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How’s the Saratoga California real estate market?

Today we’ll look at the monthly sales numbers for Saratoga, CA 95070 from a few different angles: first, some I crunched myself using MLSListings.com, including a peek at what the market is like by school district going back the last 30 days as of today. Next we’ll see the closed sales numbers for May 2012 and then as the live charts reflecting homes listed for sale on the MLS. Both houses and condos/townhomes will be considered as will varying price quartiles via the live charts.

June sales to date: the last 30 days of home sales in Saratoga

As with much of the “west valley”, the Saratoga, CA real estate market is a seller’s market, but it does not appear quite so overheated as neighboring – and far more affordable – Cupertino right now, though perhaps it is catching up. Unlike many other areas, though, inventory is a little looser and is up month over month (which is seasonally expected) and year over year (not a seasonal issue, of course). First, let’s look at the closed stats for June from my Real Estate Report (which covers the whole county).

There were NO condos sold (closed) in June, so no stats.A couple of weeks ago, I crunched some of the numbers myself- this was done on June 22nd. I like to also factor in the subsets of the market by school district since that is how many buyers shop.Houses sold & closed in Saratoga, California 95070 during the last 30 days (most of June and the last week of May) 2012 = 36.Average values for Saratoga homes, plus those on lots of up to 45,000 SF and by school district:

 

Saratoga CA Market June 22 2012

Saratoga CA Market June 22 2012; data from MLSListings.com, crunched by Mary Pope-Handy


While the market is good overall for Saratoga house sales, it’s a little better in some areas and price points than others. The most affordable part of Saratoga is that with Campbell schools and those homes are flying off the market with an average of 35 days on the market and months of inventory a very brisk 1.17! The least expensive are the most desirable now! A small sliver of Saratoga is within the boundaries of the Cupertino school district and these homes are also selling very well, but surprisingly, on average they are going for less than asking (a hint that the market is cooling a little, at least there). Much harder to sell are homes with Saratoga schools, though I suspect that this is in large part due to the hefty price tags, not the schools (and if we broke it down by price point, I would expect to find the least expensive homes “in the schools” to sell well).Here are the real estate sales statistics for closed sales in May 2012 among houses in the 95070 zip code (click on link to read the full Saratoga Real Estate Report for houses).

The median sales price, which is the number indicating that half of the homes sold for more and half less than this number, has risen almost 17% from a year ago. This implies that more expensive homes are selling – and probably that home values are rising too. The average is also up about 6 1/2%t year over year.Saratoga condo and townhouse sales:Next, please find the basic statistics for closed sales in May 2012 among townhouses & condominiums in the 95070 zip code (see the Saratoga Real Estate Report for condos & townhomes):To really understand the condo and townhouse market it’s better to see actual sales and compare them quarter by quarter, using similar units. 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.Are homes getting more expensive in Saratoga?Here’s what the average sales price of a house in Saratoga has looked like over time recently. It would appear that prices are rising.

 

Saratoga sales prices over time (houses)

 

What do MOST houses cost in Saratoga? The following graph will give you an idea.

 

Saratoga CA house sales by price range

 

How hard is it to sell a house in Saratoga right now? What are the average days to sell and sales price to list price ratio?

 

Sales price to list price ratio and av days to sell for houses in Saratoga CA

 

Median List Prices of Saratoga Homes for SaleFirst, a graph displaying the overview of the median list prices for condominiums and single family homes in Saratoga – all price quartiles combined:

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

In general, the seller’s market is showing itself for houses in the fact that list prices are rising. Not so with condo and townhouse pricing. That’s a much cooler market.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.

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

In most price points, the list prices are now rising slightly, but most of all in entry level homes. In the last few months we’ve seen the high end home sales start to pick up in Saratoga, with a good run up in late 2010 before sliding earlier. Starting to improve now, though.And now, list price of condos by price quartiles.

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

Interestingly, the condo market is not enjoying at all the decent seller’s market seen among houses in this city. Every price point appears to be suffering, but the high end most of all.Inventory of both houses & condos in Saratoga.

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

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 – always sometime in summer. (Single family homes only.)

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

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

Real Estate Market Chart by Altos Research www.altosresearch.com

 

Average Days on Market for Saratoga Homes for Sale

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

Houses by quartile is not much different – DOM was rising across all price points and has been since August until spring, when the bottom and two quartiles (blue and green) reversed the trend.

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

These are the “hotter”or improving segments of the market right now.

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. But since August, all four groups appear to befollowing the general trend.

 

Real Estate Market Chart by Altos Research www.altosresearch.com

 

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 SaratogaIf 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 SiliconValleyHomeHunt.com or on my popehandy.com 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.)

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(all data current as of 9/21/2021)

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

 
 
Contact Mary Now 408 204-7673Interested 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 in Saratoga and nearby parts of Santa Clara County & Silicon Valley 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.Or just take a moment to phone me at 408 204-7673, or email me at mary (at) popehandy (dot) com. If you prefer, you can simply fill out a form online instead.

 

Trends At a Glance Jun 2012 Previous Month Year-over Year
Median Price $1,608,000 $1,675,000 (-4.0%) $1,480,000 (+8.6%)
Average Price $1,944,780 $1,825,410 (+6.5%) $1,574,660 (+23.5%)
No. of Sales 42 35 (+20.0%) 39 (+7.7%)
Pending Properties 34 44 (-22.7%) 34 (0.0%)
Foreclosures Sold 0 0 (N/A) 4 (-100.0%)
Short Sales Sold 2 1 (+100.0%) 2 (0.0%)
Active Listings 87 83 (+4.8%) 145 (-40.0%)
Active Foreclosures 0 0 (N/A) 0 (N/A)
Active Short Sales 0 0 (N/A) 8 (-100.0%)
Sales Price vs. List Price 100.2% 101.0% (-0.8%) 98.8% (+1.4%)
Days on Market 32 46 (-30.0%) 40 (-20.7%)
Trends At a Glance May 2012 Previous Month Year-over Year
Median Price $1,705,000 $1,750,000 (-2.6%) $1,461,500 (+16.7%)
Average Price $1,732,450 $1,800,900 (-3.8%) $1,628,320 (+6.4%)
No. of Sales 14 43 (-67.4%) 25 (-44.0%)
Pending Properties 29 44 (-34.1%) 42 (-31.0%)
Foreclosures Sold 0 2 (-100.0%) 0 (N/A)
Short Sales Sold 0 0 (N/A) 0 (N/A)
Active Listings 86 67 (+28.4%) 68 (+26.5%)
Active Foreclosures 0 0 (N/A) 0 (N/A)
Active Short Sales 0 0 (N/A) 0 (N/A)
Sales Price vs. List Price 100.8% 98.1% (+2.7%) 96.0% (+5.0%)
Days on Market 58 39 (+49.5%) 49 (+17.8%)
Trends At a Glance May 2012 Previous Month Year-over Year
Median Price $568,000 $755,360 (-24.8%) $555,500 (+2.3%)
Average Price $615,550 $675,430 (-8.9%) $616,833 (-0.2%)
No. of Sales 5 4 (+25.0%) 3 (+66.7%)
Pending Properties 7 5 (+40.0%) 4 (+75.0%)
Foreclosures Sold 0 0 (N/A) 1 (-100.0%)
Short Sales Sold 0 0 (N/A) 0 (N/A)
Active Listings 4 6 (-33.3%) 10 (-60.0%)
Active Foreclosures 0 0 (N/A) 0 (N/A)
Active Short Sales 0 0 (N/A) 0 (N/A)
Sales Price vs. List Price 100.3% 102.5% (-2.1%) 98.1% (+2.3%)
Days on Market 42 9 (+362.7%) 52 (-20.0%)

 

 

 

 

Author

  • Silicon Valley Realtor, selling homes in Los Gatos, Saratoga, San Jose, Silicon Valley, and nearby since 1993. Prolific blogger with a network of sites.