Is Murrieta, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$660,000
$300/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Murrieta was $660,000 in March 2024, up 4.4% from last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $335K | $315K | -6.0% |
2 Bedrooms | $455K | $480K | +5.5% |
3 Bedrooms | $570K | $589.9K | +3.5% |
4 Bedrooms | $670K | $695K | +3.7% |
5+ Bedrooms | $772K | $760K | -1.6% |
Summary: Murrieta housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 1.6%.
Median Sold Price Compared To Nearby Cities
Temecula | $692.8K | $725.2K | +4.7% |
Murrieta | $632.2K | $660K | +4.4% |
Wildomar | $609.1K | $628.7K | +3.2% |
Perris Valley | $540.1K | $550K | +1.8% |
Menifee | $547.9K | $550K | 0.4% |
Housing Supply in Murrieta, CA
How many homes are available in Murrieta, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
426 | 421 | -1.2% |
Summary: The Murrieta real estate market had 421 homes for sale in March 2024, a 1.2% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 4 | +300.0% |
2 Bedrooms | 54 | 46 | -14.8% |
3 Bedrooms | 117 | 131 | +12.0% |
4 Bedrooms | 148 | 133 | -10.1% |
5+ Bedrooms | 106 | 107 | +0.9% |
Summary: The Murrieta housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 300%, 2 bedroom homes decreased by 14.8%, 3 bedroom homes increased by 12%, 4 bedroom homes decreased by 10.1%, and 5+ bedroom homes increased by 0.9%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
116 | 116 | 0.0% |
Asking Price vs. Sold Price
39 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
51 Homes Were Sold
Over Asking
Summary: A total of 116 homes were sold or pending in Murrieta in March 2024, the same as the previous month. Of the 116 sold homes, 34% were sold under asking, 22% were sold at asking, and 44% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
42 Days | 31 Days | -27.5% |
Summary: Homes in Murrieta had an average of 31 days on market in Mar 2024, down by 27.5% compared to last year.
Breakdown of Home Sale Times
76 Homes Were Sold
Under 30 Days
29 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During March 2024, 116 homes were sold in Murrieta; 66% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.