I can’t believe that we are already wrapping up the month of February. This year is flying by and I swear the time is moving faster the older I get! In this month’s Temecula market trends report for February 2016, I will be pulling the current numbers for the city of Temecula and comparing them to last months. As always my stats are based on single family, detached residences, with 3+ bedrooms and 2+ baths.
• Active Number of Temecula Homes in February: 239
• Average Temecula Home Price in February: $546,934
• Number of January Closes in Temecula: 109
• Average Sold Price of Homes in Temecula: $450,129
• Average Days on the Market: 68
Looing right away at the current real estate market in Temecula, I see that numbers have dropped this month to 239 active homes from 264 back in January. We are definitely seeing a seller’s market at the moment, which has driven up the average listed price of homes in Temecula. This month we are seeing an average increase of about $23,000.
Moving onto what is selling in Temecula in the month of February. There are fewer closes this month vs. January. We had a total of 139 homes close escrow and currently we have only had 109 as we close out this month. The average price that homes are selling for has only decreased by $1000. The length of time that homes are staying on the market is averaging 68 days currently.
If you or anyone you know is looking to buy or sell, please call me and I would be more than happy to either provide you with a complimentary market evaluation of your home or set you up on a customized search if you’re looking to purchase. Thanks for taking the time to read my Temecula market trends report for February 2016. Be sure to check back in the months to come for up to date market reports.
By: Stefan West – Owner/Broker of West Realty