Orchard and Hills in Saratoga, California
The Saratoga CA real estate market has been giving us some mixed signals over the last few months. Overall, though, it’s a seller’s market. Some new listings are selling fast and with significant overbids. Other properties that have been on the market a while seem to just be sitting.
- Saratoga average house prices rose month over month, but were down year over year.
- The median sale prices for single family homes also rose monthly and fell annually.
- The days of inventory rose to 130 from 77.
- The sale to list price ratio to 105.2% in February from 101.2% in January.
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.
Trends at a Glance for the Saratoga CA Real Estate Market
Data below is from the ReReport.
Our February numbers show a market that warmed up from the month before in some data points, but cooled in others. Home prices continued to rise, but the number of pending sales fell further. Those homes that did sell went for 5.2% over list price on average.
Saratoga has many micro markets – but overall, it’s a seller’s market.
Trends at a Glance
| Trends At a Glance | Feb 2023 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $3,700,000 (+5.7%) | $3,500,000 | $3,922,500 (-5.7%) |
| Average Price | $4,522,000 (+24.2%) | $3,640,000 | $4,617,080 (-2.1%) |
| No. of Sales | 5 (-28.6%) | 7 | 12 (-58.3%) |
| Pending | 41 (+28.1%) | 32 | 43 (-4.7%) |
| Active | 24 (+33.3%) | 18 | 15 (+60.0%) |
| Sale vs. List Price | 105.2% (+4.0%) | 101.2% | 110.1% (-4.4%) |
| Days on Market | 68 (+101.2%) | 34 | 98 (-30.0%) |
| Days of Inventory | 130 (+68.0%) | 77 | 34 (+284.0%) |
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
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.)
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 were only 2 sales in February. Please take it with a big grain of salt.
| Trends At a Glance | Feb 2023 | Previous Month | Year-over-Year |
|---|---|---|---|
| Median Price | $927,500 (-52.4%) | $1,950,000 | $990,000 (-6.3%) |
| Average Price | $927,500 (-52.4%) | $1,950,000 | $990,000 (-6.3%) |
| No. of Sales | 2 (+100.0%) | 1 | 1 (+100.0%) |
| Pending | 1 (-66.7%) | 3 | 4 (-75.0%) |
| Active | 3 (-25.0%) | 4 | 1 (+200.0%) |
| Sale vs. List Price | 95.6% (+7.8%) | 88.6% | 111.9% (-14.6%) |
| Days on Market | 122 (+1,115.0%) | 10 | 5 (+2,330.0%) |
| Days of Inventory | 41 (-66.3%) | 120 | 27 (+50.0%) |
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
-
$885,000-
Lot Size
-
Home Size948 sqft
-
Beds2 Beds
-
Baths1 Bath
-
Year Built1971
-
-
$890,000-
Lot Size1,229 sqft
-
Home Size948 sqft
-
Beds2 Beds
-
Baths1 Bath
-
Year Built1971
-
See all Saratoga, California Real Estate Condos.
(all data current as of
3/27/2023)
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
See all Saratoga, California Real Estate up to $3.5 Mil.
(all data current as of
3/27/2023)
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
-
$3,750,000-
Lot Size40,947 sqft
-
Home Size1,548 sqft
-
Beds3 Beds
-
Baths2 Baths
-
Year Built1952
-
-
$3,795,000-
Lot Size12,663 sqft
-
Home Size3,019 sqft
-
Beds4 Beds
-
Baths3 Baths
-
Year Built1966
-
See all Saratoga over $3.5 mil.
(all data current as of
3/27/2023)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
View Saratoga CA homes for sale HERE.
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, and awards, background on sales experience, and more.
Or just take a moment to phone me at 408 204-7673, or email me
mailto:mary@popehandy.com
