January 2016 Murrieta Market Trends Report
It’s hard to believe that we are already in the start of a new year! Hopefully you’ve made those New Year’s resolutions and are holding to them. In this January 2016 Murrieta Market Trends Report, I will be pulling the current numbers for the city of Murrieta in January 2016 and comparing them to last month. As always my stats are based on single family, detached residences, with 3+ bedrooms, and 2+ baths.
• Number of Active Murrieta Listings in January: 271
• Average Murrieta Home Price in January: $470,997
• Number of Closes in December: 158
• Average Sold Price of Murrieta Homes in December: $385,357
• Average Days on the Market: 67
I can see right away that the city of Murrieta has decreased the amount of inventory by 64 homes this month. In December at this time we were seeing as many as 335 homes on the market and currently we only have 271. That is a difference of -19%. The average price that the active homes are being listed for has increased very slightly from $467,489 to $470,997. As we approach spring these numbers will hopefully improve and we will start to see an increase in inventory in the city of Murrieta.
Looking at the closed numbers, I can see that those have dropped slightly over the last month. We had a total of 158 closes in November and in December there were only 135. Not a huge change but it is common for this time of year. Most people don’t usually plan on moving around the holidays. The average price that these homes are selling for has improved just slightly from $385,357 in November to $391,831. The average days, that homes are staying on the market in December is 61 days, which is a few days shorter than in November.
If you or anyone you know is looking to buy or sell in the area, then be sure to give us a call at West Reality. Now is a great time to think about listing your home or buying a home in the Murrieta area. We would be happy to provide you a complimentary current market valuation of your home or set you up on the MLS to receive listing that meet your criteria. Be sure to check back with me in the months to come for current market trends in the city of Murrieta.
By: Stefan West – Owner/Broker of West Realty