Published November 1, 2026 in Market Update

Los Gatos is splitting into three different markets

By Spencer Hsu

Real estate, - Santa Clara - Los Gatos - Cupertino - Saratoga - Milpitas

I have been watching Los Gatos for a long time. But the numbers from the three months ending August 31, 2026 stopped me. The Real Estate Data Aggregator counted homes across three Los Gatos ZIP codes, and they told three completely different stories. Same town. Same schools. Very different markets.

The split, in plain numbers

That $5.9 months of supply in 95033 is the number I keep coming back to. The Real Estate Data Aggregator shows it jumped 1.5 months from a year before. More homes sitting, more choices for buyers, more patience required from sellers.

95030: prices up sharply, but homes are taking longer

The Real Estate Data Aggregator put the median sale price in 95030 at $3,725,000 for the three months ending August 31, 2026. That is up 23.4% from the same months in 2025. Strong, yes. But the median days on market rose too, up 7 days to 34. And the share of homes that sold above list price slipped 3.9 points to 28.6%. So prices climbed, but buyers are not rushing the way they once did. Sellers here still have real leverage. They just need to price with care.

95032: the quickest of the three

This is the ZIP where homes moved fastest. The Real Estate Data Aggregator counted a median of 23 days on market in 95032 for the three months ending August 31, 2026. The sale-to-list ratio was 101.2%, meaning buyers paid over asking on average. Nearly 41% of homes sold above list price, up 7.1 points from a year before. The median sale price was $2,700,000, up 10.1%. The one honest admission: new listings fell 18.3% and pending sales dropped 24.6%, so fewer deals are in the pipeline. The pace is real, but volume is quieter.

95033: more supply, more time, more patience needed

This is the mountain-area ZIP, and it reads differently. The Real Estate Data Aggregator shows a median of 59 days on market for the three months ending August 31, 2026. That is 14 days longer than a year ago. Homes for sale rose 26%, and months of supply climbed to 5.9. The sale-to-list ratio was 97.1%, so most sellers gave a little ground on price. Only 12.1% of homes sold above list. The median sale price was $1,500,000, up 11.1%, so values are still growing. But sellers here need to be realistic about timing and pricing from day one.

What the wider market is doing

This is not just a Los Gatos story. CNBC reported that San Francisco Bay Area rents rose 13.1% year over year as of late October 2026. That kind of rent pressure pushes more people toward buying, which keeps demand alive even as rates rise. Realtor.com reported that mortgage rates topped 7% in September 2026, the first time since January 2025. Higher rates slow some buyers down. The Federal Housing Finance Agency reported that U.S. house prices rose 2.4% from August 2025 to August 2026. Locally, the Real Estate Data Aggregator shows prices moving much faster than that national figure in most of this area.

Why this split matters for your plan

If you are selling in 95030 or 95032, you are in a market where buyers are still competing. Price well, and you can sell at or above list. If you are selling in 95033, you have more company on the market. Buyers there have options. Pricing from day one matters more than anywhere else in Los Gatos right now.

If you are buying, 95033 gives you the most time to think. 95032 moves the fastest. 95030 is in the middle on speed but at the top on price.