Alain Pinel Shines
Who says the real estate market is weak? Alain Pinel Realtors just announced $7.2 Billion in transactions for 2007, compared with $6.6 Billion in 2006! In 2007 we did $870 million out of our Saratoga office alone, for an average of $6.1 million per agent and 5.1 units per agent. This was exceeded only in some penninsula offices such as Menlo Park with even higher valued properties! Thank you to all our clients and friends who have contributed to our 2007 success. You’re the best!
As we start the new year, Saratoga available inventory is a very low 58 homes with an average list price of $2.9 million and an average size of 3,624 sq. ft. This is skewed by 9 very large properties listed at more than $4 million.
In the past three weeks there have only been 5 new sale pendings in Saratoga – two modestly priced homes on Aspesi; acre lots on Old Wood Rd. and Mt. Eden Rd.; and a nice house on Oak, which sold after the price was dropped $86,000 to $2.3 million.
On tour this morning the talk was about a couple of new listings under $1.7 million that are expected to sell immediately to multiple offers. An active penninsula lender agreed that part of the continued strong local market is attributed not only is the strong local economy and low inventory, but becuse local demand has a broad international base, where Saratoga is viewed as an attractive investment and desirable place to live.Â
