Happy St. Patrick's Day! We are already in the third month of 2012 and Temecula's real estate market continues to show a drop in numbers. Looking back on my past market reports, I've seen a drop in several categories each month from the average sold price to the number of closed homes. My statistics for March continue on the same path. The criteria for my statistics are single family residences, detached homes, with 3+ bedrooms and 2+ baths. Here is what happened in March:
• Total Actively Listed On Market in March: 305
• Average Temecula Home Listed Price: $ 356,812
• # of Temecula Properties Sold in February: 121
• Average Sold Temecula Home Price: $ 289,939
• Average Days On Market Of Homes Sold in February: 80
Well, Temecula's real estate market isn't showing too many signs of improving this month. First, let's look at how February's statistics ended. The number of Temecula homes sold dropped by 8.33% from 132 homes in January to 121 homes in February. The average sold price also dropped about 1.54%. That is not as significant as the drop in number of homes sold but it is still another category where there was a drop in numbers. However, the days on market had the biggest change this month. It was a 17.52% decrease! A smaller number for days on market means it didn't take as long, on average, to sell the homes. Buying and selling homes in a shorter amount of time is a good sign.
Temecula's real estate market for February had some good and some not so good percentages. The actives for March had the same affect. The number of active homes listed dropped 14.80% from 358 properties in February to 305 properties in January. That is a difference of about 50 homes. A smaller number of homes put on the market can be seen as a positive change or a negative change, depending on your point of view. The average listed price for the properties grew from $346,803 to $356,812. That's about a $10,000 or 2.89% increase in average listed price. That is promising for those of you who are looking to sell your homes.
Even though most of these numbers have had a decreasing percentage, it doesn't necessarily mean the market is going down under. There have been both great and not so great statistics given here. Trends keep changing and I am here every month with my Temecula Real Estate Market Reports giving you statistics and projections.
I hope my Temecula real estate statistics for March 2012 has helped you with all of your real estate market needs. If you have any other questions, don't hesitate to shoot over an email. I wish you and your family a happy and healthy March.
Stefan West, West Realty