Wow, it’s hard to believe that we are already headed into the month of May! With summer fast approaching this is the usually busiest time for the real estate market. In this month’s report I will be comparing the active numbers to those of Last August’s. I find it very eye opening to see how we ended Summer last year as we move towards Summer now. As always my numbers are based on single family, detached residences, with 3+ bedrooms and 2+ baths.
- Total Number of Active Listings: 217
- Average Menifee Home Listed Price: $338,099
- Number of Homes Sold in March: 84
- Average Menifee Selling Price: $294,372
- Average Days on the Market: 55
As we are ending the month of April there are currently 217 homes currently listed in the city of Menifee. Looking back at August of 2013 there were only 138 homes on the market. We are seeing an increase in inventory by 57% almost 9 months later. The active listing price is at $338,099 vs. $341,039 last year. It’s maintaining its average, give or take a few thousand dollars. There hasn’t been a lot of movement interestingly.
Moving onto the closes for the month of March, I’m seeing only 84 homes, which is a decrease by about 20 homes from August of last year. The current selling price has risen nicely from $263,705 last year to presently $294,372 and homes are tending to stay on the market a little longer by about 15 days.
If you or anyone you know is looking to buy or sell please give me a call and I would be happy to assist you or answer any questions you may have about buying or selling a home in the area.
By: Stefan West, Broker & Owner of West Realty