Once the winter months pass and spring rears its beautiful head, the San Clemente real estate market begins to flourish. April marks the beginning of the busy home buying season that lasts through the end of summer. While San Clemente home sales in 2014 have been down when compared to the last 2 years, April saw a sizable uptick from the previous few months, and May only continued this upward trend.
According to sales data from the Multiple Listing Service, there were 86 San Clemente condos and homes sold in May, the highest amount of real estate sales so far this year. This represents a 6% increase over April’s sales but an 11% decrease from year-ago numbers; this year-over-year decrease should not be surprising as this is the 4th straight month where home sales are down compared to last year. Out of the 86 properties sold, 65 of them were single family detached homes; basically every 3 out of 4 properties sold were detached homes. Now that schools are letting out and the busy buying season is upon us, families with kids are starting to buy larger homes rather than moving into a smaller condo or townhome. It will be interesting to see if San Clemente condo sales increase now that we’re in the summer season; condos are a great target for investors, and many will want to snag one soon to take advantage of summer vacation rentals or long-term renters looking to secure a home before the new school year or end of summer.
If you are thinking of selling your San Clemente home or condo, now is as good as of a time as any; you are guaranteed to get the most foot traffic through your door during the busy summer buying season. For potential San Clemente home buyers, there are currently 297 homes, condos and townhomes on the market; the question is, is your new home out there waiting for you?