Temecula Estates & Ranches Market Update – May 2014

Reynolds Realty Group News

Temecula Valley

We hope the following information is helpful. If you would like to discuss this or chat about any of your real estate needs, or you know someone that will be selling or buying real estate soon, please call us at 951-506-1956 or email me at murray@thereynoldsrealtygroup.com.

Temecula Valley High-End Real Estate Market Snapshot

This is a Temecula Valley higher-end market snapshot for properties over $1 million.
For median priced properties (less than $1 million ) please click here.

  • Median Sales Price:
    • Median Sales Price this month is $1,388,000
    • Up $188,000 (13.54%) over the MSP 3 months ago
    • Down Slightly – (.29%) over last year’s MSP
    • Up $288,000 (20.75%) over the last 2 years
  • The Number of Closed Sales
    • 5 Closed Sales (1/2 of May 2013’s numbers)
    • And 1/2 of May 2012’s
  • Inventory has Increased
    • Inventory levels are up 23.6% compared to the lowest levels in the last 12 months (January 2014)
    • Currently there is 21.47 months of inventory (Absorption Rate)
  • The time it is taking to sell is up almost 50% compared to the median times over the previous 12 months
  • Sales Prices continue to be below the Original Price
  • Current Listing’s Average Price per Square Foot (PSF) was $328.55 compared with 12 month averages (Closed Sales) of $244 / PSF

 

Number Of Sales and Median Sales Price

highendsales-price

 

Inventory And Number Of Sales

ahighendabrate

Days On The Market and Original Price vs. Sales Price

dom-orig vs sales high end

Price Per Square Foot and Average Square Feet (Sales)

psf

Highest Price Sales & Properties Listed For Sale

highest prices
*Note: All Stats Based On Single Family Dwellings, Standard Sales (Not Short Sales, REO’s, etc.)


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