Saratoga Springs, UT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Saratoga Springs, UT Real Estate Data


Saratoga Springs Housing Market Information

With 25,407 people, 5,264 houses or apartments, and a median cost of homes of $290,482, Saratoga Springs real estate prices are well above average cost compared to national prices.

Saratoga Springs is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Saratoga Springs than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Saratoga Springs. Owner-occupied housing accounts for 80.56% of Saratoga Springs's homes, and 62.50% have either three or four bedrooms, which is average sized relative to America.

Saratoga Springs homes and real estate are some of the newest in America. 89.90% of Saratoga Springs's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Saratoga Springs real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 7.08%), and between 1940-1969 ( 2.23%).

Saratoga Springs Home Appreciation Rates

Real estate appreciation rates in Saratoga Springs's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.24% during the period.

Appreciation rates are so strong in Saratoga Springs that despite a nationwide downturn in the housing market, Saratoga Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Saratoga Springs appreciation rates continue to be some of the highest in America, at 5.83%, which is higher than appreciation rates in 71.46% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Saratoga Springs. Saratoga Springs appreciation rates in the latest quarter were at 0.75%, which equates to an annual appreciation rate of 3.03%.

Relative to Utah, our data show that Saratoga Springs's latest annual appreciation rate is lower than 50% of the other cities and towns in Utah.

Average Home Values

 

Median Home Value:
$290,482

Saratoga Springs, UT HOME PRICES

Value Range
> $1,197,000 0.6
$897,001 - $1,197,000 1.1
$598,001 - $897,000 2.5
$479,001 - $598,000 5.3
$359,001 - $479,000 18.9
$239,001 - $359,000 48.4
$119,001 - $239,000 21.1
$60,001 - $119,000 0.4
$0 - $60,000 1.5

High for UT
Very High for Nation

Value Relative to Nation Value Relative to State
16.9283956404547 28.1879194630872

Number Of Homes And Apartments:
5,264

Rent & Ownership

 

Average Market Rent:
$1,607 / per month

Homeownership Rate

Homeownership
Owners 80.56
Renters 19.44
Vacant 2.99

Housing Market Details

 

Age of Homes

AGE OF Saratoga Springs HOMES
2000 or Newer 89.9
1970 - 1999 7.1
1940 - 1969 2.2
1939 or Older 0.8

Types of Homes

TYPE OF Saratoga Springs HOMES
Single-Family 80.4
Townhomes 7.0
Small Apt. Buildings 1.7
Apt. Complexes 10.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Saratoga Springs HOMES
No Bedroom 0.00
1 Bedroom 0.88
2 Bedrooms 3.41
3 Bedrooms 37.45
4 Bedrooms 25.05
5 or more bedrooms 33.21

Saratoga Springs Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
UT*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
45.20% 2.19% 4 5
* 10 is highest

Popular Neighborhoods in Saratoga Springs

Zip Codes in Saratoga Springs, UT