The Month of July is halfway over and I can’t believe it. The kids will be going back to school in just 4 short weeks. This summer has flown by. In this month’s Murrieta Market Trends Report I will be pulling the numbers from April and comparing them to the current month of July. As always my stats are based on single family, detached residences, with 3+ bedrooms, and 2+ baths.
- Total number of Active Murrieta Listings in July: 329
- Average Murrieta List Price in July: $487,485
- Total number of Murrieta Closes in June: 204
- June Average sold Home Price in Murrieta: $415,025
- Average Days on the Market: 46
I can see right away that we are increasing the amount of inventory in Murrieta which we are seeing that same trend throughout the valley. This month we currently have 329 homes listed on the MLS and back in April there were only 273 that’s an increase of 20% more homes in just a few short months. The average list price for homes in Murrieta is $487,485, which is only about a $1000 increase since April.
Moving onto what is selling in Murrieta, there were 204 homes that closed escrow in June and in March we had 268, so only a slight difference in the last 3 months. The average price that homes are actually selling for is $415,025. That’s an improvement of $15,000.
We are seeing a lot of inventory in the higher price points and those are tending to stay on the market longer with fewer showings. The market that is hot is the $350,000 range. Those are being listed underpriced as agents are trying to create bidding wars amongst buyers.
If you or anyone that you know is looking to buy or sell a home in the area, please give me a call as I would be happy to help with any of your real estate needs.
Have a great rest of the month!