San Gabriel real estate market has been holding pretty steady without any major variances over the last few months. The least expensive home on the market in San Gabriel right now is $299,000 and the most expensive home for sale is $2,195,000.
Interestingly, the number of homes on the market has dropped for both Single Family Residences (SFR) and Townhomes. This drop is due to more buyers opening escrows in July for SFR and more properties being taken off the market for Townhomes - a possible indication of foreclosures and unsuccessful short sales.
San Gabriel Real Estate Housing Data:
|Single Family Residence||May-08||Jun-08||Jul-08|
|Average Days on the Market||79||98||79|
|Average Price Per Sq. Ft.||$399||$358||$354|
|Average Selling Price||$578,188||$580,783||$595,932|
|Absorption Rate (# of weeks to sell current inventory at present rate of sales)||24.6||12.3|
|Average Days on the Market||144||54||301|
|Average Price Per Sq. Ft.||$295||$325||$341|
|Average Selling Price||$336,500||$588,000||$438,667|
|Absorption Rate (# of weeks to sell current inventory at present rate of sales)||45.5||47.7|
|Average Days on the Market||18||n/a||20|
|Average Price Per Sq. Ft.||$269||n/a||$269|
|Average Selling Price||$677,000||n/a||$355,000|
|Absorption Rate (# of weeks to sell current inventory at present rate of sales)||60.7||N/A|
Data taken from ITEC (Pasadena Foothills Association MLS service)
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Posted by Irina Netchaev 626-627-7107