other) and townhouses as a one or two story home with no one above or below.

Most often, a townhouse includes the land that the unit is built upon, plus a percentage of the common area. With a condo, there's usually not a lot associated with the unit.

A TH is really more of an architectural style than anything, but it does provide for more separation and more outdoors space so is usually far more desireable to own than a condo.

It is different in southern CA?

Thanks for writing,
Mary

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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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