Los Gatos Community downtown

December 2022

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 are up 9.6% during the first nine months of 2022 after 21% jumped in 2021. A dramatic increase after three relatively flat years. The annual increase in the median price for Los Gatos homes has averaged 5.7% per year since 2002.

Market demand is at all-time highs. Note that homes selling within the first week or two on market are selling for up to 20% over list (see scatter chart below).

The supply of New Listings (blue line) are consistent with recent years. The number of Sales (red line) is also relatively steady. This chart is updated annually after year-end.

Los Gatos homes start at $1.0M. The chart shows the distribution of home prices for homes sold in 2020. 

$/SQFT varies widely. 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 in Q2.

This Monthly Median Price show two spikes in 2022 which are driving up the annual and quarterly averages. 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 is at all-time lows, suggesting market demand is at all-time highs.

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

Home selling within 10 days are typically selling for up to 15% 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.

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.