Saratoga Real Estate Market Gathers Strength in early 2013
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| Saratoga Real Estate : Avg # of Days On Market vs Sale Price To List Price Ratio in % * |
*Source: MLS Listings : Data considered reliable but not guaranteed to be accurate.
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The
real estate market in Saratoga, CA typically consists of relatively large homes with large lots, amidst picturesque backing of the Santa Cruz mountains. Most homes here, are priced well over the million dollar mark. The city streets are designed to smoothly transition into one another giving it an upscale and streamlined look besides the green verdant landscape and beautiful homes that are part of Saratoga. Saratoga is considered to be an upscale part of Silicon Valley. Saratoga has some of the best schools while many neighborhoods in Saratoga are in the Cupertino School District.
The
Saratoga real estate market has seen some great demand over last year with most houses selling within weeks except for a few that stayed in the market for many months. As a result, the
Average Days on Market trend is a bit skewed towards the higher end.
That said, the above chart shows a fairly active market for Saratoga in February 2013 wherein, the Average Days on Market number (Red line) was down to 37 from a high 69 in January 2013. The Average Sale Price Over List Price Ratio (Blue columns) shows an premium of 101% over List Price in February 2013, indicating that some houses were selling over list price. However, many houses in Saratoga are selling around List Price, particularly the ones that have stayed in the market for a while. These numbers are comparable to April 2012 timeframe when the Saratoga real estate market had begun picking up steam with low inventories. During subsequent months last year, we saw better inventory coming in, keeping prices relatively stable.
Saratoga Real Estate Recent Home Sales
Here are some recent home sales in Saratoga, CA with the List Price shown in Blue and Sales price shown in Green when homes sold over List Price and shown in Red when homes sold below List Price.
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From Realtor Ranjana.
Author: Ranjana Shreedhar, Realtor
(408) 861-8026
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