San Marino Real Estate Market and Housing Report for January 2009

San Marino’s home sales were slow in January with only 3 closed sales. The inventory remains pretty stable at 24 luxury San Marino homes available for sale with 9 new listings coming on the market in January.

Even though, the price per square foot for closed sales is at $513, San Marino home sellers are still hoping to sell their estates in the $600 per sq. ft. range based on the new home pricing.

Read More: San Marino Luxury Sales for December 2008
The one bank owned home in St. Albans finally went under contract yesterday and no more foreclosures are in sight.

Time will tell if the San Marino real estate market can sustain its exclusive prices.

Here’s what the San Marino Statistics for the last three months looked like – November 2008 through January 2009:

Single Family Residence Nov-08 Dec-08 Jan-09
New Listings 7 2 9
Total Listings 31 22 24
Sales Pending 4 3 4
Homes Sold 7 9 3
Listings Expired 5 12 6
Average Days on the Market 38 44 43
Average Price Per Sq. Ft. $597 $576 $513
Median Selling Price $1,220,000 $1,679,000 $1,780,000
Average Selling Price $1,230,714 $1,877,889 $1,736,667
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 19.2 10.6 34.7

Data above compiled from ITEC (Pasadena Foothill Association of Realtors and Multiple Listing Service)

Read More: San Marino real estate statistics for December 2008

San Marino Real Estate – Five Years in Review

Here’s a list of all San Marino luxury homes for sale for your review:

SUBSCRIBE TO WEEKLY SAN MARINO REAL ESTATE MARKET REPORT BY THE PREMIER REAL ESTATE REPORTING ANALYSIS FIRM, ALTOS RESEARCH

FIND SAN MARINO HOMES FOR SALE

Posted by Irina Netchaev, San Marino Luxury Home Real Estate Specialist

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One Response to San Marino Real Estate Market and Housing Report for January 2009
  1. […] If you are a regular reader of this San Marino real estate blog, you know that I provide monthly real estate statistics for San Marino California. […]

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