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San Marino California - Housing and Real Estate Report for March 2009

Interested to see how San Marino real estate is doing in comparison to Pasadena real estate? Take a look at March 2009 real estate analysis and housing report.

San Marino California is a bit of a "humpty dumpty" - up again and then down again! What's going on?

Last month, San Marino real estate saw more inventory, but home sales prices and price per square foot dropped to the low $500s. Of course, this has to do with the fact that there was only 1 sale in the month of March. Just one home sold in a neighborhood with over 4,400 properties!

I also find it fascinating to see that the median price of San Marino homes in 2009 year to date is way higher, yes... I said higher, than in 2008. Take a look at the graph below:

San Marino 2008 vs 2009

April is going to be much more telling since there are 9 San Marino homes in escrow right now. Once these homes officially close escrow, we will see whether or not San Marino's real estate market is in step with Pasadena real estate and South Pasadena real estate.

San Marino is also in the process of voting for Measure E, the parcel tax initiative to support San Marino schools during the California budget crisis. If you are interested in buying a San Marino home, you might want to learn more about Measure E.

San Marino Real Estate statistics for January through March 2009:

Single Family Residence	Jan-09	Feb-09	Mar-09
New Listings	9	13	18
Total Listings	24	30	38
Sales Pending	4	4	9
Homes Sold	3	4	1
Listings Expired	6	1	6
Average Days on the Market	43	126	29
Average Price Per Sq. Ft.	$513	$631	$521
Median Selling Price	$1,780,000	$2,049,000	$1,738,000
Average Selling Price	$1,736,667	$2,147,333	$1,738,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	34.7	32.5	164.7

Let's take a look at Altos Research and their analysis of San Marino real estate as of today April 24, 2009:

If you are interested to see San Marino homes for sale, all available San Marino properties are shown below:

To see San Marino property details, please visit San Marino homes for sale.

If you are thinking of buying a San Marino home or are interested in looking at neighboring Pasadena property, please give us a call for a comprehensive and free consultation. We can be reached at 626-204-3340.