Is Saratoga Springs, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Saratoga Springs is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Saratoga Springs has remained a Seller's Market.

Key Takeaway

Saratoga Springs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Saratoga Springs, NY

How much do homes in Saratoga Springs, NY cost?

Median Sold Price

$589,106

$319/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$30,606(+5.5%)

Key Takeaway

Homes in Saratoga Springs have sold for 5.5% more than they did a year ago.

Summary: The median home sold price in Saratoga Springs was $589,106 in October 2024, up 5.5% from last year, and the median price per square foot was $319.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $305K$575K
+88.5%
2 $494.7K$500K
+1.1%
3 $518.7K$527.5K
+1.7%
4 $640K$665K
+3.9%
5+ $765.7K$902K
+17.8%

Summary: Saratoga Springs housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 88.5%, 2 bedroom homes increased by 1.1%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 17.8%.

Median Sold Price Compared To Nearby Cities

Greenfield
+16.9%
Wilton
+12.0%
Greenfield Center
+10.0%
Malta
+7.1%
Saratoga Springs
+5.5%

Housing Supply in Saratoga Springs, NY

How many homes are available in Saratoga Springs, NY?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
220203-7.7%

Summary: The Saratoga Springs real estate market had 203 homes for sale in October 2024, a 7.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 89
+12.5%
2 3529
-17.1%
3 8175
-7.4%
4 6356
-11.1%
5+ 3334
+3.0%

Summary: The Saratoga Springs housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes decreased by 17.1%, 3 bedroom homes decreased by 7.4%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4744-6.4%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Saratoga Springs, you could pay more than the asking price. 38.6% of homes here sold above asking price last month.

Summary: A total of 44 homes were sold or pending in Saratoga Springs in October 2024, down by 6.4% month-over-month. Of the 44 sold homes, 36% were sold under asking, 25% were sold at asking, and 39% were sold over asking.

Days on Market for Saratoga Springs, NY

How long does it take to sell a home in Saratoga Springs, NY?

Average Sale Time

Oct 2023Oct 2024CHANGE
20 Days36 Days+79.1%

Summary: Homes in Saratoga Springs had an average of 36 days on market in Oct 2024, up by 79.1% compared to last year.

Breakdown of Home Sale Times

32 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Saratoga Springs are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 44 homes were sold in Saratoga Springs; 73% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

Newest Listings in Saratoga Springs, NY

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