Is Banning, CA a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Banning is a seller's market


Difference Since August 2022

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.

Housing Prices

How much do homes in Banning, CA cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since August 2022


Key Takeaway

Homes in Banning have sold for 2.6% less than they did a year ago.

Summary: The median home sold price in Banning was $375,000 in August 2023, down 2.6% from last year, and the median price per square foot was $257.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $271.5K$160K
2 $366K$350.6K
3 $381.3K$395K
4 $465K$524.3K
5+ $625K$440K

Summary: Banning housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 41.1%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes decreased by 29.6%.

Median Sold Price Compared To Nearby Cities

Forest Falls
Big Bear
San Gorgonio Pass

Housing Supply

How many homes are available in Banning, CA?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE

Summary: The Banning real estate market had 139 homes for sale in August 2023, a 6.1% decrease compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 00
2 8067
3 4849
4 1620
5+ 43

Summary: The Banning housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.3%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Banning, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 35 homes were sold or pending in Banning in August 2023, down by 23.9% month-over-month. Of the 35 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.

Days on Market

How long does it take to sell a home in Banning, CA?

Average Sale Time

Aug 2022Aug 2023CHANGE
31 Days47 Days+51.7%

Summary: Homes in Banning had an average of 47 days on market in Aug 2023, up by 51.7% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Banning are selling fast, if you're buying plan to act quickly.

Summary: During August 2023, 35 homes were sold in Banning; 57% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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Nearby Markets

What housing markets are near Banning, CA?