Is Canyon Lake, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Canyon Lake has remained a Seller's Market.
Housing Prices in Canyon Lake, CA
How much do homes in Canyon Lake, CA cost?
Median Sold Price
$660,000
$347/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Canyon Lake was $660,000 in March 2024, down 0.8% from last year, and the median price per square foot was $347.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $432.8K | $500K | +15.5% |
3 Bedrooms | $630K | $647.9K | +2.8% |
4 Bedrooms | $755K | $751K | -0.5% |
5+ Bedrooms | $1.0M | $975K | -8.0% |
Summary: Canyon Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.5%, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 8%.
Median Sold Price Compared To Nearby Cities
Quail Valley | $625K | $653K | +4.5% |
Perris Valley | $540.1K | $550K | +1.8% |
Menifee | $547.9K | $550K | 0.4% |
Lake Elsinore | $570.1K | $570K | 0% |
Canyon Lake | $665K | $660K | -0.8% |
Housing Supply in Canyon Lake, CA
How many homes are available in Canyon Lake, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
63 | 70 | +11.1% |
Summary: The Canyon Lake real estate market had 70 homes for sale in March 2024, a 11.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 8 | 7 | -12.5% |
3 Bedrooms | 28 | 32 | +14.3% |
4 Bedrooms | 17 | 22 | +29.4% |
5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Canyon Lake housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 13 | -13.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Canyon Lake in March 2024, down by 13.3% month-over-month. Of the 13 sold homes, 46% were sold under asking, 23% were sold at asking, and 31% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
64 Days | 44 Days | -30.4% |
Summary: Homes in Canyon Lake had an average of 44 days on market in Mar 2024, down by 30.4% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in Canyon Lake; 62% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.