Saratoga Market Performance - Past 3 Years- Q2 2024

Saratoga, renowned for its luxury homes and excellent schools, continues to attract home buyers seeking an upscale suburban lifestyle. As of Q2 2024, Saratoga’s real estate market shows a number of 80 sold single-family homes. Homes are selling quickly, with single-family homes averaging just 19 days on the market. This rapid turnover highlights the strong demand for properties in this city, driven by its desirable living conditions and strategic location. The quick pace of sales indicates a competitive market where buyers need to act swiftly to secure homes.

The price per square foot in Saratoga stands at $1,581 for single-family homes, reflecting stable and high property values. Over the past three years, the price per square foot has increased from $1,178 in Q1 2021 to $1,581 in Q2 2024, indicating a strong and consistent appreciation in property values. The city’s blend of suburban charm and urban amenities makes it an attractive location for homebuyers, contributing to the strong demand and competitive pricing. This consistent rise in property values underscores the desirability of Saratoga as a premier residential destination.

The median sale price in Saratoga is $4,071,500 for single-family homes, showcasing the ongoing demand and competitive nature of the market. Historically, the median sale price has seen a significant rise from $3,252,000 in Q1 2021, reflecting a substantial increase over three years. These significant median prices reflect the desirability of Saratoga as a residential destination, where the combination of economic opportunities, excellent schools, and a vibrant community life creates a strong market. As we move further into 2024, these trends are expected to continue, reinforcing Saratoga’s position as a key residential area in the region. The continued influx of homebuyers, coupled with the city’s robust economic base, will likely sustain high property values and competitive sales across all types of residential real estate.