There is only one month left of summer and most kids are heading back to school this week. It’s been a fun couple of months off but now it’s back to making lunches and homework. The Real Estate market in Temecula has been strong and steady as it normally is this time of year. In this month’s market trends report I will be pulling the numbers from August and comparing them to the month of April. As always my stats are based on single family, detached residences, with 3+ bedroom and, 2+ baths,
- Number of Active Listings in Temecula for the Month of August: 408
- Average Temecula Home Price in August: $523,363
- Number of Closes in Temecula for July: 229
- Average Price of Temecula Homes in July: $422,312
- Average Days on the Market: 59
I can see right away that the average amount of homes on the market has improved from April. We currently have 408 and 4 months ago we were seeing an average of 368. The price of homes has gone up slightly from $507,455 to $523,363. That an improvement of only 3%. The summer months in the valley tend to be fairly busy for the real estate industry.
Looking at the closes for July, there were 229 vs. 143 closes in March. Like the home prices mentioned above, the sold prices haven’t gone up to significantly. I am only seeing a 1.5% increase from March to July. The average time that homes are on the market has only improved by one day.
It’s a great time to buy, whether you are a first time home buyer or just in the market for more space. I have been in this business for over 10 years and know the area inside and out. If you are wondering about your home’s value I can give you a comprehensive market valuation based on the comps in your direct area. Please give me a call or feel free to email me. Check back on my website for up to date market trends in the Temecula Valley.
By: Stefan West – Owner/Broker of West Realty