Murrieta Market Trends Report October 2015
It’s my favorite time of year again, when the leaves start changing colors, fall decorations are out, and the air has an undeniable crispness to it. In this Murrieta Market Trends Report October 2015, I will be pulling the numbers for the current month of October and comparing them to September. As always my stats are based on single family, detached residences, with 3+ bedrooms and 2+ bathrooms.
• Total Number of Active Murrieta Listings in October: 300
• Average Murrieta Home Price in August: $477,712
• Total Number of Murrieta Closes in August: 132
• Average Murrieta Sold Price in August: $380,006
• Average Days on the Market: 48
Well looking right away I can see that the city of Murrieta’s active listings have dropped by almost 100 listings this month which is a 25% decrease! What does this mean for sellers you ask? Well it’s as simple as supply and demand. Not enough homes will start to drive the average price of a home up in that area, which is exactly what we are seeing here with these numbers. In September the average list price was $447,455 and now with inventory dipping a bit the average has moved up to $477,712.
Moving onto the sales in September, the number of homes that have sold in the month of September was 132. This number has only improved by 9 homes over August. The average sold home price in the city of Murrieta has increased slightly from $375,471 to $380,006. These numbers aren’t changing a whole lot. The amount that homes are staying on the market had dropped from 61 days in August to 48 days in September.
If you or anyone you know is looking to buy or sell in the area please give West Realty a call with any questions. We are here to help with any of your real estate needs. Make sure to check back with me in the months to come for up to date market trends reports.
By: Stefan West “Mr. Murrieta” – Owner/Broker of West Realty