Is Lake Elsinore Hills, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lake Elsinore Hills has remained a Seller's Market.
Housing Prices in Lake Elsinore Hills, CA
How much do homes in Lake Elsinore Hills, CA cost?
Median Sold Price
$620,000
$256/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake Elsinore Hills was $620,000 in April 2024, up 5.1% from last year, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $410.9K | $425.5K | +3.5% |
3 Bedrooms | $538.5K | $545K | +1.2% |
4 Bedrooms | $590K | $620K | +5.1% |
5+ Bedrooms | $650K | $680K | +4.6% |
Summary: Lake Elsinore Hills housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 4.6%.
Median Sold Price Compared To Nearby Neighborhoods
Lake Elsinore Hills | $590K | $620K | +5.1% |
East Lake District | $570K | $575K | +0.9% |
Housing Supply in Lake Elsinore Hills, CA
How many homes are available in Lake Elsinore Hills, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
98 | 100 | +2.0% |
Summary: The Lake Elsinore Hills real estate market had 100 homes for sale in April 2024, a 2.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 1 | -66.7% |
3 Bedrooms | 18 | 19 | +5.6% |
4 Bedrooms | 52 | 52 | 0.0% |
5+ Bedrooms | 25 | 28 | +12.0% |
Summary: The Lake Elsinore Hills housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes increased by 5.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 12%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
18 | 29 | +61.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Lake Elsinore Hills in April 2024, up by 61.1% month-over-month. Of the 29 sold homes, 17% were sold under asking, 24% were sold at asking, and 59% were sold over asking.
Days on Market for Lake Elsinore Hills, CA
How long does it take to sell a home in Lake Elsinore Hills, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
50 Days | 25 Days | -48.4% |
Summary: Homes in Lake Elsinore Hills had an average of 25 days on market in Apr 2024, down by 48.4% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 29 homes were sold in Lake Elsinore Hills; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.