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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Perris Valley is a seller's market

Buyer's
Market

Difference Since September 2023

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

$569,933

$282/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$34,702(+6.5%)

Key Takeaway

Homes in Perris Valley have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in Perris Valley was $569,933 in September 2024, up 6.5% from last year, and the median price per square foot was $282.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $170K$239K
+40.6%
2 $373.5K$390K
+4.4%
3 $510K$530.4K
+4.0%
4 $579K$614.9K
+6.2%
5+ $630K$670.2K
+6.4%

Summary: Perris Valley housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40.6%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 6.4%.

Median Sold Price Compared To Nearby Cities

Menifee
+8.3%
Perris
+6.8%
Perris Valley
+6.5%
Quail Valley
+1.3%
Canyon Lake
-0.3%

Housing Supply in Perris Valley, CA

How many homes are available in Perris Valley, CA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
1,1911,132-5.0%

Summary: The Perris Valley real estate market had 1,132 homes for sale in September 2024, a 5.0% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 44
0.0%
2 215200
-7.0%
3 431395
-8.4%
4 365375
+2.7%
5+ 176158
-10.2%

Summary: The Perris Valley housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 7%, 3 bedroom homes decreased by 8.4%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 10.2%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
303224-26.1%

Asking Price vs. Sold Price

61 Homes Were Sold
Under Asking

53 Homes Were Sold
At Asking

110 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Perris Valley, you could pay more than the asking price. 49.1% of homes here sold above asking price last month.

Summary: A total of 224 homes were sold or pending in Perris Valley in September 2024, down by 26.1% month-over-month. Of the 224 sold homes, 27% were sold under asking, 24% were sold at asking, and 49% 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

Sep 2023Sep 2024CHANGE
25 Days35 Days+36.1%

Summary: Homes in Perris Valley had an average of 35 days on market in Sep 2024, up by 36.1% compared to last year.

Breakdown of Home Sale Times

128 Homes Were Sold
Under 30 Days

79 Homes Were Sold
In 30 - 90 Days

17 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 224 homes were sold in Perris Valley; 57% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 8% 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 30 Days Ago

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