Summer is just a couple of weeks away from officially starting and kids are out of school! Time for families to take their vacations, head to the beach, or just enjoy an afternoon by the pool, well that’s not exactly the case for me! This is the time of year when the real estate market really starts to heat up in the Valley. We typically start to see more homes being listed as families usually like to wait for summer before making a move. We are still seeing more buyers than sellers in our market. In this month’s market trend reports, I will be pulling the current numbers for the city of Menifee and comparing them to this time last year. As always, my stats are based on single family, detached residences, with 3+ bedrooms and 2+ baths.
• Total number of Active Listings in June: 161
• Average Price of Active Listings in Menifee: $406,755
• Number of Closed Homes in May: 141
• Average Sold Price in the City of Menifee for May: $368,554
• Average Days on the Market: 34
Starting out the month of June, we have a total of 161 homes currently listed for sale in the city of Menifee. Last year at this time there were 177 homes actively listed on the MLS. The average price that homes were being listed for was $388,248 and currently we are seeing an average list price of $368,554. Not a huge jump over the last year.
Looking at what has sold, there were 120 homes last year that sold and in the month of May we had 141. The average sold price was $341,888 and last month the average was $368,554. The average number of days that homes are on the market is 34 currently vs last year’s 47 days.
If you or anyone you know are looking to buy or sell a home please give me a call. I always appreciate any referrals you send my way as well. Please remember me when it comes to real estate!