Real Estate Breakdown

The Los Gatos homes for sale is very closely related to the trends of the greater Bay Area. Most indicators seem to suggest that the Bay Area real estate market is slowing, after a period of rapid growth towards the end of 2009. According to a February 19, 2010 article in the San Francisco Chronicle, “The Bay Area housing market lost some of its 2009 momentum in January, according to an authoritative real estate report, but prognosticators do not necessarily see a shift towards slower sales in 2010.” The piece, written by Robert Selna, continued to say that “Data analyzed by MDA DataQuick, a San Diego research firm, show that 4,853 new and resold houses and condominiums closed escrow in the nine-county Bay Area last month. That represented a decline of 38 percent from December and a 4 percent drop from January 2009.”

A February 18, 2010 article in the Contra Costa Times noted that there is mixed news facing the greater Bay Area real estate market as well as Los Gatos homes for sale. This piece found that “Bay Area home prices rose in January for the fourth-straight month on a year-to-year basis while the number of home sales dropped below what they were a year ago for the first time in 17 months. But whether the sales slowdown stems from a lower number of homes for sale due to banks holding onto foreclosed properties or cooling buyer interest is unclear.” The article, written by Eve Mitchell, continued to say that “From December to January, home sales dropped 38 percent. While home sales typically fall off between those two months, the average decline has been 28 percent, according to DataQuick records that go back to 1988.”

A February 19, 2010 article in the Mercury News presented a more positive outlook for Los Gatos real estate, finding that “…most experts interviewed said the recovery that started last year is likely to continue later this year, citing an increase in home prices in the same report and a shift to a more sustainable mix of homes on the market, with fewer foreclosures.”