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Blog: San Marino Housing Market May be Cooling

This week's trends for the San Marino housing market are showing a cooler outlook, although the median list price has held steady so far.

The housing market is San Marino is starting to cool, based on this week’s numbers from Altos Research Real-Time Real Estate numbers. This week’s trends show that more supply is coming on the market relative to the sales demand. However, prices are continuing to move upward.

Typically, a Market Action Index score of at least 30 is needed to be considered a seller’s market. San Marino is at 34.8, but it’s trending downward, and conditions are beginning to favor buyers.

The median listing price this week is holding steady, at $1.691 million. The asking price per square foot is at $678, and the average length of time a property is on the market is 108 days.

The numbers tend to fluctuate from week to week, so the market conditions reported here reflect only our current trends. To see a more complete breakdown of market numbers for San Marino and the rest of San Gabriel Valley, read my article “Southern Ca homes for sale: A market outlook.”

And, if you're considering selling your home (no matter which community you live in), I encourage you to visit my Home Values page to get a better idea about how your property might fare on the market.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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