A few weeks ago, I wrote that “San Clemente’s home real estate market just stumbled over something.”

I was referring to February’s home median price dropping below $600,000 when many professionals expected it to go up.

I asked then, “Does this little blip in the radar portend increased difficulties for local home sellers?  Or will next month’s market recover from this small stumble and confidently continue toward a steady or upward destiny?”  My opinion was, “If March’s home median price comes in at or above $600,000, all is well.”

Well folks, the sales numbers are a bit preliminary, but it looks like San Clemente’s home median price for March will come in exactly at $600,000.

But is all really well?

What we have right now in San Clemente, as in so many other real estate markets, is a mixed bag–many good and fewer not so good developments.

Good: After dropping like an anvil through water for all of 2007 and 2008, San Clemente’s home real estate market flattened out in 2009 and has not substantially budged up or down since.  The median price has bounced around, averaging just above $600,000.

Not so good: March 2011 prices are now the same as March 2004, seven years ago.

Good: March saw a dramatic increase in standard sales volume from February–42 versus 26–with a slight drop in both short sales and bank owned property sales volume. (Short sales are sell prices for less than owed.)

Not so good: Days in escrow have swung back up to about 78 after hitting a low two months ago of 65. This is probably because of even tighter loan underwriting rules.

Good: There has been a substantial drop in new listings, which has reduced the inventory of homes for sale.  This should help prices down the road.

Very good: March saw a big increase of new escrows opened compared to last March–79 versus 66. These can be viewed as buy decisions, and will bolster sales volume two to four months from now.

For more of the latest market news and statistics on San Clemente real estate, visit my blog at SanClementeRealEstateBlog.com or MCotter.com.