Santee Real Estate Wrap-Up: Small Supply, But Still Affordable

Written By Nikki Coppa

Santee climbed 1% this month to a 20% combined sale price gain over 2012 year to date (YTD). This matches the East County average and falls just short of the 21% San Diego County increase. The highest sale reported YTD in Santee remains at $879,000.

As expected, inventory levels have been increasing throughout the county. That is not the case in Santee, as combined inventory levels have actually dropped a bit this month to an 18 day supply. Although sellers have been in an ideal negotiating position for the past few months while supply has been limited, the steady increase of properties for sale in other areas has begun to impact the strength of that position. Selecting the right time to list your property is vital to achieving your goals. 

Distressed sales continue to diminish throughout the county. The current inventory mix in Santee is comprised of 2% foreclosures, 11% short sales and 87% equity sales.

Throughout San Diego County, 41% of the active inventory is priced under $500K. In Santee, 74% of the active inventory is listed for less than a half million dollars.

By Nikki Coppa, Realtor® • DRE Lic # 01266573 • (619) 274-1426

 Statistics compiled Aug-13 using Sandicor data. Information deemed reliable but not guaranteed.