San Marino CA Homes For Sale and Market Update 9.9.15
This is an update of San Marino homes for sale along with those in escrow and sales for the first eight months of 2015 with a comparison to January through August 2014.
Statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions.
San Marino is a small city(approximate population of 13,327) within the San Gabriel Valley of Los Angeles County. The zip code for the city is 91108. There are only single family homes in the city(no apartments, no condos/ townhomes). The Huntington Library, Art Collections and Botanical Gardens (www.huntington.org) is perhaps the cultural highlight of the city. Another source of pride for the city is the highly regarded San Marino Unified School District (www.smusd.us). The city’s tree-lined residential streets have some of the most beautiful homes in the area and some of Los Angeles County most expensive real estate.
There are currently 42 San Marino homes for sale ranging from $1,300,000 to $17,000,000 with another 12 in escrow. In August 2015, there were 14 mls-reported closed sales ranging from $1,575,000 to $9,150,000 with an average sales price of $2,867,500 (median sales price $2,115,000). In August 2014, there were 16 transactions ranging from $1,376,000 to $5,480,000 with an average price of $2,443,125(median $2,128,000).
For the first eight months of this year, there have been 80 mls-reported closed sales ranging from $1,105,000 to $9,100,000 with an average sales price of $2,767,499 (median $2,256,500).
They sold at 100.04% of last list price and for $861.58 per square foot on average.
In the same January through August time period in 2014, there were 87 sales ranging from $950,000 to $5,750,000 with an average price of $2,359,828(median $2,150,000). They sold at 105.66% of last list price and for $846.67 per square foot on average.
Inventory of San Marino homes for sale continues to increase. A year ago when gathering data for this report, there was 25 homes on the market for sale versus the 42 currently available. The details and nuances of any market always come into play. The average price per square foot is still quite impressive versus other San Gabriel Valley communities. While the sale to list percentage has decreased from a year ago, I believe that is natural based on the increased inventory. So far this year multiple offers and sales over list price are still evident with 60% of 2015 year-to-date mls-reported sales at or above list price. This is occurring in all price ranges. Whether you are a prospective buyer or a homeowner thinking of selling and want more information contact me at 818.516.4393 cell, let’s discuss what’s important to you.
Published: September 9, 2015
San Marino CA Homes For Sale and Market Update 9.9.15
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