Temecula Market Trends January 2016

Happy New Year!!! It’s the start of 2016 and with that brings endless possibilities and new adventures. In this month’s Temecula Market Trends January 2016 I will be pulling the numbers from 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.

• Number of Active Temecula Listings in January: 264
• Average Temecula Home Price in January: $523,565
• Number of Closes in December: 139
• Average Sold Price of Temecula Homes in December: $451,118
• Average Days on the Market: 72

Well looking right away I see that we are down quite a few homes this month. There are only 264 homes currently on the market and last month there were 342. That’s a difference of -22{c8f127ee0ae8e843244cc4fdd37fe5c6d1494d04024f10fe6afe3d18700f5f1b}! We usually tend to see this every year at this time with the real estate market. With the holidays people tend to not want to list until after the New Year. We should start to see an increase in inventory over the next couple of months as we get closer to the spring. The average price that homes are being listed for has only decreased from $528,492 down to $523,565 this month.

Moving onto what is selling in Temecula. I can see by looking at the Temecula Market Trends January 2016 there were 131 homes that sold in November and in December there were 139. That is only a slight increase. The same happened to the average sold price on Temecula. November was at an average of $449,330 and then in December we saw an average of $451,118. The day’s homes are stating on the market as only increased by 5 days last month.

If you or anyone you know is looking to buy or sell a home in the Temecula Valley, please give West Realty a call and we would be more than happy to assist you. If looking to sell then we can provide you with a complimentary current market valuation of your home. If wanting to purchase a home, we can set you up on a search to receive listings that are specific to your needs.

By: Stefan West – Owner/Broker of West Realty