The Saratoga CA real estate market is a strengthening sellers’ market.
- the average and median home prices are up month over month and year over year – by double digits
- inventory of Saratoga houses for sale is less half of what it was a year ago and 26.1% less in August as compared to July
- the sale to list price ratio remains over 100% and the days to sell is 21, the same as July but much faster than a year ago
Here’s a quick overview from the RE Report details below or please view the full data here.
How’s the Saratoga CA real estate market?
Saratoga has a diverse real estate market due to a wide range of home prices, square footage, lot sizes, school districts, and more. The luxury tier, generally $4 million and up (but in Saratoga, that’s really still just a house in an expensive zip code) normally moves slower than other price points. Saratoga’s entry level housing is usually the strongest. If the numbers swing wildly at any given month, it could be that more or fewer homes in a particular school district and pricing tier.
To really understand the Saratoga CA real estate market, you’ll need to get hyper local data for that home’s pricing tier, school district, and any other impactful data points.
With a mere 17 sales in August, the numbers are not as reliable as if we had either a larger pool or if the homes sold were all in the same school district, tract, etc. No just 21such luck. What’s best at times like these is to study the absorption rate and sale to list price ratio. The absorption rate is just 30 days of inventory (a warm seller’s market) and the sale to list price ratio is 101.2% (a seller’s market). The days on market are a swift 21. See a good property? Don’t assume it will last or that it will sell under list price!
Trends at a Glance for the Saratoga CA Real Estate Market
Data below for the Saratoga CA real estate market is from the ReReport.
| Trends At a Glance | Aug 2023 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $4,400,000 (+18.9%) | $3,700,000 | $3,712,500 (+18.5%) |
| Average Price | $4,575,290 (+28.1%) | $3,572,380 | $3,644,270 (+25.5%) |
| No. of Sales | 17 (+30.8%) | 13 | 26 (-34.6%) |
| Pending | 18 (+5.9%) | 17 | 20 (-10.0%) |
| Active | 17 (-26.1%) | 23 | 38 (-55.3%) |
| Sale vs. List Price | 101.2% (-1.0%) | 102.1% | 95.6% (+5.8%) |
| Days on Market | 21 ( no change) | 21 | 33 (-35.8%) |
| Days of Inventory | 30 (-43.5%) | 53 | 44 (-31.6%) |
Next, a quick glance at the Altos Research market profile for a quick summary of the Saratoga CA real estate market conditions. Altos uses LIST prices, not sold prices, for this chart and the others, below.
Altos Research – list prices for Saratoga CA 95070
It’s costing around $3.5 million for a “typical” Saratoga house – whatever that might look like!
Median List Prices of Saratoga Houses for Sale by price point
The Saratoga CA real estate market from the Altos Research set of tools.
We’ll start with 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.)
Saratoga condo and townhouse market:
Next, please find the basic statistics for closed sales last month among townhouses & condominiums in the 95070 zip code (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. This small inventory means data can quickly swing, so don’t trust the percentages in this chart too much.
Saratoga CA real estate market stats for townhouses and condominiums:
Saratoga’s condo market looks awfully wonky because there are so few sales: only 2 sales in August, 4 in July, 5 in June, 2 in May, and 3 in April. Please take it with a big grain of salt. What IS clear, though, is that there are more pending sales than active.
Please see all of the details HERE.
| Trends At a Glance | Aug 2023 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $1,280,000 (-14.2%) | $1,492,510 | $1,835,000 (-30.2%) |
| Average Price | $1,280,000 (-11.3%) | $1,442,760 | $1,797,620 (-28.8%) |
| No. of Sales | 2 (-50.0%) | 4 | 3 (-33.3%) |
| Pending | 2 (+100.0%) | 1 | 2 (0.0%) |
| Active | 1 (-66.7%) | 3 | 5 (-80.0%) |
| Sale vs. List Price | 98.0% (-5.6%) | 103.8% | 97.1% (+0.9%) |
| Days on Market | 24 (+25.3%) | 19 | 36 (-34.7%) |
| Days of Inventory | 15 (-33.3%) | 23 | 50 (-70.0%) |
Median List Prices of Saratoga Condos for Sale
And now, list price of condos by price quartiles.
Additional trend charts for both single family homes and townhouses & condominiums
Inventory of both houses & condos in Saratoga
The Saratoga CA real estate market typically does have lower inventory and sales in the autumn than in Spring, but it can still be a robust market between early to mid September and Halloween.
Average Days on Market for Saratoga Homes for Sale
Days on Market for Houses by quartile, the chart is not much different – what is so interesting right now is how close they are. The top price quartile is usually much slower than the rest, and slowing down as more inventory becomes available towards spring. Right now, all but the luxury tier of Saratoga sales are clearly speeding up with the lower half of the market moving significantly faster than the upper half of the market.
Saratoga real estate for sale – please browse the listings below!
Saratoga CA condominiums and townhomes for sale
- List View
- Map View
- Grid View
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$849,000-
Lot Size1,229 sqft
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Home Size948 sqft
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Beds2 Beds
-
Baths1 Bath
-
Year Built1971
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See all Saratoga, California Real Estate Condos.
(all data current as of
9/28/2023)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Saratoga CA houses for sale listed up to $3,500,000
- List View
- Map View
- Grid View
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$2,500,000-
Lot Size2.07 ac
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Home Size2,476 sqft
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Beds3 Beds
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Baths3 Baths
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Year Built1958
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$2,988,888-
Lot Size11,357 sqft
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Home Size2,064 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1950
-
See all Saratoga, California Real Estate up to $3.5 Mil.
(all data current as of
9/28/2023)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Saratoga CA houses for sale listed at over $3,500,000
Many of these will be in the very best neighborhoods in Saratoga, ca
- List View
- Map View
- Grid View
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$4,400,000-
Lot Size38,756 sqft
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Home Size3,516 sqft
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Beds5 Beds
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Baths4 Baths
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Year Built1977
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See all Saratoga over $3.5 mil.
(all data current as of
9/28/2023)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Looking to sell or buy a home? Mary Pope-Handy and Clair Handy sell throughout Santa Clara County, including Saratoga (Mary is a Saratoga High graduate from long ago), and sometimes into nearby counties also. Please reach out to us by email if you’d like to set up a time to talk by phone for an initial appointment. The best email to use is mary@popehandy.com – thank you!
