San Clemente Real Estate: Market Performance January 2009 vs January 2008
San Clemente real estate, including Talega real estate, for the month ended January 2009 performed relatively consistent with January 2008. During the month, 31 San Clemente homes and condos were sold as compared to 30 in January 2008, representing a 3.3% increase. The average sales price during the month was significantly less at $660,512 compared to January 2008 of $941,872. Buyers and sellers should note, however, this can be attributed primarily to more San Clemente foreclosures and short-sales closing which tend to be concentrated in the $350,000 - $800,000 price range in addition to the year-0ver-year decrease in average sales price of 16% at the end of 2008. If you are considering purchasing a San Clemente home or condo for sale, then keep in mind that San Clemente real estate year-over-year price declines are at least half that of Orange County and California real estate.
If you are considering a purchase in the near term, then please note that the average San Clemente home or condo sold during January was at 95.98% of the adjusted listing price and 88.63% of the original listing price. The buyer should also keep in mind that the average days on market for San Clemente real estate was 98 days at the end of January 2009 as compared to 116 in January 2008, representing a 15.5% decrease. This decrease is an indicator that we are working our way back to historical average of 80-90 days on market where the market is stable. Obviously, much of this will be the story to be told during the rest of 2009.
For more information on San Clemente real estate and Talega real estate, please contact your exclusive San Clemente real estate agents and realtors for a free consultation.
