Time is just flying by! March is already here and I'm still sticking to my 2012 New Year's resolution of keeping up with my monthly market reports in a timely fashion. In March we find St. Patrick's day, a freak thunder storm, and some large percentage changes in my Menifee real estate market statistics. My statistics are specified to single family homes, detached, with 3+ bedrooms, 2+ baths. Let's see what Menifee has done this month:
• Total Actively Listed On Market in March: 193
• Average Menifee Property Listed Price: $227,442
• Number of Menifee Properties Sold in February: 56
• Average Sold Menifee Property Price: $206,225
• Avg Days On Market Of Homes Sold in February: 76
So, Menifee's real estate market had some significant changes for closes in February. Starting out with the number of homes sold, the difference was a drop of 18.84%. That is a difference of about 15 homes. The average sold price rose from $191,280 in January to $206,225 in February. That is a 7.81% increase. Therefore, less homes were sold at a higher average price.
The days on market in February had a very significant decrease in this month's market report. It dropped from about 97 days to about 76 days. That is a 21.65% drop in the number of days on market. That is huge jump in number of days. We don't see that big of a percent very often. It seems people were ready to shop and close quickly this past month.
It seems like March's active numbers are mimicking February's closed numbers. By that I mean that the number of active homes has dropped while the average listed price has risen. The number of active homes listed dropped from 284 homes to 193 homes. That is almost 100 properties! It is a 32.04% drop in number of homes, the most significant drop this month! This is a very large and very uncommon change in numbers. The average listed priced did the opposite. It rose about 5.72%, from $215,127 in February to $227,442 in March. So fewer properties are listed and they average at a higher listed price. Hopefully, next month there isn't another major change in my statistics like that again. I'm not sure Menifee's real estate market could handle that.
That was my Menifee real estate market Statistics for March 2012. If you have any questions, don't hesitate to ask. I hope I leave you and your family healthy and happy. Happy March!