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San Gabriel Real Estate Market Report – May 2008 to July 2008

San Gabriel Real Estate Market Report – May 2008 to July 2008

San Gabriel real estate market has been holding pretty steady without any major variances over the last few months. The least expensive home on the market in San Gabriel right now is $299,000 and the most expensive home for sale is $2,195,000.

Interestingly, the number of homes on the market has dropped for both Single Family Residences (SFR) and Townhomes. This drop is due to more buyers opening escrows in July for SFR and more properties being taken off the market for Townhomes – a possible indication of foreclosures and unsuccessful short sales.

San Gabriel Real Estate Housing Data:

Single Family Residence May-08 Jun-08 Jul-08
New Listings 24 18 15
Total Listings 79 91 68
Sales Pending 6 13 22
Homes Sold 16 24 22
Listings Expired 15 9 12
Average Days on the Market 79 98 79
Average Price Per Sq. Ft. $399 $358 $354
Average Selling Price $578,188 $580,783 $595,932
Absorption Rate (# of weeks to sell current inventory at present rate of sales)   24.6 12.3
       
Condos May-08 Jun-08 Jul-08
New Listings 4 6 5
Total Listings 19 21 11
Sales Pending 0 0 1
Condos Sold 2 1 3
Listings Expired 3 1 2
Average Days on the Market 144 54 301
Average Price Per Sq. Ft. $295 $325 $341
Average Selling Price $336,500 $588,000 $438,667
Absorption Rate (# of weeks to sell current inventory at present rate of sales)   45.5 47.7
       
Townhomes May-08 Jun-08 Jul-08
New Listings 3 3 1
Total Listings 9 14 7
Sales Pending 1 1 1
Townhomes Sold 1 0 1
Listings Expired 5 5 4
Average Days on the Market 18 n/a 20
Average Price Per Sq. Ft. $269 n/a $269
Average Selling Price $677,000 n/a $355,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)   60.7 N/A

Data taken from ITEC (Pasadena Foothills Association MLS service)

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

For weekly updates on San Gabriel 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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Posted on August 19th, 2008
Posted by: Irina Netchaev

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