The San Clemente real estate market, found in Southern California's Orange County, saw a decline in median price alongside a fall in home sales. The rest of Southern California also saw a fall in real estate sales, perhaps indicating the weakness of the real estate market following the expiration of the federal housing tax credit. An August 24, 2010 report from the Orange County Business Journal stated that "The median price of an existing Orange County home slipped by nearly $3,500 in July from June, while sales declined almost 15% from a month earlier, the California Association of Realtors said Tuesday. The median price for an existing stand-alone OC home sold in July was $514,180, a 0.7% decrease from a month ago and up 2.8% from a year earlier. The area’s median sales price now is up 21.5% from the recent bottom of the market, seen in January 2009. Prices here still are off more than 31% from the peak of the market, when the median sales price for an OC home topped $747,000 in April 2007. The number of sales here fell by 14.5% from a month earlier, and were down 12.6% from a year ago, the association said."
The entirety of Southern California, including San Clemente homes for sale, declined in July 2010, reflecting the fragility of the Golden State housing market. According to an August 28, 2010 article from the Orange County Register, "Industry revenues from home sales fell 16.2% in Southern California in July, the only month this year to see revenues drop from the year before, Southern California Multiple Listing Service figures show. Assuming that brokers charged 6% on all deals, then SoCal commissions totaled $260 million. That’s down from $311 million in July 2009 — and down from $566 million at the height of the housing boom in 2005. Actual commissions vary. The 6% fee is used to get a rough estimate of how much brokers and their agents earned. July’s numbers likely reflected the decrease in home sales that occurred after federal tax credits ended. By contrast, SoCal revenues and likely commissions increased 7.5% from 2009 levels for the year as a whole...Orange County brokers got the second-biggest share: 30%, or roughly $80 million in July."