What’s happening in the real estate market in the Belwood, Belgatos and Surmont areas of east Los Gatos? Today I did some research on the MLS for 2011 year to date in this part of 95032.

In the image below, after I completed my work I realized that one of the “actives” is actually on the San Jose side of Blossom Hill Road (the low price home at just under $500,000 – it is a short sale by the way).  The numbers tell us that in general a 4 bed, 2 bath home in average condition (that is, partially updated but not “fully remodeled”) is worth just about $1,000,000.

Belwood, Belgatos and Surmont Real Estate statistics 1-1-2011 to 11-1-2011

I find the “sum” number to be unhelpful but the minimum, maximum and average sales prices (including the cost per square foot) to be extremely useful.

Let’s stop a moment and just look at what’s closed so far in 2011 – 10 homes – about 1 home per month on average (very, very low turnover).

Status Address Price DOM Beds Baths SqFt Lot Size
sold & closed BELHAVEN DRIVE $1,199,000 59 6 3 2,448 10,000
sold & closed BELHAVEN DRIVE $1,175,000 123 4 2 2,500 10,625
sold & closed BELWOOD GATEWAY $1,050,000 29 6 3 2,448 10,530
sold & closed BELCREST DRIVE $999,000 7 4 2 2,131 10,000
sold & closed OLD ORCHARD DRIVE $975,000 10 4 2.5 2,159 11,934
sold & closed BACIGALUPI DRIVE $960,000 8 4 2 1,748 10,000
sold & closed WESTHILL DRIVE $949,950 7 4 2.5 2,076 10,998
sold & closed BELBLOSSOM WAY $900,000 7 4 2 2,259 10,000
sold & closed BELCREST DRIVE $899,000 17 4 2 1,960 10,769
sold & closed BELBLOSSOM WAY $875,000 25 4 2 1,748 9,877
Average $998,195 29.2 4.4 2.3 2147.7 10,473.3

Next – how long does it take to sell these Los Gatos homes?

Days to Sell on Average Months of Inventory in Belwood, Belgatos and Surmont neighborhoodsActive to Pending Sold Ratio for Belwood, Belgatos and Surmont areas

As you can see, often there are far more homes available (or listed for sale on the MLS) than are selling.  This is typical for all of Silicon Valley but of course to differing ratios. It’s a red hot seller’s market when homes are selling as fast as they’re listed. In most markets, though, some percentage of homes never does sell – it’s a bit like the “bell curve” applied to home selling. Some sell fast and for top dollar, some sell in a month or two, and some either sell only after a prolonged marketing time or not at all.

With extremely low inventory and low turnover, it’s almost a crap shoot as to how fast a home in these east Los Gatos areas will sell. If there’s no other competition and the property is (1) fully remodeled and (2) priced aggressively, it will sell fast. If not, it’s anyone’s guess – but definitely worse if more homes are for sale.

Want to sell your Surmont, Belgatos or Belwood home? Please contact me – I live here too and will do my best to get you the best price for your property!

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