Is Hemet, CA a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Hemet is a seller's market


Difference Since August 2022

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

Key Takeaway

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

Housing Prices

How much do homes in Hemet, CA cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since August 2022


Key Takeaway

Homes in Hemet have sold for 2.3% more than they did a year ago.

Summary: The median home sold price in Hemet was $420,055 in August 2023, up 2.3% from last year, and the median price per square foot was $250.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $150K$181.5K
2 $321.6K$310K
3 $420K$425K
4 $480K$480K
5+ $520K$525K

Summary: Hemet housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 21%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes increased by 1.2%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 1%.

Median Sold Price Compared To Nearby Cities

Perris Valley
Hemet-San Jacinto
San Jacinto

Housing Supply

How many homes are available in Hemet, CA?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE

Summary: The Hemet real estate market had 480 homes for sale in August 2023, a 3.4% increase compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 33
2 175182
3 168173
4 8891
5+ 3031

Summary: The Hemet housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 3.3%.

Number of Homes Sold

Jul 2023Aug 2023CHANGE

Asking Price vs. Sold Price

41 Homes Were Sold
Under Asking

24 Homes Were Sold
At Asking

62 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hemet, you could pay more than the asking price. 48.8% of homes here sold above asking price last month.

Summary: A total of 127 homes were sold or pending in Hemet in August 2023, up by 9.5% month-over-month. Of the 127 sold homes, 32% were sold under asking, 19% were sold at asking, and 49% were sold over asking.

Days on Market

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

Average Sale Time

Aug 2022Aug 2023CHANGE
29 Days30 Days+3.8%

Summary: Homes in Hemet had an average of 30 days on market in Aug 2023, up by 3.8% compared to last year.

Breakdown of Home Sale Times

88 Homes Were Sold
Under 30 Days

32 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2023, 127 homes were sold in Hemet; 69% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 6% 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 26 Days Ago

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Nearby Markets

What housing markets are near Hemet, CA?