San Clemente Real Estate Market Performance - November 2009 vs. November 2008
San Clemente home and condo sales are up 21% year-to-date compared to November 2008, suggesting that many buyers believe that the real estate market is priced correctly. As of November 2009, the average sales price is down 17 % compared to prior year, which is less than most other luxury coastal markets in Orange County. The San Clemente real estate market has held on stronger than other coastal communities in Orange County since it’s much more affordable than communities such as Laguna Beach, Newport Coast, and Corona Del Mar.
The average days on market (DOM) for San Clemente real estate for the month was 106 days. In addition, the inventory at the end of November was averagin 8.5 months. Historically, a stable market averaged 60-90 DOM and 5-6 months of inventory, suggesting that San Clemente continues to work its way back to stabilizing and improving each month for 2009. In addition, the average price per square foot sold for San Clemente has remained flat, if not increased, over the past couple months, suggesting that the luxury market has struggled while the market in the $300,000 to $800,000 range has stabilized. Nevertheless, much of this will be determined when the real estate market begins its busy season again in 2o10.
Should you have any specific questions, such as recent sales in your neighborhood, please contact us and we will gladly provide you a detailed market report.
