San Clemente shows an increase in homes sold in October 2008.

Posted Nov 24, 2008 @ 1:45 am, Viewed by 553 Visitors, Read 575 Times.

An increase in sold listings in San Clemente in October may be a positive sign for this South Orange County ocean front coastal community as home buyers seem to be responding to increased affordability and moderate prices.

The San Clemente average sales price in October 2008 decreased 20 percent compared to October 2007, bringing the average price to $771,894. The number of new listings decreased 6 percent, while homes sold increased 15 percent. Meanwhile, the average market time decreased 7 percent, with average market times of 91 days vs. 98 days in 2007.
 

San
Clemente

New
Listings

Sold
Listings

Average
Sales Price

Average
DOM

Oct 2008

108

60

 $771,894

91

Oct 2007

 115

 52

 $962,123

98

Above stats are compiled from the Southern California Multiple Listing Service (SoCal MLS). Information is deemed reliable but not guaranteed.

To view San Clemente homes that have sold during the last year by price, as well as with a detailed property description, please visit San Clemente Sold Homes.

Or, for the most recent sales, you can visit San Clemente Sold Homes last 30 days.

 

The Hartanov Team, highly experienced professionals who are proficient with technology and committed to meeting your needs, offer one of the most extensive and best on-line guides for Orange County Real Estate as well as the most visited local site for San Clemente Real Estate and the surrounding beach cities coastal communities. They specialize in offering a new level of service in helping people buy and/or sell Orange County area homes, condos, Short Sales, REO Bank Owned and investment properties and 1031 exchanges.

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2 Responses to “San Clemente shows an increase in homes sold in October 2008.”

Sounds like good news (price seems to be naturally correcting itself, was it inflated the previous year?) - Also sounds like you can now get some pretty darn good deals no?

Posted 11 months ago

There are some fantastic "deals" in the newer inland area of Talega. Homes that sold new in 2005 for close to $1.2M may now be REO (Bank Owned) property selling at $800,000 or below. However, the inventory has been declining recently. In the last 90-days for REO property in Talega, 11 have sold, 6 are currently in escrow and there are 8 currently listed. However, there are currently 23 Short Sale property listings and many of those may eventually foreclose and become REO property.

Currently, over 25% of the 452 properties listed for sale in San Clemente are REO or Short Sale. Of those 118, or over 25% are in Talega. So, yes, there are some good "deals" to be had!

However, ocean front or beach close... that's another story as most of those homeowners have equity in their homes.  San Clemente is one of the most affordable ocean front communities in Orange County.

Posted 11 months ago
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