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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hemet-San Jacinto is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Hemet-San Jacinto, CA

How much do homes in Hemet-San Jacinto, CA cost?

Median Sold Price

$430,451

$255/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$4,158(-1.0%)

Key Takeaway

Homes in Hemet-San Jacinto have sold for 1% less than they did a year ago.

Summary: The median home sold price in Hemet-San Jacinto was $430,451 in February 2024, down 1% from last year, and the median price per square foot was $255.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $170.2K$180.5K
+6.1%
2 $320K$315K
-1.6%
3 $433.4K$430K
-0.8%
4 $490K$489.3K
-0.1%
5+ $535K$525K
-1.9%

Summary: Hemet-San Jacinto housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.1%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes decreased by 1.9%.

Median Sold Price Compared To Nearby Cities

Hemet
+2.7%
Perris Valley
0.5%
Hemet-San Jacinto
-1.0%
Beaumont
-1.2%
San Jacinto
-1.4%

Housing Supply in Hemet-San Jacinto, CA

How many homes are available in Hemet-San Jacinto, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
496485-2.2%

Summary: The Hemet-San Jacinto real estate market had 485 homes for sale in February 2024, a 2.2% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 87
-12.5%
2 141147
+4.3%
3 181182
+0.6%
4 130117
-10.0%
5+ 3632
-11.1%

Summary: The Hemet-San Jacinto housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 11.1%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
108111+2.8%

Asking Price vs. Sold Price

33 Homes Were Sold
Under Asking

32 Homes Were Sold
At Asking

46 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hemet-San Jacinto, you could pay more than the asking price. 41.4% of homes here sold above asking price last month.

Summary: A total of 111 homes were sold or pending in Hemet-San Jacinto in February 2024, up by 2.8% month-over-month. Of the 111 sold homes, 30% were sold under asking, 29% were sold at asking, and 41% were sold over asking.

Days on Market for Hemet-San Jacinto, CA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
59 Days42 Days-27.4%

Summary: Homes in Hemet-San Jacinto had an average of 42 days on market in Feb 2024, down by 27.4% compared to last year.

Breakdown of Home Sale Times

59 Homes Were Sold
Under 30 Days

39 Homes Were Sold
In 30 - 90 Days

13 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 111 homes were sold in Hemet-San Jacinto; 53% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 12% 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 3 Days Ago

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