Market Overview
San Juan Capistrano has shown notable growth and activity in May 2024. The real estate market reflects a positive trend with increasing home prices and a dynamic sales environment.
Median Home Prices
Median Home Sold Price: $1,313,333
This represents a significant 9.3% increase from the same time last year.
Median Price per Square Foot: $633
Inventory and Sales Activity
Homes for Sale: 133
This is a 5.7% decrease from April 2024, indicating a slight reduction in inventory.
Homes Sold/Pending: 47
There was a substantial 23.7% increase in the number of homes sold or pending compared to the previous month, April 2024.
Sales Dynamics
Sales Price Analysis:
36% of homes sold below the asking price.
17% of homes sold at the asking price.
47% of homes sold above the asking price.
This distribution highlights a competitive market where a significant portion of buyers are willing to pay over the asking price.
Days on Market
Average Days on Market: 31 days
Speed of Sales
Homes Sold within 30 Days: 77%
Homes Sold within 30 to 90 Days: 19%
Homes Sold over 90 Days: 4%
The majority of homes in San Juan Capistrano are selling within the first month, reflecting strong demand and efficient market conditions.
Summary
The San Juan Capistrano real estate market in May 2024 exhibits strong growth and activity. The median home price has seen a notable increase, and the majority of homes are selling quickly, often above the asking price. Despite a slight decrease in inventory, the significant rise in homes sold or pending demonstrates a dynamic and competitive market. Buyers should be prepared for a competitive environment, while sellers can expect favorable conditions to achieve premium prices.
Both buyers and sellers in San Juan Capistrano should adopt strategic approaches. Sellers can benefit from the high demand to negotiate favorable terms, while buyers need to act swiftly and be prepared for competitive offers to secure their desired properties.
