Temecula Market Trends Report for April 2016
Spring is in full effect in the Temecula Valley, with the balloon and wine festival only a few weeks away and the temperatures starting to warm up. This time of year is always a busy one in the real estate market as we tend to see more homes begin to hit the market and more buyers wanting to find the next place they can call home. In this month’s market trends report I will be pulling the numbers from the month of February and comparing them to March and April. As always my stats are based on single family, detached residences, with 3+ bedrooms and 2+ baths.
- Active Number of Temecula Homes In April: 273
- Average Temecula Home Price in April $558,131
- Number of Closes in March & April in Temecula: 270
- Average Sold Home Price in March & April for Temecula : $450,972
- Average Days on the Market: 59
Looking right away at how many homes we currently see on the market this month, there are 273. Back in February there was an average of 239. So we are starting to see an increase in our inventory. The average price that these homes are selling for hasn’t changed a whole lot. We had an average of $546,934 2 months ago and now we are seeing an average of $558,131.
Looking at the closes for the last 2 months we had 109 in February and from March to the end of April we have a total of 270. That is a 147% increase! We are really starting to see the market pick up. The average sold price has remained about the same with only $843 increase. The average number of days that homes are on the market currently is 59 which is an improvement from February’s 68 days.
If you or anyone you know is looking to buy or sell, then give me a call at West Realty and I would be more than happy to help. I have lived in this area for over 12 years and know the communities and different neighborhoods well.
By: Stefan West – Owner/Broker or West Realty