Saratoga, CA, Real Estate Market Update
How’s the Saratoga California real estate market?
Today we’ll look at the monthly sales numbers for Saratoga, CA 95070 and also view 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.
Monthly Real Estate Update for Saratoga – prices of houses rising:
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. 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).
Here are the real estate sales statistics for closed sales in March 2012 among houses in the 95070 zip code (click on link to read the full Saratoga Real Estate Report for houses):
| Trends At a Glance | Mar 2012 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $1,580,000 | $1,454,000 (+8.7%) | $1,387,500 (+13.9%) |
| Average Price | $1,631,430 | $1,658,120 (-1.6%) | $1,500,280 (+8.7%) |
| No. of Sales | 31 | 16 (+93.8%) | 18 (+72.2%) |
| Pending Properties | 60 | 41 (+46.3%) | 40 (+50.0%) |
| Active | 59 | 62 (-4.8%) | 56 (+5.4%) |
| Sale vs. List Price | 98.9% | 97.6% (+1.4%) | 92.4% (+7.0%) |
| Days on Market | 65 | 78 (-16.6%) | 73 (-10.6%) |
And February
| Trends At a Glance | Feb 2012 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $1,454,000 | $1,280,000 (+13.6%) | $1,350,000 (+7.7%) |
| Average Price | $1,658,120 | $1,793,570 (-7.6%) | $1,538,290 (+7.8%) |
| No. of Sales | 16 | 16 (0.0%) | 13 (+23.1%) |
| Pending Properties | 41 | 35 (+17.1%) | 30 (+36.7%) |
| Active | 62 | 57 (+8.8%) | 49 (+26.5%) |
| Sale vs. List Price | 97.6% | 97.6% (-0.1%) | 98.4% (-0.8%) |
| Days on Market | 78 | 67 (+17.5%) | 34 (+129.8%) |
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 8% from a year ago. This implies that more expensive homes are selling – and possibly that home values are rising too. The average is also up about the same amount year over year.
Next, please find the basic statistics for closed sales in February 2012 among townhouses & condominiums in the 95070 zip code (see the Saratoga Real Estate Report for condos & townhomes):
| Trends At a Glance | Mar 2012 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $560,000 | $485,000 (+15.5%) | $582,000 (-3.8%) |
| Average Price | $521,200 | $474,296 (+9.9%) | $620,000 (-15.9%) |
| No. of Sales | 5 | 3 (+66.7%) | 3 (+66.7%) |
| Pending Properties | 4 | 6 (-33.3%) | 2 (+100.0%) |
| Active | 6 | 3 (+100.0%) | 12 (-50.0%) |
| Sale vs. List Price | 99.2% | 95.3% (+4.0%) | 96.0% (+3.3%) |
| Days on Market | 86 | 131 (-34.5%) | 19 (+359.6%) |
And February
| Trends At a Glance | Feb 2012 | Previous Month | Year-over Year |
|---|---|---|---|
| Median Price | $485,000 | $520,800 (-6.9%) | $940,000 (-48.4%) |
| Average Price | $474,296 | $463,267 (+2.4%) | $940,000 (-49.5%) |
| No. of Sales | 3 | 3 (0.0%) | 2 (+50.0%) |
| Pending Properties | 6 | 3 (+100.0%) | 4 (+50.0%) |
| Active | 3 | 6 (-50.0%) | 10 (-70.0%) |
| Sale vs. List Price | 95.3% | 97.3% (-2.0%) | 86.3% (+10.4%) |
| Days on Market | 131 | 86 (+52.9%) | 104 (+26.5%) |
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.
Median List Prices of Saratoga Homes for Sale
First, a graph displaying the overview of the median list prices for condominiums and single family homes in Saratoga – all price quartiles combined:
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.)
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.
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
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.)
It’s less clear, but still visible, with condominiums and townhouses in Saratoga:
Average Days on Market for Saratoga Homes for Sale
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. 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 be following the same general trend.
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 Saratoga
If 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.)
Showing properties
1 - 5 of 89.
See more city of Saratoga real estate.
(all data current as of
5/23/2012)
-
$1,898,000 : 19171 Allendale Av, Saratoga5 beds, 3 full baths
-
$3,895,000 : 19905 Sunset Dr, Saratoga4 beds, 3 full, 2 part baths
-
$1,988,000 : 20795 Russell Ct, Saratoga3 beds, 2 full, 1 part baths
-
$2,088,800 : 14000 Alta Vista Av, Saratoga5 beds, 4 full, 1 part baths
-
$2,890,000 : 20125 Winn Rd, Saratoga5 beds, 3 full baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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 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.
Tags: CA, condo, condos, days on market, homes for sale, house, houses, inventory, market, quartile, Saratoga, Saratoga real estate, Saratoga real estate market, statistics, townhouse, trends
