The notorious year of 2012 has come. I hope you all had a terrific and safe new year’s eve and day. My kids loved watching the ball drop this year, however I had to wake them up a few minutes before because they had fallen asleep around nine o’clock. Hopefully with a new year comes a change in Temecula’s real estate market. The criteria for my stats are Temecula properties, single family residences, detached with 3 bedrooms and 2 baths. Let’s see what 2012 has done for us:
• Total Actively Listed On Market in January: 325
• Average Temecula Home Listed Price: $ 344,719
• # of Temecula Properties Sold in December: 156
• Average Sold Temecula Home Price: $ 314,006
• Average Days On Market Of Homes Sold in December: 97
Well, let’s take a look at Temecula’s property prices for both actives and sold. It looks like active prices had a small decrease from December’s $347,400 to January’s $344,719. However, the Temecula Valley sold property price jumped from $297,760 to $314,006. Overall, that is a 5.45% increase. I say that’s a fairly substantial increase in sold price within the last month.
I also noticed that Temecula’s average days on market has risen from last month’s. November’s average days on market was at 85 and it is now at 97 days in December. That is a 14.12% increase from month to month. And if we look back to October’s DOM which was 81 days, you can see that it is continuing to rise. What does this mean precisely? This means it is progressively taking longer and longer to sell homes. Nevertheless, if we look back to March we see that this is a seasonal pattern. During the summer, Temecula real estate’s days on market decrease and during the winter and spring, the days increase.
I hope my Temecula real estate statistics and trends report for January 2012 has provided you good information. As always, I hope you and your family remain safe. If you have any added questions, I am available via email. Feel free to contact me anytime.