How's the Real estate market for San Marino Homes for sale the week of 11/14/18?
San Marino Real Estate is a Seller’s Market. Here's why:
· 4.8 months supply of homes trending! (6 months is a balanced market)
· 51 Homes available (3 New this week)
The 6 month numbers are as follows:
Average Sale Price: $2,724,169
Median Sale Price: $2,138,000
Average Days on Market: 61.34
Average Sale Price to List Price Ratio: 99.01%
Looking a bit deeper: The seller’s market has appeared to return to San Marino! In June of this year it was clearly a buyer’s market, however, contrary to other areas of the San Gabriel Valley that show a moderate easing, perhaps San Marino took such a dive earlier this year that buyer’s finally caught on and started returning to the market. Supply of homes has dropped, average sale price has increased, as has median sale price and days on market has dropped! The only indicator of a still “mild” market is that the average list price to sale price ratio has dropped slightly to 99.01%. As of today, 42% of the homes sold at or above list price, which is also down, so this reflects the past "buyer’s market" reality, and could indicate that buyer’s did indeed return to the market and have started purchasing again San Marino! With current homes on the market having an average days on market of over 3 months, let’s see where it is in about another month, just before the Christmas Holiday – in the meantime, have a meaningful Thanksgiving and take a run at Black Friday!!
That’s the market for San Marino homes for sale for the week of 11/14/18.