Real Estate

Santee Real Estate Wrap-Up: More Homes on Market in June

30 percent of homes are priced under $350,000 in Santee.

Written By Nikki Coppa

Santee jumped to a 17 percent combined sales price gain over 2012 year to date, matching the East County average and sliding in just under the 20 percent San Diego County increase in June, according to SANDICOR data. The highest sale reported YTD in Santee remains at $879,000.

Most communities throughout the county are reporting inventory increases this month, and fortunately, Santee is one of them. After struggling through the past few months with only a 15 day supply of combined inventory, the current 24 day supply is like water for the parched. Although only a glass full, there is the hope the improvement will continue as the summer selling season heats up.

After a drastic increase in distressed properties for sale in May, Santee is back to a more palatable inventory mix of 9 percent foreclosures, 5 percent short sales and 86 percent traditional sales.

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Of the 4,783 homes for sale throughout San Diego County, less than 19 percent are priced below $350,000. In Santee, almost 30 percent of the current offerings are under $350,000. Buyers feeling the financial pinch of rising prices should check out Santee quickly before those numbers are only a memory.

See more local real estate data analysis at Call Nikki.com

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