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

Housing Market Conditions



Gauge showing Menifee is a seller's market


Difference Since November 2022

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

Key Takeaway

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

Housing Prices in Menifee, CA

How much do homes in Menifee, CA cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since November 2022


Key Takeaway

Homes in Menifee have sold for 3.3% less than they did a year ago.

Summary: The median home sold price in Menifee was $536,419 in November 2023, down 3.3% from last year, and the median price per square foot was $271.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $220K$172.4K
2 $376.9K$365K
3 $530K$520K
4 $600.3K$610K
5+ $660.4K$655K

Summary: Menifee housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 21.6%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 0.8%.

Median Sold Price Compared To Nearby Cities

Quail Valley
Canyon Lake
Perris Valley

Housing Supply in Menifee, CA

How many homes are available in Menifee, CA?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE

Summary: The Menifee real estate market had 409 homes for sale in November 2023, a 6.8% decrease compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 62
2 103106
3 145122
4 129127
5+ 5652

Summary: The Menifee housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 2.9%, 3 bedroom homes decreased by 15.9%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes decreased by 7.1%.

Number of Homes Sold

Oct 2023Nov 2023CHANGE

Asking Price vs. Sold Price

35 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

21 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Menifee, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 77 homes were sold or pending in Menifee in November 2023, down by 36.9% month-over-month. Of the 77 sold homes, 45% were sold under asking, 27% were sold at asking, and 27% were sold over asking.

Days on Market for Menifee, CA

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

Average Sale Time

Nov 2022Nov 2023CHANGE
36 Days35 Days-1.2%

Summary: Homes in Menifee had an average of 35 days on market in Nov 2023, down by 1.2% compared to last year.

Breakdown of Home Sale Times

42 Homes Were Sold
Under 30 Days

29 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2023, 77 homes were sold in Menifee; 55% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 8% 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 2 Days Ago

Newest Listings in Menifee, CA

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