Today is a fantastic May day in the Temecula Valley with wonderful mid-70s weather and no clouds!  I wanted to take a few moments today to create a Temecula and Murrieta real estate mark report for Temecula and Murrieta home owners, sellers, and future buyers.

I plan to do this each month for both Temecula and Murrieta real estate markets for a few specific stats:

• The number of Temecula and Murrieta Homes that are actively listed
• The previous month's number of Temecula and Murrieta homes sold
• The average amount of days on market it took to sell the homes
• Plus the average active listing price and the average closing price from the month prior

So let's get started shall we?  For this report I will be using numbers I pulled for Single Family Homes in Murrieta Temecula.  These numbers will exclude attached housing (condos and townhomes) and any higher end homes of more than $1,000,000.

Here is the report for Temecula Homes with actives as of May 2011 and Sold for April 2011:

• Right now there are approximately 440 Temecula homes on the MLS
• Their list price averages $346,600
• In April 2011 we saw 161 Temecula home sold at an average sales price of $309,000
• And the homes that closed in April were on the market for approximately 79 days.

Now here is the same report for Murrieta homes for May actives and April sales:

• Right now there are 523 Murrieta homes listed on the MLS
• The average Murrieta home list price is $310,417
• In April 2011 171 Murrieta homes were sold at an average of $269,900
• And the April homes sales were on the market for 85 days.

The days on market (DOM) stat can be a challenge due to short sales.  It really isn't that high for standard or bank owned homes which sell really fast.  The number is higher because short sales are often left as active, even when multiple offers are in on them.  But I wanted to use a statistic that could be used and compared against in the years ahead.  It gives a macro view of our market that is often ignored.

Well, there it is - your May 2011 market report of Temecul and Murrieta.  As you can see, there remains a sizable difference in price point between the two sister cities.  However, in either case, buyers have a greate opportunity to buy low at this time as many of these homes were going for $500,000+ just a few years ago.  If you are considering moving our great Murrieta and Temecula community, please do not hesitate to contact me or my team.  We love meeting future Temecula valley residents and helping them to find the best home for their family and goals!

Sincerely,

Stefan West, Broker and Owner of West Realty

Specializing in Temecula Homes and Temecula and Murrieta Real Estate