Is Lake Elsinore, 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, Lake Elsinore has remained a Seller's Market.
Housing Prices in Lake Elsinore, CA
How much do homes in Lake Elsinore, CA cost?
Median Sold Price
$575,000
$290/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake Elsinore was $575,000 in April 2024, up 1.6% from last year, and the median price per square foot was $290.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $285K | $355K | +24.6% |
2 Bedrooms | $378.2K | $385K | +1.8% |
3 Bedrooms | $526K | $536.1K | +1.9% |
4 Bedrooms | $585K | $599.9K | +2.5% |
5+ Bedrooms | $640K | $671K | +4.8% |
Summary: Lake Elsinore housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 24.6%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 4.8%.
Median Sold Price Compared To Nearby Cities
Quail Valley | $619K | $657.5K | +6.2% |
Wildomar | $605K | $630K | +4.1% |
Elsinore Valley | $596.6K | $620K | +3.9% |
Lake Elsinore | $565.8K | $575K | +1.6% |
Canyon Lake | $659.9K | $668K | +1.2% |
Housing Supply in Lake Elsinore, CA
How many homes are available in Lake Elsinore, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
269 | 267 | -0.7% |
Summary: The Lake Elsinore real estate market had 267 homes for sale in April 2024, a 0.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 24 | 25 | +4.2% |
3 Bedrooms | 83 | 89 | +7.2% |
4 Bedrooms | 115 | 106 | -7.8% |
5+ Bedrooms | 44 | 43 | -2.3% |
Summary: The Lake Elsinore housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes decreased by 2.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
69 | 77 | +11.6% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
40 Homes Were Sold
Over Asking
Summary: A total of 77 homes were sold or pending in Lake Elsinore in April 2024, up by 11.6% month-over-month. Of the 77 sold homes, 21% were sold under asking, 27% were sold at asking, and 52% were sold over asking.
Days on Market for Lake Elsinore, CA
How long does it take to sell a home in Lake Elsinore, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
51 Days | 25 Days | -49.9% |
Summary: Homes in Lake Elsinore had an average of 25 days on market in Apr 2024, down by 49.9% compared to last year.
Breakdown of Home Sale Times
59 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 77 homes were sold in Lake Elsinore; 77% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.