Total Units Sold: 9
Detached: 8
Condo/Lofts: 1
Days on Market: 70
Detached: 77
Condo/Loft: 11
Average Sales Price: $286,000
Detached: $269,250
Condo/Loft: $420,000
Median Sales Price: $225,000
Detached: $250,000
Condo Loft: 420,000
Average Sale Price/List Price: 93%
Detached: 91%
Condo/Loft: 100%
Sales increase 22% in January from December of 2008. None of the sales in January were REO, however 20% were short sales.
In January, there were 133 properties for sale. This represents an inventory of 18 months based on the current rate of sales over the last 6 months. These absorption rates continue to be encouraging when compared to many other parts of the country, some of which have over 2 years of inventory.
In January 18 new homes came on the market and 6 new condos. During this time, 6 homes went into pending (0 condos) compared to 7 going pending in December (only 5 have closed.)
This overview of the San Marco real estate market is based on information provided by the MLS for homes that went under contract in the last couple of months and closed in January. More details can be provided if needed with regard to current activity as well as within the specific neighborhood of San Marco.
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