What sold in Saratoga for July 2013!?

We wanted to explore what sold in Saratoga during July 2013.   Total of 32 properties sold in Satagoa for a total $64M and change.   However, unlike the sales stats in Los Gatos for July 2013; the Average Sale prices in Saratoga were higher than the Average List price.  

Average List price of homes in Saratoga  was  $2,00,735 vs the Average Sale price of $2,043,094.   We have written monthly posts on impact of Foreclosure Activity in Saratoga and consider this city a good place to buy some fixer uppers for rehab and flip.  

But let’s check what happened at the top end of the market in Saratoga for July 2013 : 

Saratoga List Price Range : $788,500 to $4,485,000

Saratoga Sold Price Range: $901,000 to $4,250,000 

1)Days on the market:  These  32 homes sold in Saratoga old between  5 to 271 days with an average of 37 days which still is a brisk pace for selling homes.

2) List Price Per Sqft:   The price per square feet for these 34 sales were $698 which is very near the Los Gatos average at $691.

3) Average Size:  The average of home size for these sales was 2,962 square feet. 

4) Average Sale Price:  The Average Sale price of these 34 homes in Saratoga  were 2,042,094.  

Although the sample size of one month might be a small indication to draw very firm conclusion, but it’s possible to spot a trend emerging where if this trend of declining prices continue, we might conclude that the market has already peaked in Saratoga and we are heading to much more stable market.  

Are you still in the market to buy in Saratoga!?  Let us know if your plans have changed and how we can help you secure a nice home in Saratoga.

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