San Marino real estate: Homes are moving fast! (Blog)

The San Marino real estate market is looking hot this week, with homes selling within a week on average. That’s extremely good news for home sellers!

The median listing price this week is at $2,288,000, a slight dip from previous weeks but nothing to cause concern just yet. The long-range trend for prices is upward. We’ve seen increasing sales demand and fewer homes listed in San Marino, which is driving both the prices and the quick turnaround on sales.

If you’d like to get an idea of what price your San Marino real estate might bring, visit my Home Values page. Or, if you’re a buyer, search for San Marino real estate to see some current listings on the market.

There’s also a great feature called Market Map. I encourage you to check it out if you’d like to compare median prices in other areas of San Gabriel Valley.

San Marino real estate by the numbers

As of this week, properties are staying on the market an average of 7 days. Talk about inventory moving fast! That’s a huge drop from the week before, when the average number of days on the market was approximately 84. The asking price per square foot is standing at $798, which is pretty much unchanged.

San Marino’s market action index score – which measures supply and demand – is a very healthy 41.

Combined, all signs point to a hot market.

The trends are based on data from Altos Research Real-Time Real Estate numbers. Watch our Classic Pasadena Homes blog for updates on the San Marino real estate market – as well as the other markets in San Gabriel Valley -- each week.