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 real estate market statistics for February 2009 through May 2009:

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.

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

Pasadena, California

(626)629-8439

I have never heard Leslie speak before and was surprised with her vibrant personality and down to earth style.  it’s always hard to deliver bad news to a room full of Pasadena realtors, but she did with style and ease.

It turns out that Leslie is a resident of Pasadena and has been living in our community for the last year and a half.  Pretty exciting for me since I’m hoping that I’ll run into her one day at Pete’s and will have an opportunity to pick her brain a bit. 

I will be writing a post over the next few days to share my thoughts on real estate market expectations for 2009 in Pasadena, but in the meantime, here’s what Leslie shared with the real estate community.

Personal Consumption:

American consumers have been spending more and saving less.  For the first time since 1992, personal consumption dropped.  Simply, this means that people buy less which causes employers to cut back jobs.

California is losing more jobs on average – California’s unemployment rate in August 2008 was 7.7% while United States as a whole was 6.1% in September 2008.

California Housing Permits:

New Housing Permits are down by 45.1% year to date in California – under 50,000 units compared to over 100,000 in 2007.  Builders are waiting for the existing inventory to be absorbed.

National Economy Outlook through 2009:

Read the full story on California Real Estate and Housing Outlook here.

San Marino’s real estate activity has been holding steady in the month of August.  We actuallly saw an increase in the number of San Marino homes that opened escrow, from 8 in June to 13 in July. 

The number of homes on the market in July remained at 41 with 14 new San Marino listings coming on the market.

Looking at the 12 San Marino homes that actually closed escrow in July, the sales price to listing price ratio is pretty close – 98.23% – meaning that most homes sold close to asking price.  Interestingly enough, we’re still seeing multiple offers in San Marino.  Three of the 12 homes sold OVER asking:

Both 1740 Hilliard and 1846 Lorain Road were sold after a price adjustment and being on the mrket for several months.  Once the prices were adjusted, both homes pretty quickly at full asking price.  A lot to be said for correctly pricing your home.

May 2008 to July 2008 San Marino Housing Statistics:

Data taken from ITEC (Pasadena Foothills Association MLS service)

If you are interested in beginning your search for a San Marino home, please click on the search home link here.

For weekly updates on San Marino real estate market activity, please feel free to request market analysis reports with detailed information by clicking here.  These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev                   626-627-7107           

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