Is Murrieta, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Murrieta has remained a Seller's Market.
Housing Prices in Murrieta, CA
How much do homes in Murrieta, CA cost?
Median Sold Price
$666,357
$306/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Murrieta was $666,357 in May 2024, up 5.7% from last year, and the median price per square foot was $306.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $335K | $320K | -4.5% |
2 Bedrooms | $452.5K | $490K | +8.3% |
3 Bedrooms | $565.6K | $590.1K | +4.3% |
4 Bedrooms | $665K | $700K | +5.3% |
5+ Bedrooms | $760K | $770.1K | +1.3% |
Summary: Murrieta housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.5%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 1.3%.
Median Sold Price Compared To Nearby Cities
Temecula | $679.9K | $731.5K | +7.6% |
Wildomar | $603K | $639K | +6.0% |
Murrieta | $630.5K | $666.3K | +5.7% |
Perris Valley | $536.7K | $554.7K | +3.4% |
Menifee | $539.9K | $557.5K | +3.3% |
Housing Supply in Murrieta, CA
How many homes are available in Murrieta, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
492 | 503 | +2.2% |
Summary: The Murrieta real estate market had 503 homes for sale in May 2024, a 2.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 7 | +40.0% |
2 Bedrooms | 55 | 54 | -1.8% |
3 Bedrooms | 163 | 162 | -0.6% |
4 Bedrooms | 153 | 161 | +5.2% |
5+ Bedrooms | 116 | 119 | +2.6% |
Summary: The Murrieta housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 2.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
132 | 138 | +4.5% |
Asking Price vs. Sold Price
50 Homes Were Sold
Under Asking
36 Homes Were Sold
At Asking
52 Homes Were Sold
Over Asking
Summary: A total of 138 homes were sold or pending in Murrieta in May 2024, up by 4.5% month-over-month. Of the 138 sold homes, 36% were sold under asking, 26% were sold at asking, and 38% were sold over asking.
Days on Market for Murrieta, CA
How long does it take to sell a home in Murrieta, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
30 Days | 27 Days | -7.5% |
Summary: Homes in Murrieta had an average of 27 days on market in May 2024, down by 7.5% compared to last year.
Breakdown of Home Sale Times
103 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During May 2024, 138 homes were sold in Murrieta; 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.