Temecula Real Estate Market Update – December 2014

Reynolds Realty Group News

We hope the following Temecula real estate market update 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.

“Not a snowball’s chance in h*&&”!!!! Snow in Temecula?!?!! Yep, a once-in-a-lifetime event on New Year’s Eve Day. Boy, did we get excited!!! Anyway, Here’s how the Temecula market did in December 2014.

Market Snapshot

This is a general market snapshot. For higher-end properties ($1 million plus) please check out our post on Estates & Ranches by clicking here.

  • Median Sales Price ($375,000) is creeping up the all time highs reached in 2006 (Approximately $500,000), but prices have stagnated this year – good time to buy or good time to sell and buy – prices have still recovered enough for most of the equity losses since the crash to have been re-cooped and maybe move up or like many of our clients down-size and take the profits.
    • Retreated $10,000 over the same time last year, but gained $35,000 over the last 2 years
    • Gained approximately $125,000 since the lows in 2009 (33.33%)
  • The number of sales is 11.85% higher than last year’s levels
  • Inventory has decreased:
    • Inventory levels are 68.86% lower than one month ago
    • Almost 17% lower than this time last year
    • Still far above the lowest level in the last 2 years of 1.6 months inventory (12/2012)
  • The time it is taking remains relatively long
  • Sales Prices continue to be below the Original Price

 

Number Of Sales and Median Sales Price

dec sales vs msp

Inventory & Number Of Sales

dec inventory listings

 

Days On The Market & Sales Price vs. Original Price

dec dom, orig vs sold price

 

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

 


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