Is Perris Valley, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Perris Valley has remained a Seller's Market.
Key Takeaway
Perris Valley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Perris Valley, CA
How much do homes in Perris Valley, CA cost?
Median Sold Price
$539,849
$270/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Perris Valley have sold for 1.3% less than they did a year ago.
Summary: The median home sold price in Perris Valley was $539,849 in November 2023, down 1.3% from last year, and the median price per square foot was $270.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | $172.4K | -28.1% |
| 2 Bedrooms | $385K | $370K | -3.9% |
| 3 Bedrooms | $515.7K | $510K | -1.1% |
| 4 Bedrooms | $585K | $585K | 0.0% |
| 5+ Bedrooms | $630K | $635.7K | +0.9% |
Summary: Perris Valley housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 28.1%, 2 bedroom homes decreased by 3.9%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 0.9%.
Median Sold Price Compared To Nearby Cities
| Quail Valley | $616.5K | $650K | +5.4% |
| Perris | $505.1K | $510K | +1.0% |
| Canyon Lake | $660.6K | $661.7K | 0.2% |
| Perris Valley | $547.1K | $539.8K | -1.3% |
| Menifee | $554.9K | $536.4K | -3.3% |
Housing Supply in Perris Valley, CA
How many homes are available in Perris Valley, CA?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 848 | 786 | -7.3% |
Summary: The Perris Valley real estate market had 786 homes for sale in November 2023, a 7.3% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 2 | -71.4% |
| 2 Bedrooms | 138 | 135 | -2.2% |
| 3 Bedrooms | 292 | 260 | -11.0% |
| 4 Bedrooms | 281 | 263 | -6.4% |
| 5+ Bedrooms | 130 | 126 | -3.1% |
Summary: The Perris Valley housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 71.4%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes decreased by 11%, 4 bedroom homes decreased by 6.4%, and 5+ bedroom homes decreased by 3.1%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 232 | 162 | -30.2% |
Asking Price vs. Sold Price
62 Homes Were Sold
Under Asking
38 Homes Were Sold
At Asking
62 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Perris Valley, you may be able to get a good deal. 38.3% of homes here sold below asking price last month.
Summary: A total of 162 homes were sold or pending in Perris Valley in November 2023, down by 30.2% month-over-month. Of the 162 sold homes, 38% were sold under asking, 23% were sold at asking, and 38% were sold over asking.
Days on Market for Perris Valley, CA
How long does it take to sell a home in Perris Valley, CA?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 36 Days | 31 Days | -11.8% |
Summary: Homes in Perris Valley had an average of 31 days on market in Nov 2023, down by 11.8% compared to last year.
Breakdown of Home Sale Times
101 Homes Were Sold
Under 30 Days
51 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Perris Valley are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 162 homes were sold in Perris Valley; 62% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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