This week the median list price for Los Gatos, CA is $2,395,000 with the market action index hovering around 43. This is less than last month’s market action index of 45. Inventory has held steady at or around 113.
Market Action Index
The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.
Slight Seller’s Advantage
The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
If you would like a full market analysis for your home or to understand the trends in your buying search, please contact the Myrick Estates Team today!