We are fast approaching summer as the weather starts to heat up and the kids are nearing the end of another school year. In this month’s Temecula market trends report, I will be pulling the current numbers and comparing them to what has been selling in the city of Temecula.  As usual, my stats are based on single family, detached residences, with 3+ bedrooms and 2+ baths. 

Number of Active Listings in Temecula: 266

Average Temecula Home Price in May: $584,459

Number of Homes that Closed Escrow Between 4/24-5/24: 172

Average Temecula Home Sold Price: $481,319

Average Days on the Market: 33

Well, it’s no surprise that we have a low inventory of homes currently listed for sale in Temecula. We currently have only 266 listings. This makes it even harder for approved buyers to get offers accepted, as they are competing against multiple offers and often times over asking price. The current average price that homes are being listed for is $584,459. This number has gone up about $40,000 over the last 8 months, which is a 7% increase.

Moving onto what is selling.  From 4/24-5/24, there have been 172 homes that have sold in the city of Temecula.  I can also see that the sold prices have increased a bit over the last few months as well with numbers going from $465,284-$481,319. The average number of days that homes are staying on the market is 33, which is an improvement from 58 back at the end of 2016.

I’m hopeful that we will start to see an increase in the number of homes as we move more into summertime. Now is a great time to buy or sell, so please don’t hesitate to give me a call and I would be more than help you with any of your real estate needs. Referrals are always appreciated too! 

Enjoy this Memorial Day Weekend and to all of our service men & women, thank you for your dedication to serving this wonderful country we live in! 

Mr. Murrieta