How is the Saratoga Real Estate Market?

As of this writing, the Saratoga real estate market is a mild seller’s market for both single family homes and for condominiums and townhouses (condos and townhomes comprise a small part of the overall market in Saratoga). November’s closed sales, quick facts:

  • Single family  homes are selling at an average of 99% of list price, and have 38 days on market.
  • For condos and townhomes, the sale to list price ratio is a cooler 95.2%, and the days on market is 53
  • Single family home prices, median and average, are off slightly (less than 1%) from last year, and are also off from October (-3.8% from the median and 7.3 % for the average)
  • Condo and TH prices have been rising, both month over month and year over year, both average and median sale prices

The Saratoga real estate market is comprised of several “micro markets”, as the city itself has several school districts, homes that are close to downtown and homes that are in suburban neighborhoods and others which are in remote mountain locations, and of course a wide variety of home prices up into the luxury tier. Each of these will be a little different. Please take the general numbers with a big grain of salt!

 

Saratoga View homes - a subset of the Saratoga real estate market

 

In terms of pricing, the lowest price points have been fairly flat while the most expensive properties have seen an increase in list prices. You can view that in the weekly Altos Research Report for Saratoga CA 95070.

Overall, though, as of this writing it is a slight seller’s market in Saratoga. Below, please find an Altos Research profile for Saratoga, CA 95070, using list prices (not sold data). This is automatically updated each week.

 

(more…)