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Available inventory in Saratoga, CA has risen to 171 detached homes for sale plus 20 attached homes, but there have been several notable sales in the past 3 weeks, primarily in the $1.3-2.3 million range.
Last Thursday, Alain Pinel had a well-attended ”Estate Tour” of homes listed above $3 million; several homes that were on the original March list were deleted because they were put on contract. However, the past three weeks has seen most activity in the “middle market” under $2.3 million.
The highest priced closed transaction the past three weeks was 20051 Spaich Court at $3.1 million – an good value for this beautiful 5,000+/-sf home. Although the seller had higher expectations, with the property was listed as high as $4.4 million last year, it was originally purchased for $3.0 million in 2001.
A lovely older home at 19874 Park Drive in a prestigious Glen Una neighborhood closed mid April, 2009Â at $2.2 million, down from its purchase price of $2.4 million in 2005.
An older home on Bellecourt, which I sold for $2.25 million in 2006 (located a couple of blocks away from Park Drive) also resold (sale pending) after being on the market this time for 291 days. The most recent list price was $2.2 million and the property is scheduled to close 5/14/09.
16101 Matilija Drive, which was purchased in 1999 for $1.45 million and most recently listed at $2.3 million is also now sales pending after 272 DOM.
18500 Aquino Drive closed escrow this month at $1.9 million, down from it’s 2000 purchase price of $2.65 million.
There have been some “good deals” for buyers in 2009 and the middle market appears to again be selling (albiet still slowly) with prices stabilizing at lower levels than 2008 expectations.
Click>here for more detail of what has sold in the past three weeks in Saratoga.
Call Rick Bonetti at 408-857-8800 if you are thinking about buying or selling a home in Silicon Valley.