Back on the market 7 months after it last sold, at $98,000 more

Seven months, $98,000, and a new listing sign

The last buyer of 22163 Miller Ridge Road held the property for 6.9 months. That is the fact that opens everything else here. The home recorded as sold on February 19, 2026 at $1,400,000. On August 19, 2026, it came back active at $1,498,000 — $98,000, or 7 percent, above the prior sale price, before a single negotiation.

The record

Where it sits in the market

Among 250 sales recorded in Los Gatos over the last 180 days, the market median price is $2,394,500 and the median price per square foot is $1,169. At $1,498,000, the Miller Ridge Road ask lands at roughly 63 percent of that median — placing it in the 23rd percentile, with 248 of the 323 sales recorded above it.

At $678 per square foot, the ask runs 42 percent below the market median of $1,169 per foot. That gap is wide enough to be the story on its own.

The home's 2,210 square feet puts it in the 1,768–2,652 square foot band, where 116 sales have recorded at a median of $2,700,000 and a median of $1,248 per square foot. Against that size-band median, Miller Ridge Road's ask is 45 percent below on price and 46 percent below on a per-foot basis. The discount is consistent across both measures, which usually points to a location or condition difference rather than a pricing anomaly.

Year-over-year comparison is not available; the prior-year window returned zero sales.

Recent comparable sales

All six comps recorded via MLS status change. The table shows a market that bifurcates sharply: 23914 Summit Rd — the closest recent comp in price — sits at $750 per foot on a 45,738-square-foot lot, while in-town parcels on small lots trade at $938 to $1,797 per foot. Miller Ridge Road's $678-per-foot ask tracks with the large-lot, outer-area tier.

Is this an outlier or the top of a trend

This is an outlier — not in the sense that quick relists are rare in Los Gatos, but in that the price level sits so far below the size-band median. The $98,000 markup over the February sale is a 7 percent move; the broader market's comparable sales range from $750 to $1,797 per foot within the same size band. Miller Ridge Road at $678 per foot is not riding a trend — it is priced into a specific tier that has only one recent analog in the comp set.

What this means depending on where you sit

Buyer: The ask is $98,000 above a transaction that cleared six months ago. That spread is the starting point for due diligence, not a reason to walk. At $678 per foot, the list price is well below both the market median and the size-band median — but the comp set shows that discount is consistent with how this address tier trades, not a signal of a bargain relative to in-town inventory.

Current owner: Seven months of hold time and a 7 percent markup is a clean arithmetic story. Whether the market agrees with the ask is a separate question; the 23rd-percentile position means most of the 250 recent Los Gatos sales recorded above this price point, and the nearest price comp — Summit Road at $1,530,000 — cleared on a lot more than twenty times larger.

Still deciding: The interesting tension here is between two true things: the ask is low relative to the size band, and it is 7 percent above what someone paid six months ago. Those facts do not cancel each other out. They describe a property priced for a specific buyer — one who has already worked out why Miller Ridge Road trades where it does.

Tim McMullen · Tim McMullen, Broker · CA DRE #02016832
[email protected] · (415) 691-9272