The chill is finally in the air. It was starting to look like Winter would never come in Temecula, what with our beautiful weather year round. I hope the weather didn't dampen anyone's romantic plans for Valentine's day. It sure didn't dampen mine. With all the romance and rain in the air, let's see if it had any affect on Temecula's real estate market. The statistics for February's homes advisory are for single families, detached homes, with 2+ bedrooms and 2+ baths. Here are the numbers:
• Total Actively Listed On Market in February: 358
• Average Temecula Home Listed Price: $ 346,803
• # of Temecula Properties Sold in January: 132
• Average Sold Temecula Home Price: $ 294,487
• Average Days On Market Of Homes Sold in February 97
Now, it looks like Temecula's active homes listed on market and average home listed price did nothing but grow in February. In January, the number of actives listed on market was 325 while in February it is 358. That is a difference of 33 properties, a 10.15% increase in listed homes. That is a significant increase of listed properties in Temecula. I'm hoping this means there will be more closed homes in next months market advisory. The price also grew from $344,719 in January to $346,803 in February. A minimal 0.6% growth but a growth nonetheless.
The largest change was the number of closed homes in Temecula. It dropped from 156 homes in December to 132 homes in January. That is a difference of 24 properties, a 15.38% decrease in the number of sold homes. Temecula's real estate took a beating when it came to closing homes. Temecula's sold home price also dropped from $314,006 in December to $294,487 in January. That is about a 6.22% decrease in sold price. Both of these percentages are very significant in my opinion. Hopefully with the active numbers for February looking so good, we don't see another drastic drop like this past month.
And that is my Temecula Homes Advisory and Projections for February 2012. I hope I left you with more answers than questions. Feel free to contact me with further inquiry via email anytime. Wishing you safe and well.
Stefan West
