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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 36 detached homes on the market in Santee. This would normally be the time of year that we would see the least amount of activity as Christmas gets ever closer. However as the inventory of housing continues to be incredibly low, I have not seen the number of listings decrease month over month thus far. As I have said in the last couple of articles, this is typically when the market becomes a buyers market but not this year!!

In fact, the average asking price for a home has actually gone up by $3.60 a square foot in the last two weeks. This puts the average asking price for a detached home right now $254.19 a square foot. With the average home on the market being 1,564 square feet, our average asking price for a home in Santee right now is $384,752. 

Here are my top four picks for this week. The best of which is the home listed on 10017 Three Oaks Way. It has been recently renovated and is still the best priced home on the market at only $209.64 a square foot.

Asking Price Bed/Bath Adddress Sq Ft

$/Sq Ft

$284,900 4/2 10017 Three Oaks Wy. 1,359 $209.64 $384,900 4/2 11051 Collinwood Dr. 1,656 $232.43 $379,000 4/2 9915 Cardoza Dr. 1,608 $235.70 $296,500 3/2 10382 Bart Wy. 1,242 $238.73

Recently SOLD:

There have been 37 homes that have closed escrow in the last month with an average sales price of $345,784 and an average of three bedrooms, two bathrooms and 1,560 square feet. To add further proof to the point of low inventory and it being more of a sellers market; there is only a difference of 1.6% between asking/list price (235.58 per square foot), and the sold price ($231.95 per square foot).Here are the top four grossing sales in terms of dollars per square foot in the last two weeks.

Sold Price Bed/Bath Address Sq Ft $/Sq Ft $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 Cambury Dr. 1,092 $293.04 $365,000 3/2 8820 Prestwick Wy. 1,308 $279.05

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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