Menifee Market Trends Report January 2016
It’s the start of a new year and I couldn’t be more excited to see what 2016 has in store. I hope you all had a wonderful holiday season surround by family and friends. In this month’s Menifee Market Trends Report January 2016, I will be pulling the numbers for the current month of January and comparing them to December. As always my stats are based on single family, detached residences, with 3+ bedrooms and 2+ baths.
• Active Number of Menifee Homes in January: 169
• Average Menifee Home Price for January: $362,362
• Number of December Closes in the City of Menifee: 106
• Average Sold Price of Menifee Homes in December: $332,450
• Average Days on the Market: 68
The city of Menifee has decreased in the amount of active listing this month. We are currently seeing a total of 169 homes on the market and last month at this time we had 223. That shows that we a down this month of 24{c8f127ee0ae8e843244cc4fdd37fe5c6d1494d04024f10fe6afe3d18700f5f1b} in inventory. The average listed price of these homes has increased very slightly this month in comparison to December. We were seeing $358,539 and currently it’s averaging about $362,362.
Looking at the Menifee Market Trends Report January 2016, I can see that the city of Menifee has increased the amount of homes that have sold to 121 vs. Novembers closes of 106. That’s not a lot but it does show us that the numbers are improving slightly in Menifee. The average amount that homes are selling for has gone up about $10,000. Homes were staying on the market a little longer in December than in November by 4 days last month.
If you or anyone you know is looking to buy or sell in the area, please give us a call at West Realty and we would be more than happy to help with your real estate needs. My team and I know this area well and can provide you with a complimentary market analysis of your home or set you up on a search that meets with your criteria. Be sure to check back with me in the months to come for up to date market trend reports in your area.
By: Stefan West – Owner/Broker of West Realty