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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Murrieta is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

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

+$27,756(+4.4%)

Key Takeaway

Homes in Murrieta have sold for 4.4% more than they did a year ago.

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

# BEDSMar 2023Mar 2024CHANGE
1 $335K$315K
-6.0%
2 $455K$480K
+5.5%
3 $570K$589.9K
+3.5%
4 $670K$695K
+3.7%
5+ $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
+4.7%
Murrieta
+4.4%
Wildomar
+3.2%
Perris Valley
+1.8%
Menifee
0.4%

Housing Supply in Murrieta, CA

How many homes are available in Murrieta, CA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
426421-1.2%

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

# BEDSFeb 2024Mar 2024CHANGE
1 14
+300.0%
2 5446
-14.8%
3 117131
+12.0%
4 148133
-10.1%
5+ 106107
+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 2024Mar 2024CHANGE
1161160.0%

Asking Price vs. Sold Price

39 Homes Were Sold
Under Asking

26 Homes Were Sold
At Asking

51 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Murrieta, you could pay more than the asking price. 44% of homes here sold above asking price last month.

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 2023Mar 2024CHANGE
42 Days31 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 11 Days Ago

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