Is Temecula, 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, Temecula has remained a Seller's Market.
Key Takeaway
Temecula is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Temecula, CA
How much do homes in Temecula, CA cost?
Median Sold Price
$704,816
$337/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Temecula have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in Temecula was $704,816 in November 2023, up 1.2% from last year, and the median price per square foot was $337.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $343K | $372.5K | +8.6% |
| 2 Bedrooms | $485K | $542K | +11.8% |
| 3 Bedrooms | $623.6K | $631K | +1.2% |
| 4 Bedrooms | $735K | $741.8K | +0.9% |
| 5+ Bedrooms | $842.5K | $889.6K | +5.6% |
Summary: Temecula housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 8.6%, 2 bedroom homes increased by 11.8%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes increased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Temecula | $696.2K | $704.8K | +1.2% |
| Murrieta | $637.7K | $644.9K | +1.1% |
Housing Supply in Temecula, CA
How many homes are available in Temecula, CA?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 373 | 342 | -8.3% |
Summary: The Temecula real estate market had 342 homes for sale in November 2023, a 8.3% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 25 | 16 | -36.0% |
| 3 Bedrooms | 120 | 111 | -7.5% |
| 4 Bedrooms | 141 | 133 | -5.7% |
| 5+ Bedrooms | 84 | 79 | -6.0% |
Summary: The Temecula housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 36%, 3 bedroom homes decreased by 7.5%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes decreased by 6%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 103 | 86 | -16.5% |
Asking Price vs. Sold Price
39 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
27 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Temecula, you may be able to get a good deal. 45.3% of homes here sold below asking price last month.
Summary: A total of 86 homes were sold or pending in Temecula in November 2023, down by 16.5% month-over-month. Of the 86 sold homes, 45% were sold under asking, 23% were sold at asking, and 31% were sold over asking.
Days on Market for Temecula, CA
How long does it take to sell a home in Temecula, CA?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 39 Days | 32 Days | -17.4% |
Summary: Homes in Temecula had an average of 32 days on market in Nov 2023, down by 17.4% compared to last year.
Breakdown of Home Sale Times
54 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Temecula are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 86 homes were sold in Temecula; 63% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 8% 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.