How’s the Saratoga California real estate market?

Orchard and Hills in Saratoga, California

Orchard and Hills in Saratoga, California

This is a fairly comprehensive article on the Saratoga real estate market that will include the live statistics from Altos Research for listed properties (not closed) in Saratoga CA 95070, the closed sale data from the RE Report for last month in Saratoga 95070, and the numbers I crunched for Saratoga – overall and by price point and high school district, since Saratoga has 3 different high school districts, each with an impact on home values.

First, let’s consider the months of inventory by price point and high school district that I crunched using, our local multiple listing service provider.

The months of inventory is a reference to how fast homes would be absorbed into the market if sales continued at the same pace and no new inventory came onto the market. It’s often referred to as “the absorption rate” – and that can be months of inventory, weeks of inventory, or days of inventory. A “balanced” market is somewhere around 4-5 months for us, though the National Association of Realtors says that 6 months is balanced nationwide. Anything under 3 is a good seller’s market, and under 1 is like saying that homes are “flying off the market.”

(For comparison, please also see a similar article on the Live in Los Gatos blog for the town of Los Gatos – real estate market by price point and high school district.)

For most of the valley, inventory is up, prices are down, days on market are up, and sale price to list price ratio is up. It’s still a seller’s market, but it’s softening. If it continues in this direction, it will become a buyer’s market – but is not there yet.

Here’s the chart for Saratoga – all price points, all school districts. Please notice that the months of inventory is about DOUBLE from four months ago. Translation: it’s twice as hard to sell now as it was in mid-April. At the same time, 3.15 months of inventory is still very decent! Also, though home prices can be quite high, the bulk of properties are under $3 million. It’s challenging to sell homes higher than that amount, overall.


2018-08-17 Saratoga MOI all areas


And from 4 months ago:

2a - Saratoga, CA, Real Estate Market Update


By comparing across school districts you can also see how different each area’s individual market can be. Saratoga with Saratoga schools is a little slower of a market. Why? Most likely because it’s a bit pricier than other areas. This area is about 50% slower than it was a few months ago. The overall MOI makes it seem like Saratoga with Saratoga Schools is a bit sluggish. That’s not really the case in most price points, but at $4 million and up, it is a buyer’s market.



2018-08-17 Saratoga LGUHSD


And from 4 months ago:


2b - Saratoga, CA, Real Estate Market Update


And now, Saratoga with Cupertino schools – the Fremont Union High School District. This is a SUPER TINY AREA, but even so, usually there’s at least a handful of houses. Because of the small numbers, the data can change very quickly and dramatically, as seen here recent charts. Cupertino schools are especially prized, so although the MOI is longer than it was in April, it’s still just 2!

2018-8-17 Saratoga MOI FUHSD


And from 4 months ago:


2c - Saratoga, CA, Real Estate Market Update


And lastly, Saratoga with Campbell Union High School District (Prospect High, Westmont High). Inventory and demand are usually in a completely different sector than the other districts – they appear almost solely in the entry level markets. Homes in this area generally sell very well unless thigh are “high end”.


2018-8-17 Saratoga MOI CUHSD


And from April:


2d - Saratoga, CA, Real Estate Market Update


Next, let’s turn to the closed sales from last month.  This time we’re using data from a subscription service of mine to the RE Report.

Here are the real estate sales statistics for closed sales last month among houses and duet homes (if there are any) in the 95070 zip code (click on link to read the full Saratoga Real Estate Report for houses). Bottom line is that most livable homes in Saratoga will run between $2 and $3 million if they are mid sized (2000-3000 SF) and in the best schools area (Saratoga or Cupertino). Homes in the Campbell schools area, which have very strong elementary and middle schools, are very rare and generally more affordable, closer to $1.5, but depending on size, condition, and location they can be significantly higher.

Trends at a Glance

Trends At a Glance Aug 2018 Previous Month Year-over-Year
Median Price $2,817,500 (+0.3%) $2,810,000 $2,575,440 (+9.4%)
Average Price $3,091,450 (+7.9%) $2,865,480 $2,701,380 (+14.4%)
No. of Sales 22 (+4.8%) 21 26 (-15.4%)
Pending 25 (+4.2%) 24 25 (0.0%)
Active 57 (-12.3%) 65 36 (+58.3%)
Sale vs. List Price 103.6% (+0.8%) 102.8% 104.3% (-0.7%)
Days on Market 31 (+24.5%) 25 20 (+52.4%)
Days of Inventory 78 (-16.3%) 93 42 (+87.1%)


And last month:


Trends At a Glance Jul 2018 Previous Month Year-over-Year
Median Price $2,810,000 (-9.5%) $3,105,000 $2,484,000 (+13.1%)
Average Price $2,865,480 (-14.3%) $3,342,460 $2,642,460 (+8.4%)
No. of Sales 21 (-25.0%) 28 30 (-30.0%)
Pending 24 (0.0%) 24 24 (0.0%)
Active 65 (+12.1%) 58 41 (+58.5%)
Sale vs. List Price 102.8% (-2.6%) 105.5% 102.8% (+0.1%)
Days on Market 25 (-5.5%) 26 36 (-31.7%)
Days of Inventory 93 (+54.6%) 60 41 (+126.5%)



Lastly, let’s see what we can glean from the Altos Research reports. These are updated weekly and use LIST PRICES, not sold prices. And of course, it’s citywide, and does not factor in school districts.

Altos Research – list prices for Saratoga CA 95070


Real Estate Market Chart by Altos Research

It’s still costing around $3 million for a “typical” Saratoga house – whatever that might look like!
Homes are selling quickly but there’s no inventory. Inventory has risen slightly, and the number of sales is going up. The sale price to list price ratio has been hovering around 105%-110% since last year. The general picture: it’s a seller’s market in Saratoga for single family homes.

Median List Prices of Saratoga Houses for Sale by price point

Next, the median list prices for single family homes with a breakdown by price quartile. (Please note that the info would be even more precise if broken down by school district, but this particular program doesn’t yet filter by schools.) Properties across the board appear to be fairly level, keeping steady, but more recently with a falling trend.  It is interesting to note that the peak pricing for the most expensive homes was in January, where the rest of the market peaked closer to March and April (which is more typical in our county, generally).

Real Estate Market Chart by Altos Research

Charts are finally turning around after prolonged, strong upward momentum is appearing in every quartile.

Saratoga condo and townhouse market:

Next, please find the basic statistics for closed sales last month among townhouses & condominiums in the 95070 zip code (see the Saratoga Real Estate Report for condos & townhomes). The numbers of sales for this segment of the realty market are always small, so it can appear more volatile than is actually the case. For instance – last month only had one active and one pending sale. This small inventory means data can quickly swing, so don’t trust the percentages in this chart too much. Still, looking back we can see it’s a strong seller’s market often with more listings selling and pending than those currently active.

Trends at a Glance

Trends At a Glance Aug 2018 Previous Month Year-over-Year
Median Price $1,170,000 (-36.8%) $1,850,000 $1,380,000 (-15.2%)
Average Price $1,317,470 (-11.0%) $1,480,000 $1,290,220 (+2.1%)
No. of Sales (+33.3%) 3 (-42.9%)
Pending (-50.0%) 2 (-80.0%)
Active (+16.7%) 6 (+250.0%)
Sale vs. List Price 99.7% (-0.9%) 100.6% 105.4% (-5.4%)
Days on Market 20 (+48.1%) 13 28 (-29.5%)
Days of Inventory 53 (-12.5%) 60 (+512.5%)


And the month before

With condos, it’s very easy to feel alarmed at the numbers, but so few condominiums or town homes sell each month that it doesn’t take much to make the numbers get wonky. So as with the houses, we have to evaluate on a case-by-case basis. Because Saratoga has a number of school districts and property types (condos and town houses), you really need to zero in on the exact area, home type and size, as well as related issues such as condition before deciding that the market is rising or falling. If you are interested in buying or selling a condo or townhouse in Saratoga, don’t go it alone or rely on online stats – give me a call and we will crunch the numbers specifically for your home and pinpoint the pricing.

Median List Prices of Saratoga Condos for Sale

And now, list price of condos by price quartiles.

Real Estate Market Chart by Altos Research

Interestingly, the condo market is heating up the most in the top segment, with the decline in the lowest tier.

Additional trend charts for both single family homes and townhouses & condominiums

Inventory of both houses & condos in Saratoga

Real Estate Market Chart by Altos Research

It’s seasonally typical to have more inventory in summer than other times of the year. Going back a few more years (see below), please note where the peaks are found – almost always sometime in summer. (Single family homes only.)

Real Estate Market Chart by Altos Research

It’s less clear, but still visible, with condominiums and townhouses in Saratoga:

Real Estate Market Chart by Altos Research

Average Days on Market for Saratoga Homes for Sale

Real Estate Market Chart by Altos Research

Houses by quartile is not much different – DOM was rising across all price points since August 2016 with a steep reversal in March. Average Days on market begin to slow slightly again in June, with properties still selling fast! The market has remained hot and looks to get worse.

Real Estate Market Chart by Altos Research

It is strangely disjointed in the Saratoga Condo market, though. I can’t explain why this had been so “all over the board” based on just this data.


Real Estate Market Chart by Altos Research

My suspicion is that the homes with the better schools are faring the best, but that’s just a hunch based on how well homes usually sell – it’s not provable with this info at hand.

If you’re interested in buying or selling a Saratoga home, please contact me. I’ll be happy to meet with you for a no obligation initial consultation.

Saratoga Real Estate Listings – Saratoga Homes for Sale – Condos, Townhouses & Houses for Sale in Saratoga

If you’d like to browse Saratoga homes for sale, I invite you to have a look here! Below please find all properties currently listed as available on our local MLS. Please be advised that there are a number of different property types and school districts listed here. For more precise information on houses, condos or town houses on the market, please contact me via email or complete a form at or on my website. Either way it will come to me and I will personally set up your search for a Saratoga property. (If you are moving to the South Bay area from far away, please also see my Silicon Valley relocation website for helpful tips.)

  1. 4 beds, 3 baths
    Home size: 2,462 sq ft
    Lot size: 13,599 sqft
  2. 5 beds, 6 baths
    Home size: 4,362 sq ft
    Lot size: 9,574 sqft
  3. 2 beds, 2 baths
    Home size: 1,218 sq ft
    Lot size: 1,176 sqft
  4. 5 beds, 5 baths
    Home size: 5,308 sq ft
    Lot size: 17,010 sqft
  5. 4 beds, 3 baths
    Home size: 2,279 sq ft
    Lot size: 10,410 sqft

See all Real estate in the city of Saratoga.
(all data current as of 9/23/2018)

Listing information deemed reliable but not guaranteed. Read full disclaimer.


Interested in buying or selling a home in Saratoga? I grew up there (and in Santa Clara), graduated from Saratoga High before heading off to college, and have been selling homes as a Saratoga Realtor – and nearby parts of Santa Clara County & Silicon Valley too –  since 1993. I understand the impact of Saratoga’s school districts on home buying decisions, the importance of various locations to market value, and resale concerns that can improve or detract from your return on investment.

Read more about my background on the Valley of Hearts Delight website (sister site to this blog) and learn why my past clients and other readers of the San Jose Mercury News named me “best real estate agent in Silicon Valley” in 2011. There you’ll also see my accomplishments/honors/awards, info on sales experience, and more.

Contact Mary Now 408 204-7673Or just take a moment to phone me at 408 204-7673, or email me at mary (at) popehandy (dot) com.








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Mary Pope-Handy
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at)
License# 01153805

Selling homes in
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2007: Mary Pope-Handy and Frances Flynn Thorsen win the Project Blogger Contest for Mary's Live in Los Gatos blog. The contest was sponsored by
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Best real estate agent in Silicon Valley from the San Jose Mercury News poll of readers in 2011
"Best real estate agent
in Silicon Valley"

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