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Spring 2012 Market Update
The Saratoga community gives its residents a tranquil lifestyle with plenty to do, with community members hosting a variety of special events and celebrations year-round. The real estate market in Saratoga, CA consists primarily of single-family detached homes for sale and some land lots for custom home building. From sprawling ranch real estate to turn-of-the-century two-story houses and modern homes, there are properties to suit many buyers’ needs.
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| Average Home Price | $1,800,000 - View Graph Trend |
| Average Price Compared to Last Year | Up 10-15% |
| Average Time on Market | 30-60 days |
| Best Selling Price Range | $1,000,000+ |
| Worst Selling Price Range | $500,000 - $549,000 |
| Prices As % of Asking Price | 95-100% |
| Existing Home Prices for the past 90 days are? | No Change |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in Saratoga is | Increasing |
| Seller Activity for the past 90 days in Saratoga is? | Decreasing |
| Multiple Offers? | No |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 5-10% |
| Is Financing Available For Qualified Buyers? | Yes |
| Housing Inventory | Limited Supply |
| Inventory Comments | Inventory rose 2.4% from last quarter, and was down 1.2% year over year. |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Home prices are now rising year over year in Saratoga. With the prospect of better economic news nationally and for the Silicon Valley area now may be a good time to purchase your Saratoga home. |
| Nearest Metro Area | San Jose |
| Housing Hot Spots | Today, over 30,000 residents call Saratoga home. Located southwest of San Jose along the rolling foothills of the Silicon Valley, the city is home to superior schools and a charming village atmosphere. Students in grades K-12 attend esteemed schools of the Saratoga Union Elementary and Los Gatos-Saratoga Joint Union High school districts. Those looking to attain a higher education may apply to prestigious universities nearby. |
| Average Sold Price | $1,800,000 - View Graph Trend |
Saratoga Local News
Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
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Mortgage Rates
– May 28th, 2012 –
---------------------------------
30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
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