Saratoga

Saratoga

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 MLSListings.com, 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.

 

Continue reading

How's The Luxury Home Market?Luxury home sales are going like crazy in the west valley areas of Santa Clara County. Right now in Almaden Valley, Los Gatos, Monte Sereno and Saratoga, there are 115 houses for sale listed at or more than two million dollars (just checked MLSListings.com), and in the last 30 days 52 have sold and closed escrow in those same areas and price ranges. For the Almaden – Saratoga region generally, then, there are 2.212 months of inventory in the over two million dollar price range (115/52). That makes it a strong seller’s market. Things have certainly stayed lively since last year. (In the same region, there are 39 pending sales.)

Next we’ll look at these four Silicon Valley communities separately to see how the luxury market in each one is faring overall.

Almaden Valley (San Jose, 95120)

Currently in Almaden there are 12 houses for sale which are listed at or over $2,000,000.  In the last 30 days, 3 sold in that price range (with 2 sales pending). That makes for 4 “months of inventory,” which can be considered a balanced market in many areas though is leaning towards being a seller’s market. That would mean this luxury market has good turnover but is not as strong a market as elsewhere. It’s a close to balanced market in Almaden Valley among the most expensive real estate offerings for sale. Five to six months is balanced and over six is a buyer’s market. Continue reading

Free E Waste event April 21 2018 in Los Gatos and other Sereno Group office locations

Please stop by a Sereno Group office listed below to take part in a FREE e-waste, e-recycling
collection event on   Sunday April 21, 2018    9:00AM- 1:00- PM.

A FREE e-waste collection event is being held in 3 area Sereno Group offices on Sunday, April 21, 2013 from 9:30am to 1:30pm:

Where to go to drop off the approved items?

 

PALO ALTO
Corner of Emerson and Lytton Avenue

LOS ALTOS  * SHREDDING AVAILABLE AT THIS LOCATION *
369 S. San Antonio Road (Sereno Office Parking Lot)

LOS GATOS * SHREDDING AVAILABLE AT THIS LOCATION *
214 Los Gatos – Saratoga Road (Sereno Office Parking Lot)

WILLOW GLEN
1425 Lincoln Avenue (WG Elem. School Parking Lot)

SANTA CRUZ
2407 Porter Street (Sereno Office Parking Lot)

What to Bring, what’s accepted:

  • Computers / Laptops / Servers
  • Televisions / Monitors
  • DVD / CD Players
  • Fax Machines / Printers
  • Copy Machines
  • Toner Cartridges
  • Speakers / Stereo Equipment
  • Rechargeable Batteries
  • Telecome Equipment / Telephones / Cell Phones
  • Wire / Cabling / Printed Circuit Boards
  • Aluminum / Scrap Metal
  • Microwave Ovens

Items NOT Accepted:

  • Alkaline Batteries
  • All Lightbulbs
  • DLP TV’s

GreenMouse Recycling shreds and Grey Bears reconfigures all hard drives so no one can access your personal information!

 

Additional details: https://www.serenogroup.com/Earth-Day-E-Waste-Event

 

cornucopia_photoThanksgiving is just a few weeks away, and there are interfaith services going on and welcome all.

Only a few have announced dates yet, so this post may be updated when I am alerted to more.

On Thursday, November 23, after starting the turkey and before the guests arrive, head over to the Saratoga Federated Church at 20390 Park Pl for the 52nd Annual Interfaith Thanksgiving Service from 10am-noon. This celebration is hosted by a different religious community each year in the Los Gatos, Saratoga, Monte Sereno area and is the perfect chance to share community time and spread thanksgiving with your neighbors. Congregation Beth David is the only website with information on this event at the present (please use the link to learn more).

Wishing everyone a very Happy Thanksgiving! Hope to see you at one of these events!

 

  1. 3 beds, 3 baths
    Home size: 2,010 sq ft
    Lot size: 2,051 sqft
  2. 5 beds, 3 baths
    Home size: 2,354 sq ft
    Lot size: 13,085 sqft
  3. 3 beds, 3 baths
    Home size: 3,235 sq ft
    Lot size: 12,336 sqft
  4. 4 beds, 2 baths
    Home size: 1,960 sq ft
    Lot size: 13,338 sqft
  5. 5 beds, 4 baths
    Home size: 3,107 sq ft
    Lot size: 10,001 sqft

See all Real estate in the city of Saratoga.
(all data current as of 10/20/2018)

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

el-sombroso-and-blossom-hill-from-vasona-parkWhat makes an expensive house in the San Jose area more than just a pricey bit of real estate, but instead a Silicon Valley luxury home? How is high end real estate different from the rest of the market? When is a property not just a home with land, but an estate?

In other parts of the U.S., spending $1,200,000 may fetch a 4000 square foot home, new construction, in an upscale gated community with country club amenities such as a golf course, tennis courts, and more. Here, that same $1,200,000 will procure an entry to mid-level single family home in many parts of Santa Clara County. It won’t necessarily be a Silicon Valley luxury home.

Luxury connotes a combination of qualities, features, and amenities. And it includes pricing (relative to the nearby market), condition, land, design.

Pricing Luxury Homes in Silicon Valley: What Do They Cost?

Expensive Silicon Valley homes are not necessarily luxury homes. Depending on the city or town, the price tag could be higher or lower. For instance, a fabulous house on a large lot in Gilroy’s Eagle Ridge might sell for 1/3 as much as the identical type of home, land and neighborhood found in Saratoga, Monte Sereno, or Los Gatos, or Los Altos, if a similar home happened to be available. Generally, though, luxury homes could cost as little as $1,000,000 or so in some parts of Silicon Valley or in neighboring counties, but in most parts of Silicon Valley, a true estate type property will be valued at $2,000,000 or $3,000,000 or more.  In some areas, such as Palo Alto, that $2 million doesn’t go too far and the home you can purchase at that price tag may need major updating – or it could be “land value”.  For our purposes today, we’ll use $2 million as the bottom number for estate properties, but it may or may not be the case in some areas.

Continue reading

What does it cost to buy a home with really good schools in Silicon Valley? Los Gatos, Saratoga, Cupertino and Palo Alto are all areas with highly regarding public schools. These aren’t the only areas with good schools but they are popular “west valley” areas that people may consider if working for Apple, Google, Microsoft, Facebook or any number of high tech employers.

Los Gatos and Saratoga both have multiple school districts, running from good to very good or excellent. The cost of housing tends to follow the popularity of the district, so for those areas I’m showing the breakdown not just for the whole town of Los Gatos but also by the high school district (Los Gatos-Saratoga or Campbell Union High School District). Same with Saratoga. (The Monte Sereno real estate market is very similar to Los Gatos, but slightly more expensive. Most of Monte Sereno has Los Gatos schools, but a small number of homes are in the Campbell area.)

Here are the average numbers for single family homes sold in the last 60 days ranging from 1500 – 2500 square feet, on a lot between 5000 and 10,000 SF, with 3-5 bedrooms and 2-3 bathrooms to give a sense of what it would cost to purchase a typical house in these areas. Please note that right now it’s a strong seller’s market, so many (if not most or all) homes are selling for more than the list price.  DOM stands for days on the market.

b 1 800x265 - How do prices compare between Los Gatos, Saratoga, Cupertino and Palo Alto?

If you are new to Santa Clara County, you may be wondering if this is correct. The cost to buy a home in these areas is what?

  • Los Gatos: approximately $1,500,000 to $2,150,000 depending on the school district
  • Saratoga: approximately $1,700,000 to about $2,500,000 depending on the schools
  • Cupertino: approx $2,000,000 (some high schools will bring in higher prices and others lower)
  • Palo Alto: approx $2,700,000 – $3,000,000

Remember, these prices do not mean that the houses being sold are perfect. Because it is a strong seller’s market, many properties are being sold which need new roofing, extensive pest work, remodeling, perhaps updating of electrical or plumbing systems or more. Many home buyers will need to spend 1-2% on things like termite fumigation, dry rot or roof repairs, carpets, paint, windows and more, and usually this will be done before they move in. So whatever the budget is, buffer it a little bit for both money and time to make it turnkey.

To compare, here’s the same chart, following the same criteria, taken in April 2014. See what’s changed:

Market info April 19 2014

 

For people relocating to Silicon Valley from out of the San Jose or Peninsula area, this real estate market can be daunting. There are other areas with good schools which are a bit further from most employment areas which can be an alternative, too. They include the Cambrian 95124 and Almaden 95120 (especially the southern area with Bret Harte Middle School and Leland High School) areas within San Jose.

Finally, in some cases, it may be more affordable to make use of private schools, which are plentiful in the San Francisco Bay area. In some situations it can be financially more affordable to buy outside of the highly competitive areas with the best schools and utilize the private school system. Some of the private schools are religious, some secular, and some with a language focus (bilingual in French, German, Chinese, etc.).

Interested in purchasing a home in one of these fantastic communities?  Please call or email me!  408 204-7673  or mary (at) popehandy.com

  1. 4 beds, 3 baths
    Home size: 1,913 sq ft
    Lot size: 7,631 sqft
  2. 4 beds, 3 baths
    Home size: 1,412 sq ft
    Lot size: 6,599 sqft
  3. 4 beds, 5 baths
    Home size: 2,388 sq ft
    Lot size: 6,298 sqft
  4. 6 beds, 5 baths
    Home size: 3,693 sq ft
    Lot size: 10,972 sqft
  5. 4 beds, 3 baths
    Home size: 1,905 sq ft
    Lot size: 5,505 sqft
  6. 3 beds, 2 baths
    Home size: 1,548 sq ft
    Lot size: 7,849 sqft
  7. 4 beds, 3 baths
    Home size: 1,938 sq ft
    Lot size: 5,776 sqft
  8. 4 beds, 2 baths
    Home size: 1,853 sq ft
    Lot size: 10,018 sqft
  9. 5 beds, 3 baths
    Home size: 2,356 sq ft
    Lot size: 4,791 sqft
  10. 3 beds, 2 baths
    Home size: 1,395 sq ft
    Lot size: 5,993 sqft

See all Real estate in the city of Cupertino.
(all data current as of 10/20/2018)

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

Sketch of houseIt can be really challenging for people moving to Silicon Valley to get a sense of real estate prices, and perhaps more, to compare housing costs from one town or district to another.

One question I get a lot is this: what does it cost to buy a 4 bedroom, 2 bath house of about 2000 square feet?

So to answer this question, let’s see what houses like this are selling for (4 bed, 2 bath, appx 2000 SF or 185 square meters) and see how the cost looks in one Santa Clara Count y / Silicon Valley area versus another.

Today I compared several areas and cities using this criteria: single family homes of 1800 – 2200 SF, 3-5 bedrooms, 2-3 bathrooms, on lot sizes of 6000 SF to 10,000 SF. Normally I would chart this over the last 2 months, or 60 days, but because of the low inventory causing the sellers market I have expanded the search to the last 3 months, or 90 days, for a better range. As of this writing, Saratoga only had one sale over the last 90 days, so data for that segment may or may not be a good average.

Here’s how it shakes out in the “west valley areas” along the Highway 85 corridor, most of which are known to have good to great public schools. What areas are most affordable? One way of analyzing this is the “price per square foot” figure. Whenever I update the chart, I re-arrange the order of the cities from high to low based on the price per square foot, although there’s usually minimal movement.

2 1 - Comparing cost of housing in West Valley communities from Palo Alto to Los Gatos to Blossom Valley: what will a 4 bedroom home cost?

To compare, here are the numbers from the this past January 26, 2017. There were fewer sales, so the search range was bumped up to 120 days instead of 90 days (and Los Altos was so low, it was individually searched at 180 days). You might notice price per square foot appears lower across the board in January compared to July. This is most likely because the market has heated up over spring and summer, which you can also see in the DOM.

Capture2 - Comparing cost of housing in West Valley communities from Palo Alto to Los Gatos to Blossom Valley: what will a 4 bedroom home cost?

Below are my results from the same search back in September 18, 2015. By comparison, you can tell that Santa Clara’s average Price has increased, pushing it above Almaden and Campbell.

How competitive is the market? Have a look at the DOM or “Days on Market” figure. All of these days on market are short, but they range from low to heart-skippingly fast.

4homesb2 - Comparing cost of housing in West Valley communities from Palo Alto to Los Gatos to Blossom Valley: what will a 4 bedroom home cost?

In most cases, the priciest and most desirable places have either the best schools or shortest commute location or both (Palo Alto and Cupertino have both). Had I ranked these for school scores, you’d find that Cambrian is fairly high up and a good “bang for the buck” location – though not a super short commute for folks who work in Mountain View (though not so bad for people working in Cupertino).  Almaden, too, offers a good value for the quality of the schools, homes, and neighborhoods, though the commute is longer. None of these is especially close to North San Jose (where a major employer is Cisco).

It should also be noted that in some of the smaller communities with less on the market these numbers may not be as stable as others with more data – for instance, Los Altos only had four homes sold, the second lowest, matching this criteria within the 90 days of collected data, and therefore may not be as accurate as others, such as the Blossom Valley area of San Jose with the most data at 38 homes sold. For these smaller communities with less data, it is beneficial to look at them more closely – Saratoga, for instance, has 3 different high school districts which have an impact the real estate prices. This chart is really just a snapshot to give a general sense of the relative affordability of these markets to one another. Continue reading

Often I have clients who are interested in purchasing a 4 bedroom, 2 bath home in a good school district in Silicon Valley, particularly in the South Bay and West Valley areas. Tonight I did a study on the MLS of homes that have sold and closed escrow in the last 4 months with these characteristics:

  • single family home (house)
  • 4 bedrooms
  • 2 bathrooms
  • 1800 to 2200 square feet of living space
  • 6000 to 10,000 sf lot

Disclaimers aside, here are the numbers for select West Valley Communities in the West/South Bay area with good schools. The first number is the average sales price per square foot, the second number is the average sales price:

2a 3 - What Does It Cost to Buy a 4 Bedroom, 2 Bath Home in Silicon Valley with Good Schools?

And a look at the chart from all back in 2015…

Homes sold 60Day 3 5Bed 2 3Bath 4 20 2015 e1493852936467 - What Does It Cost to Buy a 4 Bedroom, 2 Bath Home in Silicon Valley with Good Schools?

And all the way back in 2011. What’s changed? A lot! The order has shifted some, showing where demand has increased or decreased. Most noticeably, the prices are significantly lower in 2011 than they are now. The 2015 chart shows prices somewhere in-between the 2011 and 2017 levels. Palo Alto and Los Altos remain consistently in the top two positions.

Cost to buy a 4 bed 2 bath house in the West Valley areas of Silicon Valley

The home prices tend to run with the school district API scores.  You can check the 2013, three year average, API scores in Santa Clara County for both the districts and the individual schools online here.         Continue reading

hero-shakespeare-hollywood-768x400 - CopySummer means outdoors Shakespeare! The Los Gatos troupe, Festival Theatre Ensemble, has closed its doors for good, but don’t despair – there’s more to see in Saratoga!

Silicon Valley Shakespeare, formerly known as the Shady Shakespeare Theatre Company, is gearing up for the upcoming season of outdoors performances. This group has been active for 16 years and is a well-loved regular in the Saratoga summer arts scene. Every year they hold two sets of outdoor performances. The first are free performances of a Shakespeare classic in Willow Street Park of Willow Glen, San Jose. Bring your own seating and come early for the best spot. Following that, they produce a second Shakespeare play and another more contemporary work at the troupe’s usual venue, Sanborn Skyline County Park in the hills over Saratoga. Tickets may be purchased in advance for the Saratoga performances.

This year, the first show in San Jose will be the Merry Wives of Windsor held in June, providing locals the opportunity to enjoy free, live theatre within the community (donations are welcome). In Saratoga, see the Prince of Denmark in Hamlet from July through September, or catch the contemporary addition to Sherlock Holmes‘ adventures in the new case by Jeffrey Hatcher from August through September.

It’s a great deal, too, with tickets priced at $25. Senior (60+), college student, and educator discounts for $20, and kids come free with paying adult. Tickets are available to purchase online, so buy tickets ahead of time. Shows run through September 3rd.

Check the Silicon Valley Shakespeare website for more!

SVS 2017 - Silicon Valley Shakespeare Summer Set in Saratoga

  1. 2 beds, 1 bath
    Home size: 720 sq ft
  2. 3 beds, 2 baths
    Home size: 1,093 sq ft
    Lot size: 9,234 sqft
  3. 4 beds, 3 baths
    Home size: 2,818 sq ft
    Lot size: 40,031 sqft
  4. 2 beds, 1 bath
    Home size: 1,224 sq ft
    Lot size: 5,501 sqft
  5. 4 beds, 3 baths
    Home size: 1,646 sq ft
    Lot size: 6,137 sqft
  6. 2 beds, 1 bath
    Home size: 896 sq ft
    Lot size: 5,100 sqft
  7. 4 beds, 3 baths
    Home size: 3,263 sq ft
    Lot size: 4.54 ac
  8. 4 beds, 3 baths
    Home size: 3,168 sq ft
    Lot size: 5,601 sqft
  9. 4 beds, 3 baths
    Home size: 4,287 sq ft
    Lot size: 1.30 ac
  10. 6 beds, 3 baths
    Home size: 2,448 sq ft
    Lot size: 9,469 sqft

See all Real estate in the city of Los Gatos.
(all data current as of 10/20/2018)

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

The Parker Ranch neighborhood is found in the low western foothills of Saratoga along the Cupertino border, making it a fantastic commute location for many high tech workers.  With larger homes and lots, it’s easy to stretch out!   The rolling hills make a pleasant vista, or, if you’re in a higher elevation provide beautiful valley views.  The Parker Ranch subdivision boasts highly acclaimed Cupertino schools.  There are many reasons why this is a much beloved area of Saratoga.

There are just shy of 80 houses and luxury homes in Parker Ranch, so it’s not a hugely populous area, but it is fairly large.  Here are a few quick facts on this scenic subdivision:

  • Range of home size:  2,797-7,500 SF
  • Average SF:  4,517 SF
  • Range of lot size:  22,000-146,361 SF
  • Average Lot:  70,786 SF
  • Years Built:  1900-2013, lots of development in the 1980s

What do homes cost in Parker Ranch?

Because there’s an incredible variety in home and lot size, as well as age and condition, it’s not easy to pinpoint the likely price of the neighborhood.  However, as a very broad rule, most homes will currently range between $2.5 and $3.5 million.

What are the subdivision’s boundaries?

Map Boundaries:  Streets include Vista Arroyo Ct, Star Ridge Ct, Prospect Rd (pasture only), Picea Ct, Pheasant Ridge Rd, Parker Ranch Rd (major road), Parker Ranch Ct, Farr Ranch Rd (2nd major road), Farr Ranch Ct, Diamond Oaks Ct, Continental Cir, Comer Dr, and Chiquita Ct. To the W and N, the border is Prospect rd. A SW portion borders the Saratoga Country Club. To the S is Mt Eden.

Parker Ranch subdivision map - Saratoga, CA

Any special issues with Parker Ranch homes?

As with all homes near the coastal foothills, water and drainage will be very important to manage here.  Also there are high voltage power lines running through part of the community, with some homes built very close to both the lines and the towers.

Homes for sale in Parker Ranch

 

 

Related Reading:

Saratoga, CA – on the popehandy.com site

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Translation

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Mary Pope-Handy
Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805


Selling homes in
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