Is Banning, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2021
Since last year, Banning has remained a Seller's Market.
Key Takeaway
Banning is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in Banning, CA cost?
Median Sold Price
$365,125
$256/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2021
+$76,185(+26.4%)
Key Takeaway
Homes in Banning have sold for 26.4% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | Apr 2021 | Apr 2022 | % |
|---|---|---|---|
| 1 Bedroom | $163.2K | $271.5K | +66.3% |
| 2 Bedrooms | $275.7K | $355K | +28.7% |
| 3 Bedrooms | $297.7K | $360K | +20.9% |
| 4 Bedrooms | $330.2K | $432.5K | +30.9% |
| 5+ Bedrooms | $417.5K | $590K | +41.3% |
Median Sold Price Compared To Nearby Cities
| % | |
|---|---|
| Beaumont | +29.1% |
| Banning | +26.4% |
| San Gorgonio Pass | +26.4% |
How many homes are available in Banning, CA?
Number of Homes For Sale
| Mar 2022 | Apr 2022 | % |
|---|---|---|
| 161 | 155 | -3.7% |
Homes For Sale By Bedroom Count
| # BEDS | Mar 2022 | Apr 2022 | % |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 79 | 79 | 0.0% |
| 3 Bedrooms | 54 | 57 | +5.6%  |
| 4 Bedrooms | 21 | 15 | -28.6% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Number of Homes Sold
| Mar 2022 | Apr 2022 | % |
|---|---|---|
| 48 | 45 | -6.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Banning, you could pay more than the asking price. 51.1% of homes here sold above asking price last month.
Average Sale Time
| Apr 2021 | Apr 2022 | % |
|---|---|---|
| 23 Days | 18 Days | -18.3% |
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Banning are selling fast, if you're buying plan to act quickly.
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. 