December is always a slow month for real estate, but San Marino California pretty much took the entire month off. There were only 2 San Marino homes listed for sale in December. And, only 22 homes, overall, available for sale.
The number of closed sales in San Marino has been pretty stable with a little under 10 homes selling each month for the last six months. December was no exception - 9 home sales.
Only 3 homes though, went into escrow. With banks taking time off for the holidays, we will have a very slow sales month this January.
The lowest priced San Marino home is listed at $1,050,876 and is located at 465 Winthrop Road. This home is 3 bedrooms and 2 baths with 1,480 sq. ft.
The highest priced San Marino home is still the $7.9 million Old Mill Road estate. This San Marino luxury property sits on over 82,000 sq. ft. lot and has 8 bedrooms and 7 baths.
READ MORE: San Marino Real Estate Housing Update for November 2008
Also, for my data loving readers, please visit San Marino real estate blog for a detailed analysis of the San Marino real estate market over the last five years: San Marino Housing Analysis - Five Years in Review
San Marino Real Estate Statistics for October through December 2008:
| Single Family Residence |
Oct-08 | Nov-08 | Dec-08 |
| New Listings |
12 | 7 | 2 |
| Total Listings |
33 | 31 | 22 |
| Sales Pending |
8 | 4 | 3 |
| Homes Sold | 7 | 7 | 9 |
| Listings Expired |
3 | 5 | 12 |
| Average Days on the Market |
47 | 38 | 44 |
| Average Price Per Sq. Ft. |
$578 | $597 | $576 |
| Median Selling Price |
$1,480,000 | $1,220,000 | $1,679,000 |
| Average Selling Price |
$1,681,478 | $1,230,714 | $1,877,889 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) |
20.4 | 19.2 | 10.6 |
Data of San Marino homes for sale and San Marino solds was taken directly from
ITEC (Pasadena
Foothill MLS)
Ready to start your San Marino home search, see all available listings in San Marino California:
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Posted by Irina Netchaev, San Marino Luxury Home
Real Estate Specialist
