With the end of the first quarter of 2009, San Clemente real estate, including Talega real estate, continued to show signs of life.  At the end of March, 113 units sold as compared to 109 prior year, a slight increase of nearly 4%.  More impressive, there are currently a combination of 46 San Clemente homes and condos for sale that are under contract, representing an increase of 109% compared to prior year.  These are good signs of life for April sales in the San Clemente real estate market as we begin to enter the busy spring and summer buying season. 

Much of this increase in sales can be attributed to the fact that the average San Clemente home or condo is now selling for approximately 20% less than prior year.  This is making housing much more affordable, especially with interest rates hovering near all time lows that is allowing buyers to afford more home.

Inventory, on the hand, is still hovering above a six month target that historically indicates a stable market, however, the number of new homes coming on the market in March fell nearly 25% compared to prior year.  With increased sales activity and fewer homes coming on the market, we should see inventory continue to retreat back to levels that represent a stable market. 

For the month of March, the average days on market for San Clemente real estate fell to 93 as compared to 109 prior year.  Traditionally for a stable market, average days on market should be in the 60-90 day range.  San Clemente homes and condos on average sold for approximately 85.6% of the original listing price and 93.4% of the adjusted listing price for the month of March.

 For more information on San Clemente real estate, please feel free to contact us for free information.

This entry was posted on Tuesday, April 7th, 2009 at 3:35 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.