San Clemente remains a strong seller’s market as of June 2024, with high demand driving up prices and quick sales. Here’s an in-depth look at the latest market trends and statistics:

Market Overview

Seller's Market: San Clemente is characterized as a seller's market, meaning that home prices are typically higher and properties tend to sell faster.

Median Home Price: The median price for homes sold in San Clemente in June 2024 was $1,660,000. This marks a 7% increase from the previous year.

Price per Square Foot: The median price per square foot in June 2024 was $720.

Home Prices by Bedroom Type

1 Bedroom Homes: Prices decreased by 18.3% compared to the previous year.

2 Bedroom Homes: Prices remained unchanged.

3 Bedroom Homes: Prices increased by 8.5%.

4 Bedroom Homes: Prices increased by 8.2%.

5+ Bedroom Homes: Prices increased by 9.8%.

Inventory and Sales Activity

Homes for Sale: There were 249 homes for sale in June 2024, representing a 9.2% increase from May 2024.

Sales and Pending Sales: A total of 55 homes were sold or pending sale in June 2024, a 5.2% decrease from the previous month.

Sales Price Analysis

Below Asking Price: 44% of homes were sold below the asking price.

At Asking Price: 20% of homes were sold at the asking price.

Above Asking Price: 36% of homes were sold above the asking price.

Time on Market

Average Days on Market: Homes in San Clemente averaged 21 days on the market in June 2024, a decrease of 17.3% from last year.

Speed of Sales:

76% of homes were sold within 30 days.

20% of homes were sold within 30 to 90 days.

4% of homes were sold after being on the market for over 90 days.

Summary

The San Clemente real estate market continues to favor sellers, with rising home prices and relatively quick sales. Despite a slight decrease in the number of homes sold compared to the previous month, the market remains active with a significant percentage of homes selling at or above asking price. The increase in inventory suggests more options for buyers, but the demand keeps competition and prices high.

Stay tuned for future updates and detailed analyses of the San Clemente real estate market.