Saratoga Community downtown

May 2024

Saratoga is a quiet community with top-ranked schools and a very vibrant downtown. A very desirable place to live. Click here to see additional information on the Saratoga Community and Schools.

Median home prices for Saratoga remain steady which includes a 33% jump from 2018-2020 . The annual increase in the median price for Saratoga homes has averaged 6.3% per year (CAGR) over the past 25 years.

Market demand for Saratoga homes is consistent with recent years. The average Days on Market (red line) are at historic lows. Sales vs. List Price (blue line) declined to 2% over list.

The supply of New Listings (blue line) for Saratoga continued its 10-year decline to new historic lows. The number of Sales (red line) followed suit. This chart is updated annually after year-end.

Saratoga home prices span are relatively large range. Most homes are in the $2M to $5M price range. Homes with Saratoga schools or larger lots in the surrounding hills command higher prices.

The actual amount varies significantly by the size of the home, the schools and the lot. The scatter chart above shows the distribution of both home sizes and $ per SQFT.

The Quarterly Median Price remains at historic highs.

This monthly view of median prices for Saratoga homes shows prices have returned to 2021 highs. Keep in mind that the fluctuation may be due to a change in the mix of homes selling in a particular month, not necessarily changes in home values.

The average days on market are longer than the past two years, but lower than the years prior to that. The spike in Feb is due to a very small number of sales in that month.

Final sales prices are slightly over list price.

Homes selling within the first 10 days on market are selling up to 15% over list.

The monthly supply of New Listings is significantly less than prior years. Note that Nov-Dec is the slowest time of year.

The Inventory of Active listings is significantly below prior years.

The monthly number of Sales is slightly lower than prior years, which is consistent with the supply of New Listings.

Source: The data above is obtained directly from MLSlistings, the multiple listing service (MLS) serving Santa Clara and San Mateo counties. The information is deemed to be accurate, however is not guaranteed.