Homes for Sale in San Juan Capistrano - What Happened in the San Juan Capistrano Real Estate Market in March 
2013? The San Juan Capistrano real estate market posted solid overall sales for March 2013 with prices surging 28% over the previous year with 31 closed sales – volume was slightly lower than last year’s sales volume of 36 closed sales. The month-to-month change in volume was up 35% but overall sales volume continues to be constrained by low inventory of homes for sale in San Juan Capistrano! It continues to be a very strong seller’s market in San Juan Capistrano.
Buyer demand for San Juan Capistrano real estate continues to be high – as of April 16, 2013, 52% of all available listings in San Juan Capistrano are under contract. Inventory under $500,000 is extremely low with only 10 active listings on the market.
Here are the San Juan Capistrano Real Estate market highlights for the month of March:
• 31 homes in San Juan Capistrano sold at an average selling price of $772,513 – sales volume decreased 14% and average sales prices increased by a whopping 63% over the previous year. This is largely due to larger homes selling in this period averaging 2428 square feet vs. 1951 square feet the year earlier. On a Price Per Square Foot basis, prices were up 28% and averaged $294 per square foot.
• The average asking price of these homes was $796,393 – selling at 97% of list price. The minimal reduction in final selling price is yet another indication of the strength of the current market, and lack of available inventory. Look for this number to tighten even more in coming weeks as buyer demand for homes in San Juan Capistrano continues to exceed supply and multiple offers become the norm. It is also important to note that the recovery is extending to all segments of the market with higher priced homes representing a larger share of the market.
• Selling prices varied from $160,000 for a 2 bedroom condominium in the Mission Area which was a short sale to a high of $3,100,000 for a home in the Hunt Club offering 6 bedrooms and 7666 square feet (includes condos and single family homes).
• 28 of the 31 homes that sold were standard sales and only 3 were distressed sales – either San Juan Capistrano short sales or bank owned foreclosures. The significant reduction in distress inventory has played a major role in the recent price increases in most Orange County markets over the past several months. Only 5 of the current 80 active listings are distressed sales! This bodes well for home owners looking to sell their San Juan Capistrano homes in the coming months.
• March 2013 sold homes averaged 71 days on market. This is down from 116 days on market in the previous year. Another indication of a strong San Juan Capistrano real estate market.
Useful Search Options for San Juan Capistrano Home Buyers:
• San Juan Capistrano Real Estate and Homes
• San Juan Capistrano Condos for Sale
San Juan Capistrano Home Sellers:
• Request Your Free San Juan Capistrano Home Valuation Today
Whether you are looking to buy or sell a home in San Juan Capistrano, having the latest local information allows you to make good decisions when it comes to San Juan Capistrano real estate. San Juan Capistrano is a charming community made up of a large variety of neighborhoods where home prices can vary greatly from one neighborhood to the next. It’s important to work with a local San Juan Capistrano Realtor who knows the market – Broker Owner David Grbich is the #1 ranked real estate agent in San Juan Capistrano per ActiveRain. Call me anytime at 949-500-0484 with any questions on buying or selling San Juan Capistrano homes. I look forward to working with you!
If you are a San Juan Capistrano home owner looking to sell your home, be sure to read my recent article titled “Top 3 Reasons to Sell Your Orange County Home Now”.
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