Los Gatos Community downtown

July 2024

Los Gatos is a wonderful community on the slopes of the Santa Cruz mountains. Great schools, a very fun downtown area and easy access to Hwy 17 makes this a very desirable place to live. Click on these links to view more information on the Los Gatos Community and Schools.

Los Gatos home prices jumped during the first four months of 2024 to all-time highs. The annual increase in the median price for Los Gatos homes has averaged 5.3% per year (CAGR) since 2002.

Market demand is relatively strong. Homes are selling quickly and final sales prices are averaging slightly over list.

The supply of New Listings (blue line) continued their 10-year decline. The number of Sales (red line) also declined to some of the lowest levels. This chart is updated annually after year-end.

Los Gatos homes are typically in the $1M to $4M price range. The chart shows the distribution of home prices by number of bedrooms. 

The scatter chart above shows the distribution of $/SQFT by the size of the home. Also gives you an idea of what to expect in home size.

The Quarterly Median Price returned to 2021 levels after a spike and dip in 2022.

This Monthly Median Price shows prices have declined to slightly below 2021, yet well above 2017-20 levels. Keep in mind that the fluctuation may be due to a change in the mix of homes selling in a particular month, not necessarily changes in home values.

The average Days on Market was at historic lows.

Final sales price vs. List Price spiked during the first half of 2022. The decline in June is to levels consistent with prior years.

Home selling within 10 days are typically selling for up to 25% over list.

The Inventory of Active Listings is significantly lower than prior years.

The monthly supply of New Listings is consistent with prior years. Note the seasonality with December typically being the low-point during the year.

The number of Sales per month is noticeably lower in 2022 and 2023.

Source: The data above is obtained directly from MLSlistings, the multiple listing service (MLS) serving Santa Clara and San Mateo counties. The information is deemed to be accurate, however is not guaranteed.