Is Elsinore Valley, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elsinore Valley is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Elsinore Valley has remained a Seller's Market.

Key Takeaway

Elsinore Valley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Elsinore Valley, CA

How much do homes in Elsinore Valley, CA cost?

Median Sold Price

$626,365

$320/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$33,832(+5.7%)

Key Takeaway

Homes in Elsinore Valley have sold for 5.7% more than they did a year ago.

Summary: The median home sold price in Elsinore Valley was $626,365 in May 2024, up 5.7% from last year, and the median price per square foot was $320.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $351.5K$395K
+12.4%
2 $495K$535K
+8.1%
3 $550K$575K
+4.5%
4 $625K$650K
+4.0%
5+ $728.5K$779K
+6.9%

Summary: Elsinore Valley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.4%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 6.9%.

Median Sold Price Compared To Nearby Cities

Elsinore Valley
+5.7%
Lake Mathews
+5.7%
Quail Valley
+4.9%
Lake Elsinore
+2.2%
Canyon Lake
+1.4%

Housing Supply in Elsinore Valley, CA

How many homes are available in Elsinore Valley, CA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
452432-4.4%

Summary: The Elsinore Valley real estate market had 432 homes for sale in May 2024, a 4.4% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 35
+66.7%
2 5263
+21.2%
3 152140
-7.9%
4 168148
-11.9%
5+ 7776
-1.3%

Summary: The Elsinore Valley housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 21.2%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes decreased by 11.9%, and 5+ bedroom homes decreased by 1.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
118113-4.2%

Asking Price vs. Sold Price

37 Homes Were Sold
Under Asking

30 Homes Were Sold
At Asking

46 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elsinore Valley, you could pay more than the asking price. 40.7% of homes here sold above asking price last month.

Summary: A total of 113 homes were sold or pending in Elsinore Valley in May 2024, down by 4.2% month-over-month. Of the 113 sold homes, 33% were sold under asking, 27% were sold at asking, and 41% were sold over asking.

Days on Market for Elsinore Valley, CA

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

Average Sale Time

May 2023May 2024CHANGE
51 Days31 Days-39.4%

Summary: Homes in Elsinore Valley had an average of 31 days on market in May 2024, down by 39.4% compared to last year.

Breakdown of Home Sale Times

74 Homes Were Sold
Under 30 Days

31 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 113 homes were sold in Elsinore Valley; 65% of homes were sold within 30 days, 27% 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 12 Days Ago

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