Saratoga California Real Estate Market Statistics & Trends

The market was hotter for sales of houses in Saratoga, California earlier in the year, but sales have recently been sluggish for the majority of the various market segments in this fair city. Overall, prices were down a bit year over year.

By comparison, the rest of Santa Clara County, and most of Silicon Valley, saw primarily flat pricing year over year for houses but down a bit, year over year, for condos. Same goes for the city of San Jose, which has about a million residents: the pricing for houses was almost exactly the same as 12 months ago and the pricing on condos was down slightly. Now let’s dig into the details.

Here’s a graph displaying the overview of the median list prices for condominiums and single family homes in Saratoga – all price quartiles combined:

Things are lagging a bit overall…

Here’s a similar graph but just of the single family homes, and this time 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 falling slightly. But in the highest priced homes, which are luxury or estate properties, the list prices are rising. In the last few months we’ve seen the high end home sales start to pick up in Saratoga. Increased demand!

And again, list price of condos with price points included.

Interestingly, the mid-range condominiums in Saratoga are not doing too badly, and the lowest quartile is seeing the most gains.

Inventory for houses, townhouses and 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, please note where the peaks are found – always sometime in summer. (Single family homes only.)

It’s less visible, 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 is rising across all price points and has been since August:

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.