Is Temecula, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Temecula has remained a Seller's Market.
Housing Prices in Temecula, CA
How much do homes in Temecula, CA cost?
Median Sold Price
$725,200
$345/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Temecula was $725,200 in March 2024, up 4.7% from last year, and the median price per square foot was $345.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $350K | $360K | +2.9% |
2 Bedrooms | $470K | $552.5K | +17.6% |
3 Bedrooms | $620K | $645K | +4.0% |
4 Bedrooms | $738.5K | $760K | +2.9% |
5+ Bedrooms | $853.5K | $907K | +6.3% |
Summary: Temecula housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.9%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 6.3%.
Median Sold Price Compared To Nearby Cities
Temecula | $692.8K | $725.2K | +4.7% |
Murrieta | $632.2K | $660K | +4.4% |
Housing Supply in Temecula, CA
How many homes are available in Temecula, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
352 | 380 | +8.0% |
Summary: The Temecula real estate market had 380 homes for sale in March 2024, a 8.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 21 | 23 | +9.5% |
3 Bedrooms | 129 | 120 | -7.0% |
4 Bedrooms | 127 | 143 | +12.6% |
5+ Bedrooms | 75 | 94 | +25.3% |
Summary: The Temecula housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.5%, 3 bedroom homes decreased by 7%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes increased by 25.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
96 | 114 | +18.8% |
Asking Price vs. Sold Price
39 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
51 Homes Were Sold
Over Asking
Summary: A total of 114 homes were sold or pending in Temecula in March 2024, up by 18.8% month-over-month. Of the 114 sold homes, 34% were sold under asking, 21% were sold at asking, and 45% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
49 Days | 26 Days | -46.2% |
Summary: Homes in Temecula had an average of 26 days on market in Mar 2024, down by 46.2% compared to last year.
Breakdown of Home Sale Times
86 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 114 homes were sold in Temecula; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.