The year of 2012 has finally begun. With the new year comes new year’s resolutions and fresh beginnings. I hope all of you started out 2012 safe and secure, ready to take on the new year. I myself have decided to get an early jump on my market reports for 2012. As usual, my market projection is based on single family homes, 3+ bedrooms, 2+ baths, and detached. Let us see how Menifee faired this new year:
• Total Number Of Actives Listed On Market in January: 263
• Average Menifee Property Listed Price: $ 223,935
• Number of Menifee Homes Sold in December: 75
• Average Menifee Sold Home Price: $209,054
• Average Days On Market Prior To Sale in December: 90
Hmmmmmm, so there have been some significant changes between January’s Menifee market analysis and December’s Menifee market statistics. The first item that grabbed my attention was the difference in the number of properties sold from November to December. November’s Menifee properties sold was 58, a drop from October’s 68 homes sold. So, the rise from 58 properties sold in November to 75 properties sold in December is a substantial jump. Altogether, it’s a 22.66% increase. That is a pretty significant difference. Families were doing more than just buying instores this past month.
Now, after seeing the number of homes sold in Menifee, why don't we look at the average price at which these homes sold at. November’s Menifee market advisory showed that the average sold price was $225,949 while December’s average sold price was $209,054. That is a 7.47% decrease from November to December. Nonetheless, if we look at October, the sold price was $209,566. That shows that this reduction isn’t ground breaking. It appears to be a general fluctuation from month to month, especially considering the large jump in number of Menifee properties sold.
I hope my Menifee real estate market statistics and projections help you with your home buying needs. If you have any other questions, don’t hesitate to send me an email. I hope you and your family had an amazing new years and I’m looking forward to filling your market report needs this year.
Stefan West
