February 2015 Menifee Market Trends Report
We are well into the month of February and Valentine’s Day is only a few days away! Hopefully reservations are made and you have picked out the perfect gift. In my February 2015 Menifee Market Trends Report, I will be pulling the numbers from Menifee and comparing them to January. As always my stats are based on single family, detached residences, with 3+ bedrooms and 2+ baths.
- Total Number of Active Listings in February: 214
- Average Menifee Home Price in February: $342,878
- Total Number of Closes in January: 49
- Average Menifee Sold Price in January: $288,945
- Average Days on the Market: 62
Well looking right away, there is a few more house on the market in February than there were in January. We had 199 active listings a month ago and currently Menifee has 214. Not a huge increase to say the least. The current listed price of homes has increased slightly from $334,972 to $342,945.
Now taking a look at the closes last month, I can see that number has dropped in half! We had a total of 100 closes in December and in January there were only 49. The average sold price has also dropped from $308,742 to $288,945. The average days that homes are staying on the market has fluctuated just slightly from 62 days down to 61 days now.
With rates still low and guidelines changing for programs, it is making it easier for buyers to qualify for home loans. If you are looking for that perfect home or you would like a current market value of your home then please give me a call and I would be more than happy to help, I have lived in the area for a while and know it well. Make sure to check back with me next month for up to date market stats in your area. Thanks for stopping by to read my February 2015 Menifee Market Trends Report. Make sure to check back in the months to come for up to ate market trends in the area.
By: Stefan West – Owner/Broker of West Realty