Is Perris Valley, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Perris Valley has remained a Seller's Market.
Key Takeaway
Perris Valley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Perris Valley, CA
How much do homes in Perris Valley, CA cost?
Median Sold Price
$554,768
$277/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Perris Valley have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Perris Valley was $554,768 in May 2024, up 3.4% from last year, and the median price per square foot was $277.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $215K | +16.2% |
| 2 Bedrooms | $380.7K | $379.9K | -0.2% |
| 3 Bedrooms | $510K | $525K | +2.9% |
| 4 Bedrooms | $575.2K | $600K | +4.3% |
| 5+ Bedrooms | $630K | $656.6K | +4.2% |
Summary: Perris Valley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.2%, 2 bedroom homes decreased by 0.2%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 4.2%.
Median Sold Price Compared To Nearby Cities
| Perris | $502.2K | $530.2K | +5.6% |
| Quail Valley | $629.1K | $660K | +4.9% |
| Perris Valley | $536.7K | $554.7K | +3.4% |
| Menifee | $539.9K | $557.5K | +3.3% |
| Canyon Lake | $659.9K | $669K | +1.4% |
Housing Supply in Perris Valley, CA
How many homes are available in Perris Valley, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,026 | 1,073 | +4.6% |
Summary: The Perris Valley real estate market had 1,073 homes for sale in May 2024, a 4.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 175 | 185 | +5.7% |
| 3 Bedrooms | 362 | 378 | +4.4% |
| 4 Bedrooms | 335 | 333 | -0.6% |
| 5+ Bedrooms | 150 | 172 | +14.7% |
Summary: The Perris Valley housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 4.4%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 14.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 240 | 282 | +17.5% |
Asking Price vs. Sold Price
91 Homes Were Sold
Under Asking
69 Homes Were Sold
At Asking
121 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Perris Valley, you could pay more than the asking price. 43.1% of homes here sold above asking price last month.
Summary: A total of 282 homes were sold or pending in Perris Valley in May 2024, up by 17.5% month-over-month. Of the 281 sold homes, 32% were sold under asking, 25% were sold at asking, and 43% were sold over asking.
Days on Market for Perris Valley, CA
How long does it take to sell a home in Perris Valley, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 39 Days | -9.6% |
Summary: Homes in Perris Valley had an average of 39 days on market in May 2024, down by 9.6% compared to last year.
Breakdown of Home Sale Times
178 Homes Were Sold
Under 30 Days
70 Homes Were Sold
In 30 - 90 Days
34 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Perris Valley are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 282 homes were sold in Perris Valley; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.