Our San Gabriel Valley real estate report comparing April 2013 to April 2012 is now available. An overview of San Gabriel Valley real estate shows a 28.1 percent average increase in the number of homes sold in April as compared to the year before. That’s a slight drop from March’s jump of 37.9 percent over the previous year but still a healthy gain.
Overall, April’s numbers contained some good news, but it fell short of March’s performance.
San Gabriel Valley real estate: By the numbers
On the whole, home sales prices increased 14.4 percent for the month of April between 2012 and 2013. That’s a spike even from March’s numbers, which indicated a 13.3 percent jump.
San Marino saw the biggest price increases, with prices going up an average of 37.9 percent over April 2012. In March 2013, San Marino had 50 percent fewer sales than the previous year, but in April we see 50 percent more sales, busting the city out of that trend. Although the number of listings are done, the trends are looking very positive for San Marino.
South Pasadena saw a jump of 35 percent in prices, and it’s the only area in San Gabriel Valley real estate to show no change in the number of listings between April 2012 and April 2013. Its sales are down 4.5 percent, however.
Northwest Pasadena, however, saw a decline of 21.4 percent in prices. While this area saw its number of home sales double, it also had significantly fewer home listings than in April 2012, so the statistics are a mixed bag.
It’s important to bear in mind that these numbers reflect only a one-month period, as compared to the same one-month period of the previous year, a limited picture of our markets. We’ll know more once we can compare the entire spring season this year against spring 2012.
See news on Realtor.com for the latest in national real estate trends. Visit our How’s The Market? page to see the full comparison reports for March and April for our San Gabriel Valley real estate markets.