As November comes to an end I hope you all enjoyed the start of the Holiday season with a wonderful Thanksgiving with family and friends. I spent Thanksgiving week up in Lake Arrowhead with my family. In this month’s market report, I will be pulling the numbers from the month of November for the city of Murrieta and comparing them to October. As always my stats are based on single family residences, with 3+ bedrooms and 2+ baths.
• Number of Active Listings in November: 219
• Average Murrieta List Price in November: $517,203
• Number of Homes Sold in October: 137
• Average Sold Price in Murrieta: $466,220
• Average Days on the Market: 40
Right away I am seeing a large decrease in the number of active listings on the market. In October we had 275 homes on the market and currently we have 219. That’s a difference of 20%! The price that homes are being listed for had dropped slightly from $522,609 to $517,203.
Now looking at the sold numbers for the city of Murrieta, I can see that number has remained steady with 139 in September and 139 in October. The average sold price has gone up from $441,025 to $466,220 last month. The average number of days that homes are on the market is 40 days currently, which is an increase from last month’s average of only 28 days.
We are seeing the normal slow down in the real estate market with Holiday Season here. As usual it should pick back up after the New Year only to really regain strength again in the spring. If you would like to get a free no obligation market evaluation of your home please give me a call and I would be happy to provide one to you. Have a great Holiday Season and be sure to check back in the months to come as I will continue to update my site with current market stats for the city of Murrieta and the surrounding areas.
By: Stefan West – AKA Mr. Murrieta