Another month is almost over and with June just days away, summer is fast approaching. School will be out soon and days relaxing at the beach can’t get here soon enough. This is also the time of year that the real estate market in Temecula starts to really pick up. In my monthly report I will be looking at the market to see how many homes we currently have listed in Temecula and also what they are selling for. As always my stats are based on single family, detached residents, with 3+ bedrooms and 2+ bathrooms.
- Total Number of Active Listings in Temecula in May: 485
- Average Listed Price of Temecula Homes: $485,009
- Total Number of Closes in April: 137
- Average Price of Homes Sold In Temecula: $403,392
- Average Days on the Market: 60
I see right away that the number of homes on the market has increased by almost 80 in the last month, a 19% increase! That continues to be good news for potential homebuyers. With the inventory increasing each month we will more than likely start to see a decrease in the listing prices.
Moving on to what sold in the month of April. There were 156 homes that closed escrow which is an improvement from March’s number of 141. The average selling price has gone down slightly from $416,087 to now $403,392. The average days that homes are staying on the market is maintaining its average of 61 days.
If you or anyone you know is looking to buy or sell a home in the Temecula Valley, please contact my office and we would be more than happy to assist you! Make sure to check back in the following months for up to date market information.
By: Stefan West Owner/Broker of West Realty