Market Overview:
San Clemente remains a robust sellers' market, characterized by higher prices and quicker sales. The median sold price for homes in San Clemente stands at $1,635,000, reflecting a notable increase of 5.0% compared to January 2023. Additionally, the average price per square foot is $679.
Housing Supply:
In January 2024, there were 155 homes available for sale in San Clemente, marking an 8.4% increase from December 2023. However, despite the slight uptick in inventory, demand continues to outpace supply, contributing to the competitive nature of the market.
Number of Homes Sold:
The number of homes sold in January 2024 decreased by 23.9% compared to December 2023, with a total of 35 homes sold. Of these sales, 21 homes were sold below asking price, while 7 homes were sold at asking price and another 7 homes were sold over asking price.
Key Takeaway:
Buyers in San Clemente may find opportunities to negotiate, as 60% of homes sold below asking price last month. However, with the market remaining highly competitive, buyers should act swiftly to secure desirable properties.
Days on Market:
The average time to sell a home in San Clemente decreased slightly, from 40 days in January 2023 to 39 days in January 2024, indicating continued demand and swift sales.
Overall, San Clemente's housing market continues to favor sellers, with increasing prices, limited inventory, and brisk sales activity characterizing the market dynamics. Buyers should be prepared to act decisively, while sellers can expect favorable conditions for achieving desirable outcomes.
