Is Canyon Lake, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Canyon Lake is a seller's market

Buyer's
Market

Difference Since June 2023

Since last year, Canyon Lake has remained a Seller'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

$675,000

$355/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$8,000(+1.2%)

Key Takeaway

Homes in Canyon Lake have sold for 1.2% more than they did a year ago.

Summary: The median home sold price in Canyon Lake was $675,000 in June 2024, up 1.2% from last year, and the median price per square foot was $355.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 -$380K
N/A
2 $416.8K$530K
+27.2%
3 $630K$656.5K
+4.2%
4 $747.4K$799.9K
+7.0%
5+ $1.0M$1.1M
+8.2%

Summary: Canyon Lake housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27.2%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 8.2%.

Median Sold Price Compared To Nearby Cities

Quail Valley
+4.4%
Menifee
+4.1%
Perris Valley
+3.9%
Lake Elsinore
+3.4%
Canyon Lake
+1.2%

Housing Supply in Canyon Lake, CA

How many homes are available in Canyon Lake, CA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
79790.0%

Summary: The Canyon Lake real estate market had 79 homes for sale in June 2024, the same as May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 11
0.0%
2 88
0.0%
3 3637
+2.8%
4 2320
-13.0%
5+ 1113
+18.2%

Summary: The Canyon Lake housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 13%, and 5+ bedroom homes increased by 18.2%.

Number of Homes Sold

May 2024Jun 2024CHANGE
2115-28.6%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Canyon Lake, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Canyon Lake in June 2024, down by 28.6% month-over-month. Of the 15 sold homes, 60% were sold under asking, 13% were sold at asking, and 27% 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

Jun 2023Jun 2024CHANGE
30 Days39 Days+27.9%

Summary: Homes in Canyon Lake had an average of 39 days on market in Jun 2024, up by 27.9% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During June 2024, 15 homes were sold in Canyon Lake; 53% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 7% 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 24 Days Ago

Newest Listings in Canyon Lake, CA

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