Sales Down in Saratoga Real Estate Market

The Saratoga market pulled back with a 12.9% sales drop in this week's report. However, overall sales numbers for the last 30 days remained above the monthly average (25.4) with 27 homes sold. Meanwhile, close-by San Jose reported 645 homes sales, the highest number from all the surrounding cities. Potential buyers should note that prices are coming down in Saratoga, and for this period the median sales price slid from $2,200,000 to $2,075,000. With only two months of inventory to sell, Saratoga is a strong seller's market, in spite of the dip in sales.

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Demographic facts about Saratoga:

  • This area has a median house value of $1,429,100.
  • Average number of rainy days is 58 per year. (U.S. average: 100)
  • This area has an unemployment rate of 9.1%.
  • The students per teacher ratio in this area is 19.9:1. (15.3:1 = national average)

Data reported through 10/13/2016

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