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 February 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

$515,000

$278/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$5,500(+1.1%)

Key Takeaway

Homes in Perris have sold for 1.1% more than they did a year ago.

Summary: The median home sold price in Perris was $515,000 in February 2024, up 1.1% from last year, and the median price per square foot was $278.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $400K$405K
+1.3%
3 $480K$479K
-0.2%
4 $535.2K$555K
+3.7%
5+ $590K$611K
+3.6%

Summary: Perris housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.3%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 3.6%.

Median Sold Price Compared To Nearby Cities

Quail Valley
+4.0%
Moreno Valley
+1.9%
Perris
+1.1%
Perris Valley
0.5%
Menifee
-0.4%

Housing Supply in Perris, CA

How many homes are available in Perris, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
166170+2.4%

Summary: The Perris real estate market had 170 homes for sale in February 2024, a 2.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 1614
-12.5%
3 6366
+4.8%
4 5252
0.0%
5+ 3437
+8.8%

Summary: The Perris 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 decreased by 12.5%, 3 bedroom homes increased by 4.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 8.8%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2537+48.0%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Perris, you may be able to get a good deal. 43.2% of homes here sold below asking price last month.

Summary: A total of 37 homes were sold or pending in Perris in February 2024, up by 48.0% month-over-month. Of the 37 sold homes, 43% were sold under asking, 22% were sold at asking, and 35% 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

Feb 2023Feb 2024CHANGE
52 Days44 Days-16.0%

Summary: Homes in Perris had an average of 44 days on market in Feb 2024, down by 16% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

7 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 February 2024, 37 homes were sold in Perris; 49% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 19% 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 28 Days Ago

Newest Listings in Perris, CA

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