Is Murrieta, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Murrieta has remained a Seller's Market.
Housing Prices in Murrieta, CA
How much do homes in Murrieta, CA cost?
Median Sold Price
$653,768
$299/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Murrieta was $653,768 in February 2024, up 3% from last year, and the median price per square foot was $299.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $335K | $315K | -6.0% |
2 Bedrooms | $455K | $475K | +4.4% |
3 Bedrooms | $571K | $581.5K | +1.9% |
4 Bedrooms | $670K | $690.1K | +3.0% |
5+ Bedrooms | $775K | $750.6K | -3.1% |
Summary: Murrieta housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 3.1%.
Median Sold Price Compared To Nearby Cities
Temecula | $695.3K | $722.4K | +3.9% |
Murrieta | $635K | $653.7K | +3.0% |
Wildomar | $614.3K | $625K | +1.7% |
Perris Valley | $544.9K | $547.4K | 0.5% |
Menifee | $550K | $547.5K | -0.4% |
Housing Supply in Murrieta, CA
How many homes are available in Murrieta, CA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
378 | 404 | +6.9% |
Summary: The Murrieta real estate market had 404 homes for sale in February 2024, a 6.9% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 50 | 52 | +4.0% |
3 Bedrooms | 107 | 107 | 0.0% |
4 Bedrooms | 126 | 144 | +14.3% |
5+ Bedrooms | 94 | 100 | +6.4% |
Summary: The Murrieta housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 4%, 3 bedroom homes remained the same, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 6.4%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
65 | 109 | +67.7% |
Asking Price vs. Sold Price
42 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
43 Homes Were Sold
Over Asking
Summary: A total of 109 homes were sold or pending in Murrieta in February 2024, up by 67.7% month-over-month. Of the 109 sold homes, 39% were sold under asking, 22% were sold at asking, and 39% were sold over asking.
Days on Market for Murrieta, CA
How long does it take to sell a home in Murrieta, CA?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
61 Days | 38 Days | -38.4% |
Summary: Homes in Murrieta had an average of 38 days on market in Feb 2024, down by 38.4% compared to last year.
Breakdown of Home Sale Times
61 Homes Were Sold
Under 30 Days
34 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During February 2024, 109 homes were sold in Murrieta; 56% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.