This afternoon I ran the recent listings and sales in the Belwood of Los Gatos, Belgatos, Surmont and nearby areas. These contiguous east Los Gatos neighborhoods have extremely low turnover, so not surprisingly, there are few sales!!
It should be noted that larger homes on larger lots usually sell for far less on a price per square foot basis – so it’s not really fair to compare a house on an acre with one sitting on a 10,000 sf lot. Additionally, homes in the $2 million plus range are a very different creature than those closer to $1 million in terms of multiple offers and the sale price to list price ratio. In some cases, though, even these higher end homes get multiple offers and sell for more than the asking price.
Finally, the type in the image below is a little small, but if you click on it, you will get a larger, more readable version.