Is Lake Elsinore, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Lake Elsinore has remained a Seller's Market.
Housing Prices in Lake Elsinore, CA
How much do homes in Lake Elsinore, CA cost?
Median Sold Price
$578,866
$293/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Lake Elsinore was $578,866 in June 2024, up 3.4% from last year, and the median price per square foot was $293.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $285K | $370K | +29.8% |
2 Bedrooms | $381.5K | $399K | +4.6% |
3 Bedrooms | $524.2K | $540K | +3.0% |
4 Bedrooms | $580.6K | $600K | +3.3% |
5+ Bedrooms | $640K | $679.9K | +6.2% |
Summary: Lake Elsinore housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.8%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 6.2%.
Median Sold Price Compared To Nearby Cities
Elsinore Valley | $590K | $629K | +6.6% |
Wildomar | $602K | $639.3K | +6.2% |
Quail Valley | $636.2K | $664K | +4.4% |
Lake Elsinore | $560K | $578.8K | +3.4% |
Canyon Lake | $667K | $675K | +1.2% |
Housing Supply in Lake Elsinore, CA
How many homes are available in Lake Elsinore, CA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
265 | 276 | +4.2% |
Summary: The Lake Elsinore real estate market had 276 homes for sale in June 2024, a 4.2% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 7 | +40.0% |
2 Bedrooms | 20 | 20 | 0.0% |
3 Bedrooms | 94 | 95 | +1.1% |
4 Bedrooms | 98 | 110 | +12.2% |
5+ Bedrooms | 48 | 44 | -8.3% |
Summary: The Lake Elsinore housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes remained the same, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes decreased by 8.3%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
70 | 59 | -15.7% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Summary: A total of 59 homes were sold or pending in Lake Elsinore in June 2024, down by 15.7% month-over-month. Of the 59 sold homes, 34% were sold under asking, 22% were sold at asking, and 44% were sold over asking.
Days on Market for Lake Elsinore, CA
How long does it take to sell a home in Lake Elsinore, CA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
31 Days | 39 Days | +25.0% |
Summary: Homes in Lake Elsinore had an average of 39 days on market in Jun 2024, up by 25% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During June 2024, 59 homes were sold in Lake Elsinore; 51% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.