February 17,2012 Saratoga Market Update
The Saratoga Real Estate market has really picked up steam. Over the past 2 weeks in February there has been 18 homes that has gone into contract.
Homes that weren't selling previously are now sold. There are two homes in particular that come to mind that gives me key indications of a changing market.
First one is: 15145 El Quito Way which is off of Maude Avenue. Small house only 1510 sf, 3 bedrooms, 1 1/2 baths, asking $1,450,000, fixer type and they had 13 offers. Some over asking.
Second: 14631 Horseshoe Drive- again another fixer situation. 61 years old but livable. 2300 sf. on 32,000 lot. Nice location. Currently has 5 offers and asking $1,798,000.
As of today there are only 65 homes on the active market in Saratoga from $674,000 to $17,500,000. I would call this a pretty tight market right now. Feels as if it's picking up steam as demand is at present outpacing supply.
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