The Temecula Valley’s real estate market is slowly starting to quiet down which is typical for this time of year as we head into the holiday months. Please see the numbers below:
Total Number of Active Listings in Temecula: 392
Average Temecula Listed Price for October: $543,563
Total Number of Closes in Temecula Sep 15-Oct 15: 162
Average Temecula Home Sold Price: $465,284
Average Days on the Market: 58
Total Number of Active Listings in Murrieta: 358
Average Murrieta Listed Price for October: $478,391
Total Number of Closes in Murrieta Sep 15-Oct 15: 147
Average Murrieta Home Sold Price: $403,901
Average Days on the Market: 46
Total Number of Active Listings in Menifee: 196
Average Menifee Listed Price for October: $388,769
Total Number of Closes in Menifee Sep 15-Oct 15: 115
Average Menifee Homes Sold Price: $353,073
Average Days on the Market: 53
Total Number of Active Listings in Wildomar: 85
Average Wildomar Listed Price for October: $453,054
Total Number of Closes in Wildomar Sep 15-Oct 15: 42
Average Wildomar Home Sold Price: $370,518
Average Days on the Market: 60
In Temecula there was a decrease of only 1% in the amount of active listings, whereas Murrieta, Menifee, and Wildomar have increased the amount of active listings by an average of 9% since July. The average Temecula and Murrieta list price has dropped just under 3% compared to July pricing.
Overall, actual Murrieta home sales have dropped almost 28% from July and just under 3% in sales price. Temecula home sales have fallen less with home sales down roughly 10% but only losing a ½ percentage point in average price of home sold.
Ultimately, if you are looking to buy a home, it is a very good time with supply running high and prices slipping. If you are looking to sell, the best methodology is to have a sparkling clean home, enhanced curb appeal, and be priced right from the get go. Good homes are moving but the average time on market is 46-60 days. Pricing and presentation are absolutely key coupled with great pictures and accessibility. The good buyers are getting rare and missing that one good showing can hurt – a lot.