Los Gatos Mountains Home Prices, Home Sales and trends for 2012
Here's a market review for home sales in the Los Gatos Mountains - an area stretching from Soquel San Jose Road, through the Summit, Chemiquita Park and Redwood Estates, Bear Creek Road and down around the Lexington Reservoir:
104 Single Family Homes sold in the Los Gatos Mountains during 2012, at an average increase in price of 16.88%! The average sales price was $759,740; compared to an average list price of $787,838. Single family home sales increased by price & volume over 2011, when the average home sales price was $650k, based on 91 closed escrows in the Los Gatos Mountains.
On average in this area, $750,000 will get you 3-4 bedrooms and 2 baths, averaging 2400 square feet, on anywhere from a ¼ acre to about a couple of acres. Currently – there are just 24 homes for sale here. However, half a dozen of those are multi-million dollar estates that have been on the market for quite some time. For people look for an average priced home, there are about a dozen homes on the market right now. Click here if you’d like help finding your dream home in the Los Gatos Mountains!
The most expensive home sold in 2012 closed for $1,750,000. The remodeled 3000+ square foot home with a 1000+square foot guest house, on gated acreage, sold within 2 months of being listed. 4 other homes sold at prices exceeding $1.5 million last year.
In contrast, the least expensive home sold for $140,000. This bank repo was among 4 homes which sold for less than $150k.
This chart illustrates the number of new listings which came on the market, versus the number of sales during each month. Like Santa Cruz County at large, inventory has been shrinking.
Homes are selling within 3-4 months of being listed, as the chart above shows.
The discount between list and sales price remains fairly narrow at about 2-5%: 
Source: MLSListings.com – Single Family Residence closed escrows, zone 23
Click here to read more about the Los Gatos Mountains Community.
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