Pasadena CA Real Estate

San Marino real estate housing status has remained pretty stable in August 2008.  We did see an increased number of homes listed by real estate agents that have expired – meaning the sellers decided to take these homes off the real estate market.  Both June and July of this year had an average of 4 San Marino homes expire, but in August we saw 11 homes that were taken off the market.

The number of San Marino homes that were newly listed is about the same as in previous months.  The number of San Marino home sales for August is also running pretty close as the rest of the summer months.  The chart below gives the specific for the last three months.

Least expensive San Marino home in August was $899,999.

Most expensive San Marino home listing in August was selling for $8,900,000.

Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the San Marino real estate market.

 

Read More:  Buyers’ Market or Sellers’ Market – understanding the Market Action Index

Data of San Marino homes for sale and San Marino solds was taken directly from ITEC (Pasadena Foothill MLS)

READ MORE:  San Marino Real Estate Market Report for September 2008

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Posted by Irina Netchaev, San Marino Luxury Home Real Estate Specialist

Related Posts:

• San Marino California Real Estate Market Housing Report – September 2008
• San Marino Real Estate Market Report – May 2008 to July 2008
• San Marino Real Estate Market Statistics for October 2008
• San Marino Luxury Real Estate – August Million Dollar Sales
• San Marino Real Estate Update for November