The median price for single-family, re-sale homes stayed over $1 million for the third month in a row. The median price has been over $1 million for eleven of the past fourteen months. The median price for April was $1,160,000, which is a new record for home prices in Los Gatos.
With its family-friendly atmosphere, fantastic schools, proximity to mountain trails, great parks, and small town feel, we know why Los Gatos is a highly desirable community.
As more would-be homeowners feel priced out of the single family home market, they are turning to condos/townhouses which reached over $700.000, a new price high for that segment of the market.
According to real time data from Altos Research, the inventory of new listings is climbing, which is good news for buyers. We combined the sales data for both Los Gatos and Monte Sereno to give you a better picture of how these two desirable markets are performing.
- Median home prices increased by 18.3% year-over-year to $2,100,000 from $1,775,000.
- The average home sales price rose by 0.0% year-over-year to $2,244,650 from $2,244,390.
- Home sales rose by 4.5% year-over-year to 23 from 22.
- Active listings fell 5.2% year-over-year to 91 from 96.
- Sales price vs. list price ratio rose by 6.1% year-over-year to 105.2% from 99.1%.
- The average days on market rose by 30.5% year-over-year to 40 from 30.
Compared To Last Month
- Median home prices slipped by 1.2% to $2,100,000 from $2,125,000.
- The average home sales price rose by 0.8% to $2,244,650 from $2,225,900.
- Home sales down by 25.8% to 23 from 31.
- Active listings increased 23.0% to 91 from 74.
- Sales price vs. list price ratio increased by 2.2% to 105.2% from 102.9%.
- The average days on market increased by 33.0% to 40 from 30.
The Myrick Estates Team specializes in homes in Los Gatos and Monte Sereno. If you would like a market analysis of your home or wish to receive listing data as it comes on the market, please contact us today!