As we kick of a new year, we’re always curious to see how our real estate marketing is looking. In San Marino, it’s looking fairly healthy, with the market favoring sellers. Prices are dipping, but they are expected to level off and could even start rising if the current trends hold. Based on the Altos Research Real-Time Real Estate data, median home listing prices this week are at $1.447 million in San Marino.
If you’ve considered buying a home in the San Marino area, this could be your best time to do it. Within weeks, we could see prices rise. So, move now or risk paying more when you are ready to buy.
If you're thinking about selling a house, you should get an idea now of what kind of home value you might expect in today's market. Visit our Home Values page on Classic Pasadena Homes to learn more.
San Marino’s Market Action Index Score – which measures sales vs inventory and determines whether a market favors sellers or buyers – is 33.6, well above the 30 score for a seller’s market. In a seller’s market, it is the home seller who has more leverage for negotiating pricing, usually due to more competition among buyers and/or fewer houses on the market. Unless we see a big turnaround in the market, San Marino will continue as a seller’s market for some time to come.
To read more San Marino real estate market numbers, visit our website blog.