Last week we gave you an overview of the San Clemente real estate market performance from 2000 to 2008.  This week we thought it would be appropriate to focus on the year-over-year comparison as of July 2008 in order to focus more on the present. 

For July 2008 year to date, 344 San Clemente homes and condos have sold as compared with 427 for the same period prior year, representing a 19% decrease.  Currently, average days on market (DOM) is at 103 days up from 88 the same period prior year or an increase of 17%.   While much of this is negative news, everyone should note that San Clemente real estate median price is down 9.36% compared to Orange County and California real estate median price decrease of 26% and 35% respectively.  Clearly this is great news for San Clemente real estate buyers or sellers as this justifies that coastal communities tend to withstand market adjustments much better than other markets.  Another positive note for the San Clemente real estate market is year-to-date there have been 944 new listings as compared with 1246 for the same period prior year or 24% less, meaning less inventory is coming on the market which should help to pave the way for a recovery once sales pick up and inventory falls back into 6-7 months of supply.

For a more detailed analysis, including Talega real estate, Forster ranch real estate, or other communities in San Clemente, please contact us.

This entry was posted on Tuesday, August 12th, 2008 at 10:52 pm and is filed under Market News & Analysis, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.