San Marino Real Estate Market Analysis for May 2009

The biggest change over the last several months in San Marino is the number of homes being sold and going into escrow. Interestingly enough, home inventory is about the same. San Marino gets a little more than a dozen new home listings each month. with the inventory staying close to 40 over all.

Real estate market activity has picked up significantly in Pasadena and surrounding neighborhoods and San Marino is also seeing an upswing in activity. Price per square foot has gone up to the high $500s in May and that is based on 14 closed sales.

San Marino’s Market Action Index is still in the home buyer’s zone, but is slowly climbing back up:

san-marino-market-action-index-as-of-june-2009

San Marino real estate market statistics for February 2009 through May 2009:

Single Family Residence	Feb-09	Mar-09	Apr-09	May-09
New Listings	13	18	14	15
Total Listings	30	38	35	39
Sales Pending	4	9	12	16
Homes Sold	4	1	10	14
Listings Expired	1	6	4	5
Average Days on the Market	126	29	67	49
Average Price Per Sq. Ft.	$631	$521	$526	$585
Median Selling Price	$2,049,000	$1,738,000	$1,477,500	$1,649,000
Average Selling Price	$2,147,333	$1,738,000	$1,710,300	$1,863,057
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	32.5	164.7	15	15

Search all San Marino homes for sale – live feed from the Multiple Listing Service below:

For more property detail, please visit San Marino Homes for Sale post.

READ MORE:

South Pasadena City Guide

Altadena Foreclosures List

Burbank Foreclosure Home List

Pasadena Foreclosure Home List

South Pasadena Foreclosure Home List

If you are thinking of buying or selling your San Marino home, please give us a call for a comprehensive and free consultation. We can be reached at 626-204-3340.