How's the Real estate market for San Marino Homes for the week ending 10/26/15?
San Marino Real Estate is a Seller’s Market. Here's why:
- 4.25 months supply of homes trending (6 months is a balanced market)
- 46 homes available (6 new this week!)
The 6 month numbers are as follows:
Average Sale Price: $2,620,508
Median Sale Price: $2,200,000
Average Days on Market: 55
Average Sale Price to List Price Ratio: 100.28%
Of Special Note this week: Summer has come and gone, which is usually the most aggressive market for San Marino homes for sale, and many numbers reflect little shift since earlier in the year. There is much hype about a “collapsing” market or “it’s now a buyers market”, but the numbers are not showing that yet. Little hints of such have been evident since early in the year, but nothing so dramatic has occurred. The biggest change is from last year, but not within this year. This is evidenced by the numbers above: still selling at about list price, both average and median sale price just off a bit, and “Days on Market” is up, although none are “catastrophic” as the chatter wants to portray. However, all of this does indicate a further trend toward a balanced market and while properly priced homes are still selling with multiple offers, the quantity of those offers is down from earlier 2015, and the number of homes on the market is way up from last year but only up by 10 since May of this year. Before the dye is cast, let’s see how the rest of this year progresses. If you are interested in finding out what your home might sell for, or would like to find out how I work in helping buyers in a competitive market, please call me at 626-533-3929 for an appointment to review your situation.
That’s the market for San Marino homes for sale for the week ending 10/26/15.