There is a reason they call it the “Golden Triangle” - but not all the gold is found in the triangle!  Well priced properties in Saratoga, $1.8 million and under are moving fast, often to multiple offers, defying the popular notion that the real estate market has tanked. 

Last week Richelieu priced at $1.675 M had 27 offers and Carniel at $1.5 M had 15 offers!  Also sold were Loma Rio listed at $1.8 M; Woodmont at $1.74 M; and Woodview at $1.8 M. 

Buyers are looking for schools first, then a home that meets their functional needs (in terms of bedroom count, room layout and lot size), an attractive price and sometimes condition is lower on the list.  This defies conventional wisdom that updating and presentation is “king”, at least in this unusual local market phenomenom.

A very nice single level, patio home at Atrium Circle, priced at $795,000 also sold rapidly last week, as expected.

On the other hand, the market will “vote to pass” until the total package (price, condition, presentatiion and marketing) are sufficiently attractive.   It took 202 CDOM, two agents and several price reductions from $1.299 M for Aspesi, now priced at $1.198 M to finally “sell”.   Similarly, Paseo Olivos was on the market 257 CDOM before it “sold” last week, after being listed with two different agents and reduced to $1.05 M from $1.38 M.

Rapid sales absorption has reduced Saratoga’s inventory down again to 57 detached homes.  Contact Rick Bonetti @ 408-857-8800 for real estate intelligence and help navigating the market to buy or sell.