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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Menifee is a seller's market

Buyer's
Market

Difference Since October 2021

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.

How much do homes in Menifee, CA cost?

Median Sold Price

$550,544

$277/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$81,281(+17.3%)

Key Takeaway

Homes in Menifee have sold for 17.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $148.5K$240K
+61.6%
2 $326.9K$375K
+14.7%
3 $450K$526K
+16.9%
4 $530K$600K
+13.2%
5+ $575K$661.9K
+15.1%

Median Sold Price Compared To Nearby Cities

Menifee
+17.3%
Perris Valley
+16.9%
Quail Valley
+13.4%
Wildomar
+12.7%
Canyon Lake
+10.1%

How many homes are available in Menifee, CA?

Number of Homes For Sale

Sep 2022Oct 2022%
555510-8.1%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 33
0.0%
2 139140
+0.7%
3 171151
-11.7%
4 175154
-12.0%
5+ 6762
-7.5%

Number of Homes Sold

Sep 2022Oct 2022%
14790-38.8%

Asking Price vs. Sold Price

43 Homes Were Sold
Under Asking

23 Homes Were Sold
At Asking

24 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. 47.8% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
19 Days36 Days+92.3%

Breakdown of Home Sale Times

43 Homes Were Sold
Under 30 Days

38 Homes Were Sold
In 30 - 90 Days

9 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Menifee, CA

Number of homes for sale in Menifee, CA real estate market have reached 510. In October 2022 in Menifee, CA there were 8.1% less homes for sale than in September 2022. While the average time on the market in October 2022 was 36 days, the median list price was $550,544. Listing prices have changed in this real estate market between September 2022 and October 2022: 1 bedroom properties became 61.6% more expensive, 2 bedrooms properties prices increased by 14.7%, prices of 3 bedrooms properties went up by 16.9%, prices of 4 bedrooms properties increased by 13.2%, 5 bedrooms properties prices increased by 15.1%. Volume of homes for sale in this real estate market have seen the following changes: number of 1 bedroom homes remained the same, number of 2 bedrooms homes increased by 0.7%, volume of 3 bedrooms homes went down by 11.7%, number of 4 bedrooms homes decreased by 12%, volume of 5 bedrooms homes went down by 7.5%. Over 24 listings were sold over their listed price in October 2022 in Menifee, CA. In the same period over 43 listings were sold below the listed price and 23 listings were sold for the listed price.

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