For the second week in a row, borrowing got a little cheaper. The average 30-year fixed mortgage rate slipped to 7.24% last Thursday, its lowest level this month, according to Freddie Mac.
The move is small, but at San Clemente prices it shows up in the monthly payment. And the local market hasn't been waiting on rates. In October, homes here closed in a median of 15 days, down from 20 a year earlier, according to CRMLS, the regional MLS where local agents list and report sales.
Mortgage Rates
The 30-year average was 7.32% the week before and 6.17% a year ago, so rates are still about a point higher than last fall. The 15-year fixed fell to 6.60%.
30-year fixed
7.24%
-0.08 pts from last week15-year fixed
6.60%
-0.08 pts from last weekSource: Freddie Mac Primary Mortgage Market Survey, October 29, 2026
Try it yourself
What would the payment be?
Principal + interest
$9,536/mo
At 7.24% on a 30-year fixed loan.
If rates were half a point lower, about $9,066/mo, a difference of $470 a month.
An estimate only, not a loan offer. Property taxes, insurance, HOA dues and Mello-Roos are not included, and your actual rate will depend on your lender and credit. Rate: Freddie Mac weekly average, October 29, 2026.
San Clemente Snapshot
$1.75M
Median sale price
+6.0% vs. October 2025 ($1.65M)$773
Median price per sq ft
+3.4% vs. last year ($747)15
Median days on market
Down from 20 a year ago45
Homes sold
Down from 49 a year ago99.3%
Median sale-to-list
Up from 99.0% a year ago$600K–$4.3M
Range of October sales
Lowest to highest closed priceSource: CRMLS (California Regional MLS), closed residential sales in San Clemente, October 1–31, 2026 vs. October 2025. Pulled November 2, 2026; a few late-reported closings can still be added.
San Clemente vs. the U.S.
The October national numbers come out later this month, so here is September side by side. One early signal: NAR's pending home sales, which track contracts signed, fell 7.3% in September from August, and 9.2% in the West. With about 50 sales a month in San Clemente, the local median can swing with the mix of homes that close, so it's worth watching the trend over a few months.
$2,200,000
+16.6% year over year
$417,500
+1.3% year over year
13 days
Down from 37
33 days
Same as a year ago
55 homes sold
Down from 58
3.99M annual pace
+1.5% from August, -2.2% year over year
Sources: CRMLS closed residential sales, San Clemente, September 2026 vs. September 2025; National Association of REALTORS® existing-home sales, September 2026
1.60M
Homes for sale
+4.6% vs. last year4.8
Months' supply
Unchanged from August31%
First-time buyers
Share of sales$613,600
West median price
-0.3% vs. last year-7.3%
Pending home sales
September vs. AugustWhat It Means
For sellers
If you are selling
Homes that closed here in October sold in a median of 15 days at 99.3% of list price, according to CRMLS. A well-priced home still tends to move without much waiting.
For buyers
If you are buying
Two weeks of easing rates trims the monthly payment a little. Try the calculator above with your own numbers, and it's a good time to check in with your lender if you've been waiting.
Neighborhood Spotlight
Neighborhood Spotlight
Forster Ranch
Forster Ranch spreads across the hills about two miles from the beach, with about twenty single-family tracts and five condo communities built from the early 1970s on. Many homes have views, and the 3.2-mile Forster Ridgeline Trail looks out over the ocean and city lights.
1970s
First homes built
~20
Single-family tracts
5
Condo communities
Views
The rolling hills give many homes panoramic views, and some sit tucked away from central San Clemente
Ridgeline Trail
A 3.2-mile trail from the Camino Vera Cruz entrance with ocean and city-light views
“Pirate Park”
Forster Ranch Community Park sits next to Truman Benedict Elementary and Bernice Ayer Middle School
Read the Forster Ranch guide“I grew up in Forster Ranch starting in 2001, and some of my best memories are from these streets and parks. It's a neighborhood I know inside and out.”
Around Town
Nov
7
Saturday
Coming up Saturday
San Clemente Village Art Faire
10 AM to 4 PM · San Clemente Library and Community Center lawns, 242 Avenida Del Mar
A long-running juried art faire where Southern California artisans sell their own handmade work, from photography and fine art to jewelry, ceramics, woodwork, glass and home decor. It happens on the first Saturday of most months, right in the heart of downtown.
Event detailsJacob Hazzard
REALTOR® with Luxre Realty, born and raised in San Clemente. CA DRE# 02222037.
Figures come from the named public sources linked under each chart. Market Notes never estimates a number.
Neighborhoods in this issue
