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 September 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

$635,274

$325/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$45,774(+7.8%)

Key Takeaway

Homes in Elsinore Valley have sold for 7.8% more than they did a year ago.

Summary: The median home sold price in Elsinore Valley was $635,274 in September 2024, up 7.8% from last year, and the median price per square foot was $325.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $305K$365K
+19.7%
2 $492.5K$572.5K
+16.2%
3 $550K$587.7K
+6.9%
4 $615.2K$655K
+6.5%
5+ $712K$779K
+9.4%

Summary: Elsinore Valley housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.7%, 2 bedroom homes increased by 16.2%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 9.4%.

Median Sold Price Compared To Nearby Cities

Elsinore Valley
+7.8%
Lake Elsinore
+4.5%
Lake Mathews
+4.0%
Quail Valley
+1.3%
Canyon Lake
-0.3%

Housing Supply in Elsinore Valley, CA

How many homes are available in Elsinore Valley, CA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
497474-4.6%

Summary: The Elsinore Valley real estate market had 474 homes for sale in September 2024, a 4.6% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 73
-57.1%
2 5654
-3.6%
3 163156
-4.3%
4 193179
-7.3%
5+ 7882
+5.1%

Summary: The Elsinore Valley housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 57.1%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 7.3%, and 5+ bedroom homes increased by 5.1%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
11892-22.0%

Asking Price vs. Sold Price

34 Homes Were Sold
Under Asking

23 Homes Were Sold
At Asking

35 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. 38% of homes here sold above asking price last month.

Summary: A total of 92 homes were sold or pending in Elsinore Valley in September 2024, down by 22.0% month-over-month. Of the 92 sold homes, 37% were sold under asking, 25% were sold at asking, and 38% 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

Sep 2023Sep 2024CHANGE
26 Days38 Days+43.5%

Summary: Homes in Elsinore Valley had an average of 38 days on market in Sep 2024, up by 43.5% compared to last year.

Breakdown of Home Sale Times

47 Homes Were Sold
Under 30 Days

37 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 September 2024, 92 homes were sold in Elsinore Valley; 51% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 9% 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 30 Days Ago

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