Temecula Real Estate Market Update – January 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.

Happy New Year to all! Here’s how the Temecula real estate market did in January 2015.

Market Snapshot

  • Median Sales Price -$390,000 – rebounded from last months MSP of $375k, but prices continue to be pretty stable rising just 4.81% 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 $18,750 over the same time last year, and gained just over $55,000 over the last 2 years
    • Gained approximately 36% since the lows in 2009
  • The number of sales dropped 40% over last months, and over 11% year to year.
  • Inventory has increased:
    • Inventory levels about 40% higher than one month ago
    • Approximately 3.7% higher than this time last year
    • Still far above the lowest level in the last 2 years of 1.81 months inventory (06/2013)
  • The time it is taking to sell increased 10 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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