San Marino real estate housing status has remained pretty stable in August 2008. We did see an increased number of homes listed by real estate agents that have expired - meaning the sellers decided to take these homes off the real estate market. Both June and July of this year had an average of 4 San Marino homes expire, but in August we saw 11 homes that were taken off the market.
The number of San Marino homes that were newly listed is about the same as in previous months. The number of San Marino home sales for August is also running pretty close as the rest of the summer months. The chart below gives the specific for the last three months.
Least expensive San Marino home in August was $899,999.
Most expensive San Marino home listing in August was selling for $8,900,000.
Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the San Marino real estate market.
| Single Family Residence | Jun-08 | Jul-08 | Aug-08 |
| New Listings | 13 | 14 | 12 |
| Total Listings | 41 | 41 | 31 |
| Sales Pending | 8 | 13 | 8 |
| Homes Sold | 15 | 12 | 15 |
| Listings Expired | 4 | 4 | 11 |
| Average Days on the Market | 77 | 60 | 51 |
| Average Price Per Sq. Ft. | $552 | $601 | $589 |
| Average Selling Price | $1,638,045 | $1,461,150 | $1,416,600 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 17.8 | 11.8 | 11.2 |
Data of San Marino homes for sale and San Marino solds was taken directly from ITEC (Pasadena Foothill MLS)
READ MORE: San Marino Real Estate Market Report for September 2008
FIND SAN MARINO HOMES FOR SALE
Posted by Irina Netchaev, San Marino Luxury Home Real Estate Specialist
READ MORE: Pasadena real estate update 2012 – see luxury home sales.
Irina is a Top Realtor and the founder and President of Pasadena Views Real Estate Team™. She is available to assist you in all of your Real Estate transactions. Email or call her today at (626)629-8439.
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