The month of March is fast approaching which means spring is just around the corner. In this month’s Murrieta market trends report for February 2016, I will be pulling the current stats for February and comparing them to January. As always my stats are based on single family, detached residence, with 3+ bedrooms and 2+ baths.
• Number of Active Listings in Murrieta: 243
• Average Murrieta Home Price in February: $485,700
• Number of January Closes in Murrieta: 84
• Average Sold Price of Homes In Murrieta: $386,286
• Average Days on the Market: 70
The real estate market in Murrieta has slowed down a bit from last month. We were seeing 271 homes listed last month and now we have a total of 243. We are in a seller’s market at the moment with such little inventory out there for buyers. The average price that homes are being listed for has increased slightly from $470,997 to $485,700.
Looking at the sales in Murrieta, we have dropped from 158 in January down to only 84 in February! That’s a difference of 46%. The average price that homes are actually selling for has only gone down by about $1000. The length of time that homes are staying on the market has only increased by 3 days. Make sure to check back with me in the months to come to see what the Murrieta real estate market is doing.
If you or anyone you know is looking to buy or sell please call me and I would be more than happy to help you in any way. Whether it’s a complimentary market evaluation of your home or getting you set up on a search for your next home, I’m here to help. So give me a call. Thanks for taking the time to read my Murrieta market trends report for February 2016. Make sure to check back in the months to follow for up to date market reports in the area.
By: Stefan West – Owner/Broker of West Realty