Sam Smith

The San Clemente Real Estate market seems like it has cooled down a little in the month of September from the mad rush of buyers looking to cash in their California tax credit and the Federal Tax Credit that was offered in the first 6 months of the year. There was a short period of time where buyers could "double dip" their tax credits for both the Fed & State to earn a total of $16,000 for the first time buying experience.

In August 2010, we saw 38 properties close escrow under $600,000. 24 of these properties were single family homes here in San Clemente. This is a result of the affordiblity factor for single family homes under $600,000 when compared to last year August where only is 10 properties sold under $600,000. The biggest demand from buyers right now is for homes in the $500,000 range which explains the huge increase in sales.

Above the $600,000 mark we saw another 38 homes sell in the month of August 2010 with 9 of them selling over the $1,000,000 mark. The highest price sale was at 47 Campanilla in the Sea Pointe Estates community which sold for $3,075,000. This is in comparision to 48 homes that were sold in 2009 with 10 homes sold over the $1,000,000 mark. The highest price sale at that time was 4032 Calle Ariana which sold for $2,200,000 in the Cyprus Shore gated community.

Overall, it appears that the San Clemente Real Estate market has increased for homes under $600,000 with the first tme homes buyers and real estate investors entering into the San Clemente Real Estate marketplace. Homes over the $600,000 range appear to be about the same with the same number of homes selling over the one million dollar market.

For more information regarding the San Clemente Real Estate market please contact Sam Smith, a local San Clemente Realtor at 949-291-0424 or visit his San Clemente Real Estate website.