Hello Murrieta residents and prospective residents! This has been a wonderful start to Spring. I'm hoping the cold and rain are done for the rest of the Spring season, however we will just have to wait and see. Now let's just get right into it. What is going on with Murrieta's housing market this month? Here it is. The standards for my stats are for single family residences, detached, with 3+ bedrooms and 2+ baths. Here we go:
• Total Actively Listed On Market in March: 324
• Average Murrieta Property Listed Price: $322,278
• Number of Murrieta Properties Sold in February: 141
• Average Sold Murrieta Property Price: $270,051
• Avg Days On Market Of Homes Sold in February: 75
So it looks like there have been some fairly large percentage changes in Murrieta's housing market. Starting out with the closed numbers for February, there was a growth in the amount of properties sold and a decrease in the price at which those homes sold as well as a drop in the number of days on market. The number of homes sold increased about 19.49%, from 118 properties in January to 140 properties in February. Also, the average sold price fell about 6% from $287,215 to $270,051. And lastly, the average days on market decreased about 20%. That is about 21 days fewer than the month before. Therefore, in February, it took fewer days to sell more homes at a reduced price. That sounds pretty good to me.
Now let's see what the actives are drawing up for March. The amount of actively listed properties dropped from 390 properties to about 325 properties, a 17% difference from February to March. That is about 65 fewer properties listed in March. Also, the average listed price for these properties rose from $304,008 to $322,278, about 6.01% from February. That is the opposite of what February's closed numbers showed. I'm hoping March closes as beautifully for the buyer as February did.
So that was my Murrieta real estate market report for March 2012. Come back next month to see my stats for March's closed figures on April's real estate market projection. I hope I leave you and your family in good health. Contact me anytime if you have any questions. See you in April!
Stefan West
