Saratoga's 'cheap' $1.9M townhouse

Among the 15 active condos and townhomes in Saratoga with two or three bedrooms currently on the market, 11345 Cottonwood Place #042-09 Plan 2 ranks seventh by asking price. Six peers are listed below it. That is the honest like-for-like picture before anything else is said.

The signal that flagged this home — ninth percentile among all 78 active Saratoga listings — is technically correct, but it is a whole-market number that mixes condos and townhomes with single-family houses. Against houses, a $1.9M townhouse looks inexpensive. Against its actual peers, it is not a bottom-of-market outlier.

How it compares with homes like it

The peer rule used here: same type (condos and townhomes), within one bedroom, size within 25%, sales in the last 12 months, nearest radius that produces at least four sales — which in this case extended to the whole Saratoga market.

That search turned up 27 recorded sales. Their median price was $1,855,888 and their median price per square foot was $954. The subject asks $1,091 per square foot, which is above the peer median on a per-foot basis. On absolute price it is above the peer median as well.

Among active listings, the closest comparable is 11325 Cottonwood Place #040-09 Plan 2 — the same floor plan, the same 1,741 square feet, three beds — asking $1,899,043, or $1,091 per square foot. Another Plan 2 at 11220 Cottonwood Place asks $1,908,335 ($1,096 per square foot) and a third at 11145 Maple Place asks $1,912,853 ($1,099 per square foot). The subject is the least expensive of those three near-identical units by $1,101 to $12,709.

Six active listings in the peer group are priced lower, ranging from $1,199,000 for a 1,386-square-foot unit at 20760 4th Street down to a 1,562-square-foot unit at $1,672,955. Those are smaller homes, and most sit below 1,600 square feet. On a per-square-foot basis, the subject's $1,091 is at or above every one of the 15 active peers; the median ask per square foot across the peer listings is $1,099.

Why does the subject sit near the bottom of the whole-market active list? Size. At 1,741 square feet with no lot, it is a fraction of the median Saratoga single-family home. In a market where the broad active inventory has a median ask of $3,923,500, anything under $2M reads as low-percentile. That is a type comparison, not a size-adjusted one.

Comparable sales

Eight of the 27 peer sales are shown below. All are condos or townhomes, three bedrooms, 1,741–1,828 square feet, sold within the last 12 months in Saratoga. Distance data was not available for these sales.

The eight Plan 2 and Plan 3 sales shown range from $1,867,357 to $2,234,548. The two most recent Plan 2 sales at the same 1,741 square feet — 10875 Elm Circle ($1,867,357, October 2025) and 11040 Maple Place ($1,869,379, September 2026) — closed just below the current ask. The two March 2026 Plan 2 sales closed above it, at $1,980,521 and $1,999,531.

Condos and townhomes across Saratoga

There are 18 condos and townhomes actively listed in Saratoga right now, with a median asking price of $1,986,633. Over the last 180 days, 28 condos and townhomes sold at a median price of $1,265,000 and a median of $862 per square foot. The gap between the median closed price and the median current ask is notable; it reflects a mix of price points in recent sales that extends further down-market than most of the current active inventory.

How the Saratoga market is doing

Across all property types, 136 Saratoga homes sold in the last 180 days at a median price of $4,150,000 and a median of $1,534 per square foot. The median sold size was 2,681 square feet on a 13,171-square-foot lot. A year earlier, over the same calendar window, 153 sales closed at a median of $4,100,000 ($1,481 per square foot). Volume is down roughly 11 percent year over year; the median price is up roughly 1.2 percent. The current active inventory spans $770,000 to $17,250,000 across 78 listings. These figures cover all property types and are not directly comparable to the townhouse figures above.

What it would cost a month

At the $1,900,144 list price, the national 30-year average mortgage rate as of October 8, 2026 was 7.4 percent, according to the Freddie Mac Primary Mortgage Market Survey. The figure below covers principal and interest only — taxes, insurance, and any HOA dues are separate.

Tim McMullen · CA DRE #02016832
[email protected] · (415) 691-9272