Is Canyon Lake, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Canyon Lake was a Buyer's Market.
Key Takeaway
Canyon Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Canyon Lake, CA
How much do homes in Canyon Lake, CA cost?
Median Sold Price
$661,750
$327/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
The sold price of homes in Canyon Lake has remained the same since last year.
Summary: The median home sold price in Canyon Lake was $661,750 in November 2023, up 0.2% from last year, and the median price per square foot was $327.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $500K | $454.4K | -9.1% |
| 3 Bedrooms | $622K | $642.9K | +3.4% |
| 4 Bedrooms | $776K | $730K | -5.9% |
| 5+ Bedrooms | $1.0M | $825K | -22.2% |
Summary: Canyon Lake housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 3.4%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes decreased by 22.2%.
Median Sold Price Compared To Nearby Cities
| Quail Valley | $616.5K | $650K | +5.4% |
| Canyon Lake | $660.6K | $661.7K | 0.2% |
| Perris Valley | $547.1K | $539.8K | -1.3% |
| Lake Elsinore | $575K | $561.7K | -2.3% |
| Menifee | $554.9K | $536.4K | -3.3% |
Housing Supply in Canyon Lake, CA
How many homes are available in Canyon Lake, CA?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 64 | 57 | -10.9% |
Summary: The Canyon Lake real estate market had 57 homes for sale in November 2023, a 10.9% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 30 | 22 | -26.7% |
| 4 Bedrooms | 21 | 23 | +9.5% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Canyon Lake housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 26.7%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 15 | 11 | -26.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Canyon Lake, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Canyon Lake in November 2023, down by 26.7% month-over-month. Of the 11 sold homes, 73% were sold under asking, 18% were sold at asking, and 9% were sold over asking.
Days on Market for Canyon Lake, CA
How long does it take to sell a home in Canyon Lake, CA?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 53 Days | 65 Days | +20.9% |
Summary: Homes in Canyon Lake had an average of 65 days on market in Nov 2023, up by 20.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Canyon Lake has remained consistent over time.
Summary: During November 2023, 11 homes were sold in Canyon Lake; 18% of homes were sold within 30 days, 64% of homes were sold within 30 to 90 days, and 18% 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.