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The first three weeks of 2009 have brought five new pending sales (starting 1/10/09 after a quiet first 10 days) of single family homes in Saratoga:
13493 Pierce Rd., listed at $1,399,000, which was on the market 285 days.
13973 Quito Oaks Way, listed at $1,165,00, which was on the market 151 days.
12173 Country Squire Ct., listed at $1,400,000, which was on the market 172 days.
13116 Montrose St., listed at $829,900, which was on the market 73 days, and
14223 Okanogan Ct., listed at $2,590,000, which was on the market 124 days.
17 new properties were added to the detached inventory so far this year. There are currently 111 detached and 18 attached homes on the market in Saratoga.
11 homes (which had been on the market an average of 185 days) had price reductions early in 2009 and interesting enough there were 2 homes that had price increases.
There were 3 properties (Fruitvale, Victor Place and Kodiac) which are now “short sales” requiring lender approval. These were added to a slowly growing list that includes a home on Paseo Tierra and a home on Merribrook. There are also 3 Saratoga condos (2 in the Vineyards and 1 in The Saratogan) that are now short sales.
Expectations were high that a $1.6M listing on Harleigh in Saratoga (which had about 50 groups at open house the previous weekend) and a similarly priced home on Reid would have multiple offers, but they did not – these are good houses and the fact that they did not sell immediately indicates a softening in this middle market in 95070.