Closer look at Sold Homes data for Los Gatos during July 2013!

We wanted to explore what sold in Los Gatos during July 2013.   The answer was only 34 properties sold in Los Gatos July for a total $33M and change.   Ironically the Average Sale Price was less than the Average List price which validates the Trulia Price monitor’s finding that the home prices declined by 0.3% in July 2013.  

Average List price of homes in Los Gatos was  $1,702,000 vs the Average Sale price of $1,682,097.   We have written monthly posts on impact of Foreclosure Activity in Los Gatos and consider this city a good place to buy some fixer uppers for rehab and flip.  

 But let’s check what happened at the top end of the market in Los Gatos for July 2013 : 

Los Gatos List Price Range : $799,999 to $5,695,000

Los Gatos Sold Price Range: $831,000 to $4,800,000 

1)Days on the market:  These  34 homes sold in Los Gtaos sold between  zero to 271 days with an average of 34 days which still is a brisk pace for selling homes.

2) List Price Per Sqft:   The price per square feet for these 34 sales were $671.

3) Average Size:  The average of home size for these sales was 2,794 square feet. 

4) Average Sale Price:  The Average Sale price of these 34 homes in Los Gatos were 1,682,097.  

Although the sample size of one month might be a small indication to draw very firm conclusion, but it’s possible to spot a trend emerging where if this trend of declining prices continue, we might conclude that the market has already peaked in Los Gatos and we are heading to much more stable market.  

Are you still in the market to buy in Los Gatos!?  Let us know if your plans have changed and how we can help you secure a nice home in Los Gatos.

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