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San Marino real estate: Prices up, but market is cooling

Market conditions are cooling for San Marino real estate, but prices have continued to rise for now.

Even though the San Marino real estate market is cooling, it’s not all bad news for sellers. This week, the median list price was at $2,227,500, a huge increase from last week’s median of $1,691,500. The market continues to cool mainly because more supply is coming on the market, and may soon exceed sales demand. Prices are going up, but we cannot be sure how long that trend will last in these market conditions.

If you’d like to get an idea of what price your San Marino real estate might bring, visit our Home Values page.

San Marino real estate trends

As of this week, properties are staying on the market an average of 115 days. The asking price per square foot is standing at $784.

The trends are based on data from Altos Research Real-Time Real Estate numbers. To see a more complete breakdown of market numbers for San Marino real estate and the rest of San Gabriel Valley, read my article “Southern Ca homes for sale: A market outlook.”

The numbers tend to fluctuate from week to week, so the market conditions reported here reflect only our current trends.  Watch our Classic Pasadena Homes blog for updates on the San Marino real estate market each week.

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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