Market Overview:
San Juan Capistrano continues to be a Sellers Housing Market, characterized by higher prices and faster home sales. Despite a slight decrease compared to the previous year, the market remains robust with favorable conditions for sellers.
Housing Prices:
The median sold price for homes in San Juan Capistrano stands at $1,269,328, with an average price per square foot of $605. While there has been a marginal decrease of 1.2% since January 2023, prices remain relatively high, reflecting the desirability of the area.
Housing Supply:
The San Juan Capistrano real estate market had 85 homes for sale in January 2024, representing a 6.3% increase compared to December 2023. This increase in inventory provides potential buyers with more options and opportunities.
Negotiation Opportunities:
If you're buying a home in San Juan Capistrano, you may be able to get a good deal, as 45.8% of homes sold below asking price last month. This suggests that buyers have some negotiating power in the current market environment.
Sales Activity:
During January 2024, 24 homes were sold in San Juan Capistrano. Fifty percent of homes were sold within 30 days, indicating a brisk sales pace, while 38% were sold within 30 to 90 days. Thirteen percent of homes took over 90 days to sell, highlighting varying market dynamics.
Key Takeaway:
San Juan Capistrano remains a Sellers Housing Market, offering advantageous conditions for sellers despite a slight decrease in median sold price compared to the previous year. With increased inventory and negotiation opportunities, buyers have options to explore in this dynamic real estate market.
Overall, the San Juan Capistrano housing market continues to demonstrate resilience and attractiveness, with prices remaining relatively high and homes selling at a brisk pace.
