Amy McCafferty, who ranks in the top 100 realtors in the United States, has made national news with her success in real estate. Her dedication, experience and expertise in local markets have allowed her to attain an impressionable status within the real estate market. Haute Residence sat down with Amy to discuss the market trends in Los Gatos community and the push for vertical living.
What are the current real estate market trends and conditions in Las Gatos?
Los Gatos is a beautiful place to call home and the word is out! Properties in Los Gatos are sold on average within 2 to 3 weeks depending on the price range. While the overall real estate market did see a little slow down in the last half of 2018, as Leslie Appleton Young, Chief Economist for the California Association of Realtors put it, “The market went from GREAT to GOOD”!
What are the top 3 things luxury homebuyers look for?
Luxury buyers in the Los Gatos area make up a big part of our market. These buyers may be looking to move away from a big city lifestyle such as living in San Francisco or relocating because of a new position at one of our many large Silicon Valley tech companies. The majority of our luxury home buyers are looking for close proximity to restaurants and dining. Their home should have a great outdoor space and entertaining areas, as well as specialty rooms for entertainment, hobbies, and a dedicated home office. They love Los Gatos for the small town atmosphere set at the base of the Santa Cruz mountains. Our luxury home buyer is looking to have it all! They want a comfortable home with all the amenities, close proximity to good shopping and dining as well as an easy commute location.
Where do you foresee the luxury real estate market heading in the new year?
I believe 2019 will be a great year for Luxury Real Estate in the Los Gatos area. Our job market is excellent. Currently, there are many requisitions for executive positions in the Silicon Valley companies which promotes the growth in our upper-end real estate market.
Is there a push for vertical living in Las Gatos or is it still horizontal based?
It is important to the town of Los Gatos to maintain the small town feel with luxury amenities. There are some condominiums and townhomes but they only make up about 10% of the available housing and the town does limit the approval of such projects.