San Clemente Foreclosure Update
Posted on November 06, 2008 by Matt.
As of early November, San Clemente real estate for sale included approximately 97 total foreclosures and short-sales, representing 17.5% of the current properties for sale. The total number of San Clemente foreclosures as of November represents a decrease of about 7.5% as compared to our previous update in September. This is good news as this decrease represents another indicator we are working towards the bottom of the cycle. As we near the bottom of the cycle, price declines begin to slow before bottoming out and the great deals may begin to dissapear.
San Clemente foreclosures currently range in price from $189,900 for a 560 square foot condo in Rancho San Clemente to $1,730,000 for a 5,633 square foot estate in Viscaya Talega. The average price for a foreclosure is currently $653,763 with an average price per square foot of $306. In our last analysis of the foreclosure and short-sale market, the average price per square foot was $308 or 0.6% higher. For Talega real estate, the newest development of San Clemente, the average price for a foreclosure is $754,415 with an average square footage of 2,667. This results in an average price per square foot of $282 for Talega foreclosures or short-sales.
In terms of the concentration of San Clemente foreclosures, Talega has the most at 34 or approximately 35% of the foreclosure and short-sale market. Other areas of high concentration include North San Clemente and Rancho San Clemente with 19% and 18% of the San Clemente foreclosure and short-sale market respectively. Foreclosures west of Interstate 5 closer to the coast represent 9.3% of the total foreclosures while east of the 5 represents 90.7%.
For more information on San Clemente foreclosures, please explore our website or contact us for a free consultation.
Go back to blog homepage
