October Market Update for Temecula 2014

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Local Real Estate Market Statistics

New Temecula CA Home Sales

 

Halloween has come and gone and now it’s officially the beginning of the holiday season. Thanksgiving is just 3 weeks away, hard to believe! This year has gone by so quickly and the New Year will be here before we know it. Getting onto this month’s New Temecula CA Home Sales report, I will be pulling the numbers for the month of October to see how many closings we had and how much inventory there is in the Temecula Valley. As always my stats are based on single family, detached residences, with 3+ bedrooms and 2+ baths.

  • Total Number of Active Listings in Temecula: 456
  • Average Listed Price of Temecula Homes in October: $481,692
  • Total Number of Closes in Temecula for October: 168
  • Average Price of Temecula Homes in October: $396,626
  • Average Days on the Market: 78

Looking at the numbers for October and comparing them to September I can see that our inventory has decreased from 491 homes to now 456 homes actively on the market. That is a difference of 7{c8f127ee0ae8e843244cc4fdd37fe5c6d1494d04024f10fe6afe3d18700f5f1b}. The average listed price has gone up from $477,313 to now $481,692, only a slight increase in price for the New Temecula CA Home Sales.

Moving onto what sold in October, we are seeing more homes close this last month than in September. We have gone from 138 up to 168, exactly 30 more closes in October. The average selling price has dropped slightly from $420,673 to $396,626, a 5{c8f127ee0ae8e843244cc4fdd37fe5c6d1494d04024f10fe6afe3d18700f5f1b} decrease in price. The average time that homes are staying on the market was 78 last month which is 11 days more than September. Overall our numbers are not changing that much in comparing the last 2 months. This is typically a slow time in the real estate market but with the holiday season among us I think we will start to see an improvement in the market.

I hope you all had a wonderful month of October and looking forward to Thanksgiving as I know I am! If you or anyone you know is looking to buy, sell, or would just like a complimentary market valuation of your home, please don’t hesitate to contact my office and I would be more than happy to help or simply answer any questions you may have.

By: Stefan West – Owner and Broker of West Realty