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This Week’s Santee Real Estate Wrap-Up

This weeks "Hot Picks" for Real Estate in Santee and an analysis of the market.

Also read: New FHA Insurance Premiums Could Save You Thousands

ON MARKET:

There are currently only 19 detached homes on the market in Santee. This is almost half of the number of listings from last month (which was admittedly a bit high for the month of December). 

The city has been able to maintain an average asking price per square foot of over $254. As of right now we are at $254.24 (up just slightly from last month at $254.19 a square foot). With the average home on the market being 1,543 square feet, our average asking price for a home in Santee right now is $375,284. 

Here are my top four picks for this week. The home that is probably the best bang for the buck is the listing at 8558 Rhone Rd. Though it does need a little bit of TLC, it appears to be mostly cosmetic and at $146.94 a square foot, it would be tough to go wrong. A close second is the home at 10155 Conejo Ln. This home may be $48+ more per square foot, it is turn key ready.

Asking Price Bed/Bath Adddress Sq Ft

$/Sq Ft

$314,900 3/2 8558 Rhone Rd. 2,143 $146.94 $549,000 4/3 10155 Conejo Ln. 2,827 $194.20 $605,900 5/3 5318 Bella Vista St. 2,930 $206.79 $439,900 4/3 10028 W. Glendon Cir. 1,976 $222.62

Recently SOLD:

The National Association of Realtors reported this week that the average home in the US increased by 4% in 2012. While that is not a record breaking number, it was way better than the losses of the last several years. Here in Santee, we did quite a bit better than the national average. In 2011 our average price per square foot was $210.42 and in 2012 it rose to $230.10. That is an over 9% increase. Not too bad in a depressed market. 

In the last month we have had 26 detached homes close escrow. That is with an average sales price of $328,550 for a 1,470 square foot 3 bedroom 2 bathroom house.

Here are some of the top sales per square foot in Santee this last month:

Sold Price Bed/Bath Address Sq Ft $/Sq Ft $337,000
3/2 10209 Woodrose Ave. 1,032 $326.55 $322,000 3/2 10025 Pinewood 1,032 $312.02 $340,000 3/2 9515 Cambury Dr. 1,116 $304.66 $320,000 3/2 9638 CamburyDr. 1,092 $293.04

If you would like to be prequalified to purchase one of these homes, or any home in California, please give me a call.

Rob McNelis
Summit Mortgage
NMLS#830519
(619) 928-9762
robm@summit-mortgage.com
www.RobMcNelis.com

Data from SANDICOR, Inc. for December 2012, represents properties listed or sold by various brokers.

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