San Marino Real Estate Market Update

San Marino Home Sellers and Home Buyers have different views of San Marino’s real estate market.

Every Thursday is a Broker’s Open House day in San Marino.  This is an opportunity for San Marino real estate agents to preview all the homes that were listed in San Marino for the week.  This also gives an opportunity for San Marino sellers to showcase their homes and make sure that they are well presented to potential buyers and real estate agents.

Today, San Marino had a record 7 homes for sale open for broker’s preview (2 homes were price reductions):

Address BR/BA Price Prce/Sq.Ft
2045 Sherwood Road, San Marino 3/2 $1,460,000 $803  
2070 Lorain Road, San Marino 3/2 $1,285,000 $740  
1870 Carlisle Drive, San Marino 2/1 $1,175,000 $698  
2769 Gainsborough Drive, San Marino 4/5 $2,399,000 $664  
2804 Carlaris Road, San Marino 5/3 $1,699,000 $568  
2734 Monterey Road, San Marino 4/3 $1,298,800 $566 Price Reduced
1479 Vandyke Road 3/3 $1,350,000 $546 Price Reduced

A San Marino Real Estate Market Snapshot:

San Marino Homes for Sale                47   at $649/sq. ft. on average

San Marino Homes Under Contract      26   at $572/sq. ft. on average

San Marino Homes Already Purchased by San Marino Home Buyers:

Month # of Homes Sold Price Per Sq. Ft. % of Sales Price to List Price
January-08 5 $612 101.86
February-08 6 $479 91.45
March-08 6 $668 107.03
April-08 7 $578 98.93
May-08 10 $589 102.35
June-08 11 $576 99.77
YTD 42 $582 100.51

 

Sellers, if these numbers

 do not speak to you, let

me.  You are OVERPRICING

 YOUR HOMES!!! 

 

  • The data is clear, San Marino Homes have been selling in the high $500s per sq.ft.
  • Current homes on the market are averaging almost $650 per square foot.
  • 4 out of 5 new listings this week are over $660 per square foot.
  • Inventory is INCREASING
  • San Marino’s Real Estate market absorbs approximately 7 homes per month.
  • There are 47 homes on the market for sale.
  • This means that we have more than 6.5 months of inventory!

San Marino sellers, please understand San Marino buyers are looking at hard data.  This information is being provided to them by their San Marino Realtors.

For those of you that love charts, here’re a couple from Altos Research, an independent real estate market statistics company.

Inventory of homes in San Marino

San Marino Home prices

These reports are updated weekly by Altos Research and I am offering them at no cost to my readers.  A copy of this week’s San Marino report is available by clicking here – SAN MARINO REAL ESTATE MARKET REPORT If you would like to receive this report every week as it is updated, please email me at Irina@Irina4RealEstate.com.

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