November 2015 Market Trends Report for Menifee
Thanksgiving has already come and gone and I hope this market update finds you well and amongst family and friends this holiday season. In my November 2015 Market Trends Report for Menifee, I will be pulling the current numbers for the month of November and comparing them to October. As always my stats are based on single family, detached residences, with 3+ bedrooms and 2+ baths.
- Number of Active Menifee Homes on the Market in November: 223
- Average Menifee Listed Home Price in November: $358,539
- Number of Closes in Menifee in October: 106
- Average October Home Price in Menifee: $322,450
- Average Days on the Market: 64
Right away I see that there aren’t as many homes on the market this month vs. October. There are currently 223 homes on the market in November for Menifee. Last month there were only 236 homes so not too big of a change. The real estate market in Menifee is slow and steady like the rest of the valley.
Moving onto what has been closing over the last month, there were a total of 106 homes that closed escrow which was only 2 more than the previous month. The price that Menifee homes are selling for is not fluctuating a lot over the last few months. In September the average selling price was $327,994 and in October the average selling price was $322,450. The average day’s homes are staying on the market has increased 16 days this last month.
If you or anyone you know is looking to buy or sell a home in the Menifee area then be sure and give West Realty a call. We know the area well and if you are thinking of selling we can provide a free market analysis of your home. If you’re looking to buy a home then we can set you up on a customized search. Make sure to check back in the months to come for up to date market trends.
By: Stefan West- Owner/Broker of West Realty