January 2015 Menifee Market Update
Happy New Year! I hope this finds you all having a great first couple of weeks in 2015. In this January 2015 Menifee Market Update I will be gathering the numbers from December for the city of Menifee and comparing them to the current numbers for January. As always my stats are based on single family, detached residences, with 3+ bedrooms and 2+ baths.
- Total Number of Active Homes in January: 199
- Average Listing Price of Homes in Menifee: $334,972
- Number of Homes Closed in December: 100
- Average Selling Price for Homes in December: $308,742
- Average Days on the Market: 62
Looking at the current number for Menifee I can see that they are following the same pattern as the rest of the Temecula Valley. The number of active homes on the market has dropped from 233 in December to 199 now in January. That’s a difference of 34 homes and a 14% decrease. The average listed price isn’t changing a whole lot from last month. We were seeing an average of $331,127 and now we have only jumped up about $3000.
Moving onto what’s been selling in the city of Menifee, I can see by looking at the January 2015 Menifee Market Update that there were 85 homes that sold in November and at the end of December we had a total of 100. I am also seeing an increase in the price that these homes are being sold, it’s not a huge jump by any means with only $7000 in December. The average days that homes are staying on the market is remaining about the same with only a couple of days.
If you or anyone you know is in the market to either buy or sell a home, then give us a call at West Realty. We can help you find the home of your dreams or get a valuation of your current home at no charge or obligation to you. We have been in this area for over a decade and know the neighborhoods well. From taxes to HOA’s we have the answer you’re looking for. Make sure to check back with me each month for updates about your current city.
By: Stefan West – Owner/Broker of West Realty