San Juan Capistrano remains a seller’s market as of June 2024, with high demand driving up prices and quick sales. Here’s a detailed look at the latest market trends and statistics:
Market Overview
Seller's Market: San Juan Capistrano 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 Juan Capistrano in June 2024 was $1,328,720, marking a 6.3% increase from the previous year.
Price per Square Foot: The median price per square foot in June 2024 was $640.
Home Prices by Bedroom Type
1 Bedroom Homes: Prices increased by 9.5% compared to the previous year.
2 Bedroom Homes: Prices increased by 8.7%.
3 Bedroom Homes: Prices increased by 7.3%.
4 Bedroom Homes: Prices increased by 22.2%.
5+ Bedroom Homes: Prices decreased by 6.2%.
Sales Activity
Sales and Pending Sales: A total of 33 homes were sold or pending sale in June 2024, a 32.7% decrease from the previous month.
Sales Price Analysis
Below Asking Price: 61% of homes were sold below the asking price.
At Asking Price: 15% of homes were sold at the asking price.
Above Asking Price: 24% of homes were sold above the asking price.
Time on Market
Average Days on Market: Homes in San Juan Capistrano averaged 29 days on the market in June 2024, a decrease of 3.4% from last year.
Speed of Sales:
73% of homes were sold within 30 days.
18% of homes were sold within 30 to 90 days.
9% of homes were sold after being on the market for over 90 days.
Summary
The San Juan Capistrano real estate market continues to favor sellers, with increasing home prices and relatively quick sales. Despite a decrease in the number of homes sold compared to the previous month, the market remains active with a notable percentage of homes selling at or above the asking price. The demand keeps competition and prices high, making it a challenging market for buyers.
Stay tuned for future updates and detailed analyses of the San Juan Capistrano real estate market.
