The following is the month end data for real estate activity in San Marino for June 2012. For any questions, please feel free to contact me through my main website, or click here to browse San Marino homes for sale.
|Market Profile & Trends Overview||Month||LM||L3M||PYM||LY||YTD||PriorYTD||PriorYear|
|Median List Price of all Current Listings||$1,549,000|
|Average List Price of all Current Listings||$2,056,269|
|June Median Sales Price||$1,813,500||$1,625,000|
|June Average Sales Price||$1,911,879||$1,858,836|
|Total Properties Currently for Sale (Inventory)||26|
|June Number of Properties Sold||7||46|
|June Average Days on Market (Solds)||20||63|
|Asking Price per Square Foot (based on New Listings)||$577||$584|
|June Sold Price per Square Foot||$624||$600|
|June Month’s Supply of Inventory||3.7||4.3|
|June Sale Price vs List Price Ratio||108.0%||101.1%|
|* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date|
June Property sales were 7, down -12.5% from 8 in June of 2011 and -50.0% lower than the 14 sales last month. June 2012 sales were at their lowest level compared to June of 2011 and 2010. June YTD sales of 46 are running equal to last year’s year-to-date sales of 46.
The Median Sales Price in June was $1,813,500, up 42.8% from $1,270,000 in June of 2011 and up 21.1% from $1,497,500 last month. The Average Sales Price in June was $1,911,879, up 4.6% from $1,828,625 in June of 2011 and up 8.5% from $1,761,736 last month. June 2012 ASP was at highest level compared to June of 2011 and 2010.
The Total Inventory of Properties available for sale as of June was 26, down -13.3% from 30 last month and down -16.1% from 31 in June of last year. June 2012 Inventory was at the lowest level compared to June of 2011 and 2010.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The June 2012 MSI of 3.7 months was at a mid range compared with June of 2011 and 2010.
The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for June was 20, down -37.5% from 32 days last month and down -72.6% from 73 days in June of last year. The June 2012 DOM was at its lowest level compared with June of 2011 and 2010.
Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The June 2012 Selling Price per Square Foot of $624 was up 4.3% from $598 last month and up 10.2% from $566 in June of last year.
Selling Price vs Listing Price
The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The June 2012 Selling Price vs List Price of 108.0% was up from 101.3% last month and up from 99.3% in June of last year.
Inventory / New Listings / Sales
This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in June 2012 was 9, down -52.6% from 19 last month and down -25.0% from 12 in June of last year.