Monthly Market Report in Los Gatos, CA

October 2023

September 2023

Glossary of terms

Existing SFR Home Sales: Number of Single-Family Residence (SFR) homes sold during the month.

  • A negative % change from last year means that there were fewer homes sold compared to same time last year.
  • A positive % change from last year means that there were more homes sold compared to same time last year.

Active Listings: Number of homes available for sale during the month.

  • A negative % change from last year means that there were fewer homes available for sale compared to same time last year.
  • A positive % change from last year means that there were more homes available for sale compared to same time last year.

Existing SFR Median Price: The median price of Single-Family Residence (SFR) homes sold during the month.

  • A negative % change from last year means that homes were less expensive compared to same time last year.
  • A positive % change from last year means that homes were more expensive compared to same time last year.

Median Days on Market: The median of the number of days properties were on the market before going Pending.

  • This is a good indicator of buyer demand in a given market. Homes taking longer to sell indicates slower demand from buyers while homes selling more quickly indicates an increase in buyer demand.

Sales-to-List Price %: The final sale price at close of escrow relative to the seller’s asking price.

  • This is a measure of discounting. If the sales-to-list price ratio is below 100%, sellers are typically receiving less than their full asking price for their homes. If the sales-to-list price is above 100%, sellers are typically receiving more than their full asking price for their homes.

% of Active Listings Reduced: The percentage of homes available for sale that have reduced their asking price.

  • This is another measure of discounting. A high percentage of active listings reduced suggests that more sellers in the market lowered the asking price of their homes, while a low percentage of active listings reduced suggests that fewer sellers in the market lowered the asking price of their properties.
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