As we come into July of 2011, Menifee valley properties sales stay at a rapid tempo! Summer time is constantly a busy time as folks make their move around school schedules amongst other issues.
In total, the Menifee real estate market is certainly trending upward but that could just be the summer time impact. Nevertheless, we are seeing greater activity which is a terrific thing! In every one of these reports, I pay attention to homes that are detached, single household residences priced below $1,000,000. I like regular amounts so you, the consumer, are seeing the same criteria every time. Let us go straight to the numbers:
Menifee Real Estate Evaluation Update - July 2011
- Total # of Active Properties Listed - 260
- Average Active List Price - $ 221,861
- Menifee Homes Sold in June - 105
- Avg. June Sales Price - $ 193,687
- Avg. Sold Days on Market - 70
Now let's compare these Menifee real estate data sets against last month. To start off there has been very little change in the number of active houses currently listed. It has lowered from 278 to 260. That would indicate increasing demand but the quantity change is miniature. Also, the average active list price for Menifee houses was $229,700 in June and is down to $221,861, a decrease of 3.4%.
Next up although is Menifee real estate sales and there we see a rise from 75 properties sold in May 2011 to 105 homes sold in June 2011, a stable boost of 30 houses of 40% more sales! That is a significant move. As for the average sales price tag, we see a decrease from $206,180 in May to a smaller $193,680 in June. That signifies a drop of $12,500 or 6% in actual closed sales prices for Menifee homes.
So overall, we have some odd signs. To bring this to a close, we have substantially escalating sales but reduced prices of both live and sold houses. The days on market help clean this up as it shrunk from 81 days in May to only 69 days in June. Everything points toward far more aggressive pricing but also far more buyers making the purchase choice. It also exhibits that the $200,000 price point is a goal area for many purchasers.
I am curious to see how this Menifee real estate pattern will change with the figures for closes in July. I will put that report up in the middle of the month or so in August so stay tuned!
