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:
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Posted by Irina Netchaev, San Marino Luxury Home Real Estate Specialist
Posted: February 13th, 2009 under Market Update, Real Estate Trends.
Tags: housing report, Luxury Real Estate, Market Update, San Marino Real Estate
About the Author: Irina Netchaev
- Author's website: http://www.pasadenaviews.com
- More posts by irina
- Email the author
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