San Clemente top 10 in state for median home prices

February 27th, 2009, 11:00 am · Post a Comment · posted by KELLI HART, THE ORANGE COUNTY REGISTER

Three Orange County cities made the top ten for highest median home prices in the state for the month of January - and one of them is San Clemente, according to the California Association of Realtors.

City	Median
Santa Barbara	$939,250
Redondo Beach	$672,500
Pleasanton	$655,000
San Clemente	$602,500
San Ramon	$582,000
Yorba Linda	$566,750
San Francisco	$561,000
Huntington Beach	$555,000
Encinitas	$550,000
Sunnyvale	$530,000

O.C. cities Huntington Beach and Yorba Linda also made the top ten.

Median home prices for the state dropped from $427,200 in Jan. 2008 to $254,350 in Jan. 2009, a 40.5% decrease.

C.A.R. president James Liptak says that sales are up statewide and the future doesn’t look so grim in the California housing market.

He says: “The strength in California home sales in recent months signifies that the market is gradually working its way through the large numbers of distressed sales that have followed in the wake of the troubled mortgage problem. With favorable home prices and historically low mortgage rates, affordability in the California housing market is now at its highest since the start of the decade.”

Speaking of distressed properties, CLICK HERE to see how San Clemente measures up with Laguna Beach and Dana Point with distressed properties currently on the market.

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City	ZIP	Price	Chg.	Sold	Chg.
DP	92624	$650,000	+28%	8	+60%
DP	92629	$575,000	-14%	32	+60%
LB	92651	$1,262,500	-7%	32	+46%
SC	92672	$587,500	-6%	35	+25%
SC	92673	$618,000	-6%	46	+0%
•O.C.	All	$432,000	+5%	2,896	-1%

Orange County Register