REOs, Short Sales and Standard Sales Data for San Clemente, CA -- January 2010

As of today there are 326 listings in San Clemente. This includes single family homes and condos. Of these 326 listings, here is a break down by Standard Sales, REOs and Short Sales:

Standard Sales: 214 listings, 66% of the market, is comprised of Standard Sales. These are Equity Sellers, meaning that they are not in default or in foreclosure.

• The average time it takes to sell a Standard Sale listing in San Clemente is 87 days.
• The average list price of a Standard Sale is $840,437. However, the average sale price is about $50,000 below asking, at $790,757.

REOs: 23 listings or 7% of the market is comprised of REO properties. These homes have already been foreclosed on and taken over by the lender. REO properties are also known as Bank-Owned properties.

• The average time it takes to sell a bank-owned home in San Clemente is 54 days.
• The average list price of an REO in San Clemente is $538,508. The average sale price is $546,425. Contrary to Standard Sales and Short Sales, the average sale price of an REO in San Clemente is higher than the asking price. This is not surprising. REO properties are often the lowest priced home in its neighborhood. This creates a high demand among buyers to compete for the home, which drives up the sale price.

Short Sales: 79 listings or 24% of San Clemente homes for sale are Short Sales.

• The average days on market for a short sale is 132 days.
• The average list price is $594,124 vs. the average sale price of $591,045.

I would love to hear any questions or comments you have about the San Clemente market or your own city of interest.

Sabina Brown

First Team Real Estate -- San Clemente, CA

BeachyAgent.com

TeamSanClemente.com