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

Housing Market Conditions



Gauge showing Lake Elsinore is a seller's market


Difference Since January 2023

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

Key Takeaway

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

Housing Prices in Lake Elsinore, CA

How much do homes in Lake Elsinore, CA cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since January 2023


Key Takeaway

Homes in Lake Elsinore have sold for 2.3% less than they did a year ago.

Summary: The median home sold price in Lake Elsinore was $565,925 in January 2024, down 2.3% from last year, and the median price per square foot was $284.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $310K$377.5K
2 $360K$372.4K
3 $536K$529K
4 $590K$586.5K
5+ $647K$650K

Summary: Lake Elsinore housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.8%, 2 bedroom homes increased by 3.5%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 0.5%.

Median Sold Price Compared To Nearby Cities

Quail Valley
Elsinore Valley
Canyon Lake
Lake Elsinore

Housing Supply in Lake Elsinore, CA

How many homes are available in Lake Elsinore, CA?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE

Summary: The Lake Elsinore real estate market had 198 homes for sale in January 2024, a 4.2% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 34
2 1811
3 6666
4 6678
5+ 3739

Summary: The Lake Elsinore housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 38.9%, 3 bedroom homes remained the same, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 5.4%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Elsinore, you may be able to get a good deal. 35% of homes here sold below asking price last month.

Summary: A total of 40 homes were sold or pending in Lake Elsinore in January 2024, down by 4.8% month-over-month. Of the 40 sold homes, 35% were sold under asking, 33% were sold at asking, and 33% 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

Jan 2023Jan 2024CHANGE
54 Days45 Days-16.0%

Summary: Homes in Lake Elsinore had an average of 45 days on market in Jan 2024, down by 16% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Lake Elsinore has remained consistent over time.

Summary: During January 2024, 40 homes were sold in Lake Elsinore; 40% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 15% 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 21 Days Ago

Newest Listings in Lake Elsinore, CA

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