Temecula Real Estate Market Update – February 2015

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.

Here’s how the Temecula real estate market did in February 2015.

Market Snapshot

  • The lowest priced sale was $241,000 and the highest priced sale was $1,190,000.
  • Median Sales Price -$394,950 – was up from last months MSP of 389,000k, and 5.56% year to year . Combined with near record low interest rates, it’s becoming an even better time to buy or good time to sell and buy
    • Gained $21,950 over the same time last year, and gained just under $55,000 over the last 2 years
    • Gained approximately 37% since the lows in 2009
  • The number of sales gained 11.11% over last months, but was down 12.22% over this time last year.
  • Inventory has increased – there is now 3.98 months of inventory on the market:
    • Inventory levels were 13.32% lower than one month ago
    • Approximately 16.58% higher than this time last year
    • Still far above the lowest level in the last 2 years of 1.57 months inventory (06/2013)
  • The time it is taking to sell decreased 12 days over last month, and is almost double the time it took to sell 2 years ago
  • Sales Prices continue to be below the Original Price, but the gap is very close

 

Number Of Sales and Median Sales Price

Inventory & Number Of Sales

 

Days On The Market & Original Price vs. Sales Price

 

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

 


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