Is Menifee Lakes, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Menifee Lakes was a Seller's Market.
Housing Prices in Menifee Lakes, CA
How much do homes in Menifee Lakes, CA cost?
Median Sold Price
$560,000
$296/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Menifee Lakes was $560,000 in April 2024, down 0.4% from last year, and the median price per square foot was $296.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $517.5K | $512.4K | -1.0% |
3 Bedrooms | $540.5K | $540K | -0.1% |
4 Bedrooms | $585K | $597K | +2.1% |
5+ Bedrooms | $615K | $657K | +6.8% |
Summary: Menifee Lakes 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 decreased by 1%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 6.8%.
Housing Supply in Menifee Lakes, CA
How many homes are available in Menifee Lakes, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
65 | 62 | -4.6% |
Summary: The Menifee Lakes real estate market had 62 homes for sale in April 2024, a 4.6% decrease 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 | 14 | 15 | +7.1% |
3 Bedrooms | 34 | 31 | -8.8% |
4 Bedrooms | 12 | 10 | -16.7% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Menifee Lakes 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 increased by 7.1%, 3 bedroom homes decreased by 8.8%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
21 | 10 | -52.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Menifee Lakes in April 2024, down by 52.4% month-over-month. Of the 10 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Menifee Lakes, CA
How long does it take to sell a home in Menifee Lakes, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
52 Days | 28 Days | -45.7% |
Summary: Homes in Menifee Lakes had an average of 28 days on market in Apr 2024, down by 45.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 10 homes were sold in Menifee Lakes; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.