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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Perris is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Perris, CA

How much do homes in Perris, CA cost?

Median Sold Price

$530,218

$287/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$27,968(+5.6%)

Key Takeaway

Homes in Perris have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in Perris was $530,218 in May 2024, up 5.6% from last year, and the median price per square foot was $287.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $407.5K$399.5K
-2.0%
3 $470.5K$490K
+4.1%
4 $535K$560K
+4.7%
5+ $587.4K$615.1K
+4.7%

Summary: Perris housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 4.7%.

Median Sold Price Compared To Nearby Cities

Perris
+5.6%
Quail Valley
+4.9%
Moreno Valley
+4.0%
Perris Valley
+3.4%
Menifee
+3.3%

Housing Supply in Perris, CA

How many homes are available in Perris, CA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
180184+2.2%

Summary: The Perris real estate market had 184 homes for sale in May 2024, a 2.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 1115
+36.4%
3 7272
0.0%
4 6871
+4.4%
5+ 2825
-10.7%

Summary: The Perris housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 36.4%, 3 bedroom homes remained the same, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes decreased by 10.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4643-6.5%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

24 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Perris, you could pay more than the asking price. 55.8% of homes here sold above asking price last month.

Summary: A total of 43 homes were sold or pending in Perris in May 2024, down by 6.5% month-over-month. Of the 43 sold homes, 26% were sold under asking, 19% were sold at asking, and 56% were sold over asking.

Days on Market for Perris, CA

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

Average Sale Time

May 2023May 2024CHANGE
34 Days27 Days-20.4%

Summary: Homes in Perris had an average of 27 days on market in May 2024, down by 20.4% compared to last year.

Breakdown of Home Sale Times

30 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 43 homes were sold in Perris; 70% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 5% 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 12 Days Ago

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