Weekly Real Estate Update

Check out this week's local stats!  We are seeing improvements across the board.  Check these numbers out!

San Clemente Update:
Days on market - 86
Inventory this month- 355
Average Sale Price – $880,757
Months of Inventory – 4.93
How many homes sold so far this month? Jun – 72

Dana Point Update:
Days on market – 72
Inventory - 238
Average Sale Price - $1,133,705
Months of inventory – 5.80
How many homes sold so far this month?  - 41

San Juan Capistrano Update:
Days on market - 95
Inventory - 154
Average Sale Price – 741,721
Months of Inventory -  4.28
How many homes sold so far this month? –  36

Analysis:  Summer is heating things up!

San Clemente is showing some strong growth, not only in number of homes sold, but how quickly and for how much.  We are seeing increases in average sold price, and decreases in days on market.  These are direct, first hand indicators that the market in San Clemente is in a growth curve.  We will probably see some price increase for the next 3-4 months before it cools off again. Sellers are getting hot to trot when they see their neighbor's house sell for significantly more than what it would have even 6 months ago.  Buyers want to take advantage of these low interest rates while they can, so they are beginning to rise to the occasion-(days on market decrease)  The requirements are just now beginning to ease for loan approvals, but are still not like the old days.

Dana Point is on par with San Clemente, but not at the same rate of growth.  With a smaller, boutique kind of feel, sellers here are usually more proud on their homes and like to charge a premium to be moved out (hence the higher average price sold and less inventory this month than San Clemente).

San Juan Capistrano is coming in at the slowest of all three, with less inventory, more days on market and lower average prices, we see here that the market in San Juan has not quite kept up with Dana or Clemente. This most likely will always be the case, as San Juan Capistrano has more inland acreage than is two counterparts.  There are also a large number of homes in this area with lower price points. As a buyer, San Juan could be an interesting prospect due to that fact that it has not yet caught up with the other two cities in pricing.  You can bet that as summer continues to heat up, we will see the same increases here as with Dana and Clemente.  San Juan Capistrano is a great spot for first time buyers, there are some lower priced homes in comparison, and with this slow and steady rise now is a safe time to buy.

For more information or any specific questions, Call or email me.  I'd love your feedback! 

-Derek Alward (949)276-8656  Derek@creatusproperties.com
www.CreatusProperties.com

*(sales data is sourced from the CRMLS matrix, and opinions on market are just that.  This analysis is not to be used for legal purpose, simply to inform and share opinion)