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San Marino Real Estate Market Report: December 2008

San Marino California: real estate activity for December 2008

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.

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