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San Gabriel Real Estate Market Report - October 2008

San Gabriel real estate market update for October 2008

Inventory of San Gabriel homes has been pretty stable, but the number of sales has decreased over 50%. Price per sq. ft. has dropped to $322 in October from $394 in August. It takes close to 5 months to sell a San Gabriel home. Based on the current sales rate, it will take almost 38 weeks to sell the existing inventory.

Lowest priced San Gabriel home on the market in October was 706 E Mision Road at $295,000. It is a 2 bedroom and 2 bath home with 825 sq. ft.

Highest priced San Gabriel home on the market in October was 8300 Longden Avenue listed at $2,700,000. It is a 3 bedroom, 4 bath home built in 1941.

See all San Gabriel Single Family Homes for Sale:

We are seeing more foreclosures or bank "real estate owned" homes coming up on the San Gabriel market.

Search all San Gabriel Foreclosures (Bank Owned - REOs):

San Gabriel Real Estate Market Statistics for August through October 2008:

Single Family Residence	Aug-08	Sep-08	Oct-08
New Listings	23	29	23
Total Listings	68	88	87
Sales Pending	9	13	15
Homes Sold	22	21	10
Listings Expired	7	20	11
Average Days on the Market	95	70	148
Average Price Per Sq. Ft.	$394	$380	$322
Median Selling Price	$648,000	$530,000	$482,500
Average Selling Price	$660,745	$546,329	$501,778
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	13.4	18.2	37.7

Condos	Aug-08	Sep-08	Oct-08
New Listings	1	12	5
Total Listings	7	18	13
Sales Pending	1	0	2
Condos Sold	0	1	0
Listings Expired	5	6	7
Average Days on the Market	n/a	63	n/a
Average Price Per Sq. Ft.	n/a	$408	n/a
Median Selling Price	n/a		n/a
Average Selling Price	n/a	$368,000	n/a
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	10.1	78.0	n/a

Townhomes	Aug-08	Sep-08	Oct-08
New Listings	9	7	25
Total Listings	12	13	37
Sales Pending	1	8	5
Townhomes Sold	1	2	6
Listings Expired	7	7	6
Average Days on the Market	244	114	55
Average Price Per Sq. Ft.	$290	$270	$314
Median Selling Price	$439,500	$384,250	$519,000
Average Selling Price	$439,500	$384,250	$493,667
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	52.0	28.2	26.7

Data taken from ITEC (Pasadena Foothills Association MLS service)

SEARCH SAN GABRIEL HOMES FOR SALE (Single Family Residences)

SEARCH SAN GABRIEL CONDOS AND TOWNHOMES FOR SALE

For weekly updates on San Gabriel real estate market activity, please feel free to request market analysis reports with detailed information at How is the Market button on this site. These real-time real estatemarket reports are gathered and updated by Altos Research and will be emailed to you weekly with my compliments.

Posted by Irina Netchaev, Real Estate Agent

http://www.pasadenacarealestatehomes.com/008503