Los Gatos Real Estate Market Update - June 2024

Los Gatos, known for its charming downtown and excellent schools, continues to be a sought-after destination for families and professionals alike. As of May 2024, the real estate market in Los Gatos shows a significant level of activity with 84 active listings for single-family homes and 13 active listings for townhouses and condos. Homes are selling quickly, with single-family homes averaging 25 days on the market and townhouses/condos averaging 20 days. This quick turnover underscores the high demand for properties in this picturesque town, where the blend of suburban tranquility and vibrant community life attracts many buyers. The rapid sales pace indicates a competitive environment, with buyers eager to secure homes in this desirable location.

The months of inventory in Los Gatos stands at 2 months for single-family homes and 0.8 months for townhouses and condos, which, while indicative of a seller’s market, also suggests a slight easing in inventory compared to neighboring areas. These levels of inventory provide a moderate balance, offering buyers more choices while still maintaining a competitive edge for sellers. The price per square foot in Los Gatos is $1,281 for single-family homes and $962 for townhouses and condos, highlighting the appreciation in property values driven by the area's appeal and high quality of life. The town’s scenic beauty, excellent schools, and vibrant downtown contribute to its strong real estate market, making it a prime location for both living and investment.

The median sale price in Los Gatos is $3,037,500 for single-family homes and $1,638,500 for townhouses and condos, reflecting the high-value nature of the market and the competitive bidding environment. These significant median prices underscore the affluent nature of the community and the desirability of Los Gatos as a residential destination. The continued demand from families and professionals, coupled with the town’s amenities and lifestyle offerings, ensures that the real estate market remains robust. As we progress through 2024, these trends are expected to persist, solidifying Los Gatos’ reputation as a premier residential area in Silicon Valley. The strong economic fundamentals and attractive living conditions will likely continue to drive demand and sustain high property values across all types of residential real estate.