Is Hemet, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Hemet has remained a Seller's Market.
Housing Prices in Hemet, CA
How much do homes in Hemet, CA cost?
Median Sold Price
$425,700
$256/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Hemet was $425,700 in April 2024, up 1.6% from last year, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | $170.5K | 0.3% |
2 Bedrooms | $320K | $330K | +3.1% |
3 Bedrooms | $425K | $435K | +2.4% |
4 Bedrooms | $480K | $499.4K | +4.0% |
5+ Bedrooms | $532.5K | $535K | 0.5% |
Summary: Hemet housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.3%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 0.5%.
Median Sold Price Compared To Nearby Cities
Perris Valley | $539.9K | $550K | +1.9% |
Hemet | $419.1K | $425.7K | +1.6% |
Hemet-San Jacinto | $430.7K | $434.5K | +0.9% |
San Jacinto | $459.6K | $458.8K | -0.2% |
Housing Supply in Hemet, CA
How many homes are available in Hemet, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
429 | 428 | -0.2% |
Summary: The Hemet real estate market had 428 homes for sale in April 2024, a 0.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 153 | 144 | -5.9% |
3 Bedrooms | 157 | 166 | +5.7% |
4 Bedrooms | 90 | 79 | -12.2% |
5+ Bedrooms | 25 | 34 | +36.0% |
Summary: The Hemet housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 12.2%, and 5+ bedroom homes increased by 36%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
112 | 99 | -11.6% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Summary: A total of 99 homes were sold or pending in Hemet in April 2024, down by 11.6% month-over-month. Of the 99 sold homes, 22% were sold under asking, 27% were sold at asking, and 51% were sold over asking.
Days on Market for Hemet, CA
How long does it take to sell a home in Hemet, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
56 Days | 35 Days | -37.3% |
Summary: Homes in Hemet had an average of 35 days on market in Apr 2024, down by 37.3% compared to last year.
Breakdown of Home Sale Times
66 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Summary: During April 2024, 99 homes were sold in Hemet; 67% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.