The following is the month end data for real estate activity in San Marino for July 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||$1,500,000|
|Average List Price of all Current Listings||$1,990,143|
|July Median Sales Price||$1,840,000||$1,696,400|
|July Average Sales Price||$2,003,933||$1,851,727|
|Total Properties Currently for Sale (Inventory)||35|
|July Number of Properties Sold||18||76|
|July Average Days on Market (Solds)||49||58|
|Asking Price per Square Foot (based on New Listings)||$560||$598|
|July Sold Price per Square Foot||$619||$603|
|July Month’s Supply of Inventory||1.9||5.1|
|July Sale Price vs List Price Ratio||104.5%||101.4%|
|* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date|
July Property sales were 18, up 5.9% from 17 in July of 2011 and 80.0% higher than the 10 sales last month. July 2012 sales were at their highest level compared to July of 2011 and 2010. July YTD sales of 76 are running 5.6% ahead of last year’s year-to-date sales of 72.
The Median Sales Price in July was $1,840,000, up 47.2% from $1,250,000 in July of 2011 and up 7.0% from $1,719,250 last month. The Average Sales Price in July was $2,003,933, up 23.0% from $1,628,764 in July of 2011 and up 15.3% from $1,737,315 last month. July 2012 ASP was at highest level compared to July of 2011 and 2010.
The Total Inventory of Properties available for sale as of July was 35, down -22.2% from 45 last month and down -32.7% from 52 in July of last year. July 2012 Inventory was at the lowest level compared to July of 2011 and 2010.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The July 2012 MSI of 1.9 months was at its lowest level compared with July 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 July was 49, up 63.3% from 30 days last month and down -2.0% from 50 days in July of last year. The July 2012 DOM was at a mid range compared with July 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 July 2012 Selling Price per Square Foot of $619 was down -3.3% from $640 last month and up 11.9% from $553 in July 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 July 2012 Selling Price vs List Price of 104.5% was down from 105.6% last month and up from 100.4% in July 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 July 2012 was 17, up 6.3% from 16 last month and down -32.0% from 25 in July of last year.