San Gabriel Real Estate Market Report – May 2008 to July 2008
San Gabriel real estate market has been holding pretty steady without any major variances over the last few months. The least expensive home on the market in San Gabriel right now is $299,000 and the most expensive home for sale is $2,195,000.
Interestingly, the number of homes on the market has dropped for both Single Family Residences (SFR) and Townhomes. This drop is due to more buyers opening escrows in July for SFR and more properties being taken off the market for Townhomes – a possible indication of foreclosures and unsuccessful short sales.
San Gabriel Real Estate Housing Data:
| Single Family Residence | May-08 | Jun-08 | Jul-08 |
| New Listings | 24 | 18 | 15 |
| Total Listings | 79 | 91 | 68 |
| Sales Pending | 6 | 13 | 22 |
| Homes Sold | 16 | 24 | 22 |
| Listings Expired | 15 | 9 | 12 |
| Average Days on the Market | 79 | 98 | 79 |
| Average Price Per Sq. Ft. | $399 | $358 | $354 |
| Average Selling Price | $578,188 | $580,783 | $595,932 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 24.6 | 12.3 | |
| Condos | May-08 | Jun-08 | Jul-08 |
| New Listings | 4 | 6 | 5 |
| Total Listings | 19 | 21 | 11 |
| Sales Pending | 0 | 0 | 1 |
| Condos Sold | 2 | 1 | 3 |
| Listings Expired | 3 | 1 | 2 |
| Average Days on the Market | 144 | 54 | 301 |
| Average Price Per Sq. Ft. | $295 | $325 | $341 |
| Average Selling Price | $336,500 | $588,000 | $438,667 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 45.5 | 47.7 | |
| Townhomes | May-08 | Jun-08 | Jul-08 |
| New Listings | 3 | 3 | 1 |
| Total Listings | 9 | 14 | 7 |
| Sales Pending | 1 | 1 | 1 |
| Townhomes Sold | 1 | 0 | 1 |
| Listings Expired | 5 | 5 | 4 |
| Average Days on the Market | 18 | n/a | 20 |
| Average Price Per Sq. Ft. | $269 | n/a | $269 |
| Average Selling Price | $677,000 | n/a | $355,000 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 60.7 | N/A |
Data taken from ITEC (Pasadena Foothills Association MLS service)
If you are interested in beginning your search for a San Gabriel home, please click on the search home link here.
For weekly updates on San Gabriel real estate market activity, please feel free to request market analysis reports with detailed information by clicking here. These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.
Posted by Irina Netchaev 626-627-7107
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The San Gabriel Real Estate Market Report – May 2008 to July 2008 by Pasadena California Real Estate Market Resource, unless otherwise expressly stated, is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License.
Posted: August 19th, 2008 under Real Estate Market Reports.
Tags: absorption rate, housing report, san gabriel home listings, san gabriel property, single family residence
About the Author: Irina Netchaev
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