Temecula Real Estate Market Update – September 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.

Market Snapshot

  • Median Sales Price ($384,000)
    • Retreated $11,000 over the last month’s, and $1,102 over the same time last year,
    • Gained $51,704,000 over the last 2 years
    • Gained approximately $134,000 since the lows in 2009
  • The number of sales – 144
    • 15.28% higher than 3 months ago
    • 18.06% higher than last year’s levels
  • Inventory – 3.4 Months of Inventory :
    • Inventory levels are18.24% lower than one month ago
    • Almost 11% lower than this time last year
    • Still far above the lowest level in the last 2 years of 1.6 months inventory (12/2012)
  • Days On The Market (Median) – 53 Days
    • The time it is taking remains relatively long
  • Original Price vs. Selling Price:
    • Selling prices continue to be below the original asking price, but rose to the highest levels in many months

 

Number Of Sales and Median Sales Price

Inventory & Number Of Sales

 

Days On The Market & Sales Price vs. Original Price

 

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

 


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