San Clemente Foreclosures & Short-Sales Analysis
Currently there are 105 short-sale and foreclosure properties on the market for San Clemente real estate, or approximately 15% of the current homes listed for sale are of this distressed nature. Please note this number does not include all the deliquency notices that lenders have filed with the county court for San Clemente homeowners who have fallen behind on their monthly payments and may be in a short-sale or foreclosure situation soon. Below you will find a more in depth analysis of the San Clemente foreclosure and short-sale real estate as well as the areas in which it is most concentrated.
First, the average listing price for these distressed properties is currently $707,331. The lowest price is $144,900 for a one bedroom San Clemente condo to $1,699,000 for a 3,719 square foot home in Southwest San Clemente’s neighborhood of Cyprus Cove. The average square footage of San Clemente foreclosure and short-sale real estate currently for sale is 2,296 with a range from 438 to 5,537 square feet. This puts the average price per square foot for these distressed properties at approximately $308. Bedrooms and bathrooms for these distressed San Clemente homes and condos for sale both range from 1-7 .
The San Clemente real estate market is broken into ten distinct areas/neighborhoods and the concentration of the distressed properties throughout San Clemente are among just a couple of these areas. One of the areas, Talega real estate, has the greatest concentration as there are currently 44 Talega short-sales and foreclosures on the market. This represents 41.9% of the total foreclosures and short-sales among the 10 different areas of San Clemente real estate. Currently, 30% of talega homes and condos for sale are distressed properties. The Talega real estate market is experiencing the greatest amount of distressed properties since it was built out during the real estate boom with a lot of sales occuring over the past 3-5 years.
On the other hand, North San Clemente real estate and Forster Ranch real estate currently have 15 or 14.2% and 17 or 16.1% of the distressed properties for sale respectively. The areas west of Interstate 5 and closer to the ocean, Central, Southeast, Southwest, and some of the Coast District, have the lowest concentration of foreclosures with a total of 9 foreclosures among these four areas. The other areas of the San Clemente real estate market, Rancho San Clemente and Marblehead have 8 or 7.6% and 12 or 11.4% respectively of the distressed properties currently for sale.
For more information and a more up to date analysis, feel free to contact us.
Disclaimer: Please note the information above may not be completely accurate and the most up to date, and therefore, should not be solely relied upon for your San Clemente real estate purchase. San Clemente Coastal Living does not validate that any of the above information is 100% correct, however, we try to represent the most accurate and up to date information as possisble.
