Temecula Market Update – May 2014

Reynolds Realty Group News

Soar or flop?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.

Summer is the “hot season” for the real estate market, right? Well, normally that’s true, but this year is it?

 

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 ($409,000) is approaching the all time highs reached in 2006 (Approximately $500,000)
    • Gained $19,000 this year, and $85,000 over the last 2 years
    • Gained approximately $183,000 since the lows in 2009 (38.88%)
  • The number of sales is slightly below last year’s levels
  • Inventory has increased
    • Inventory levels are almost twice compared to May 2013 levels
    • Increase 19.37% compared to the the lowest level reached in the last 6 months (February 2014)
  • The time it is taking to sell is almost twice May 2013’s
  • Sales Prices continue to be below the Original Price

 

Number Of Sales and Median Sales Price

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Inventory And Number Of Sales

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Sales Price vs. Days On The Market

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


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