$8,776 Closing Credit*
$739,000
1,780 SqFt
3 Beds
•2 Full Baths
David Prewitt, Listing Office: Dream Home Estates, Inc.
Is Canyon Lake, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Canyon Lake was a Seller's Market.
Key Takeaway
Canyon Lake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Canyon Lake, CA
How much do homes in Canyon Lake, CA cost?
Median Sold Price
$665,000
$361/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
-$2,000(-0.3%)
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 $665,000 in September 2024, down 0.3% from last year, and the median price per square foot was $361.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $380K | N/A |
| 2 Bedrooms | $454.4K | $560K | +23.2% |
| 3 Bedrooms | $642.9K | $650K | +1.1% |
| 4 Bedrooms | $730K | $790K | +8.2% |
| 5+ Bedrooms | $877.5K | $1.1M | +30.7% |
Summary: Canyon Lake housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.2%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 30.7%.
Median Sold Price Compared To Nearby Cities
| Menifee | $535K | $579.1K | +8.3% |
| Perris Valley | $535.2K | $569.9K | +6.5% |
| Lake Elsinore | $560K | $585K | +4.5% |
| Quail Valley | $650K | $658.5K | +1.3% |
| Canyon Lake | $667K | $665K | -0.3% |
Housing Supply in Canyon Lake, CA
How many homes are available in Canyon Lake, CA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 79 | 90 | +13.9% |
Summary: The Canyon Lake real estate market had 90 homes for sale in September 2024, a 13.9% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 38 | 39 | +2.6% |
| 4 Bedrooms | 20 | 26 | +30.0% |
| 5+ Bedrooms | 10 | 15 | +50.0% |
Summary: The Canyon Lake housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Canyon Lake, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Canyon Lake in September 2024, down by 7.7% month-over-month. Of the 12 sold homes, 58% were sold under asking, 17% were sold at asking, and 25% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 29 Days | 37 Days | +25.3% |
Summary: Homes in Canyon Lake had an average of 37 days on market in Sep 2024, up by 25.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Canyon Lake are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 12 homes were sold in Canyon Lake; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% 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.