San Marino's real estate prices have always been driven by their top rated public schools, a small knit community and close proximity to Pasadena and downtown LA. As expected, San Marino real estate activity has stayed strong even in the down market and as Pasadena's real estate started picking up, San Marino housing market immedicately followed.
Inventory of homes remained pretty much the same last month, but the sales activity has picked up significantly and so did the price per square foot that home buyers are willing to pay. Take a look at the data below.
San Marino Real Estate Statistics for February through May 2009:
|Single Family Residence||Feb-09||Mar-09||Apr-09||May-09|
|Average Days on the Market||126||29||67||49|
|Average Price Per Sq. Ft.||$631||$521||$526||$585|
|Median Selling Price||$2,049,000||$1,738,000||$1,477,500||$1,649,000|
|Average Selling Price||$2,147,333||$1,738,000||$1,710,300||$1,863,057|
|Absorption Rate (# of weeks to sell current inventory at present rate of sales)||32.5||164.7||15||15|
Search all San Marino homes for sale - live feed from the Multiple Listing Service below:
For more property detail, please visit San Marino Homes for Sale post.
If you are thinking of buying or selling your San Marino home, please give us a call for a comprehensive and free consultation. We can be reached at 626-629-8439.
IRINA NETCHAEV & ASSOCIATES
Pasadena Real Estate Agents