Is Temecula, 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, Temecula has remained a Seller's Market.
Housing Prices in Temecula, CA
How much do homes in Temecula, CA cost?
Median Sold Price
$731,513
$349/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Temecula was $731,513 in May 2024, up 7.6% from last year, and the median price per square foot was $349.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $365K | $353.5K | -3.2% |
2 Bedrooms | $485K | $550K | +13.4% |
3 Bedrooms | $616.8K | $650K | +5.4% |
4 Bedrooms | $725K | $768.9K | +6.1% |
5+ Bedrooms | $876.5K | $920K | +5.0% |
Summary: Temecula housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 13.4%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 5%.
Median Sold Price Compared To Nearby Cities
Temecula | $679.9K | $731.5K | +7.6% |
Murrieta | $630.5K | $666.3K | +5.7% |
Housing Supply in Temecula, CA
How many homes are available in Temecula, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
440 | 447 | +1.6% |
Summary: The Temecula real estate market had 447 homes for sale in May 2024, a 1.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 21 | 21 | 0.0% |
3 Bedrooms | 151 | 145 | -4.0% |
4 Bedrooms | 161 | 158 | -1.9% |
5+ Bedrooms | 107 | 123 | +15.0% |
Summary: The Temecula housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes increased by 15%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
113 | 128 | +13.3% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
67 Homes Were Sold
Over Asking
Summary: A total of 128 homes were sold or pending in Temecula in May 2024, up by 13.3% month-over-month. Of the 128 sold homes, 27% were sold under asking, 20% were sold at asking, and 52% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
34 Days | 17 Days | -50.1% |
Summary: Homes in Temecula had an average of 17 days on market in May 2024, down by 50.1% compared to last year.
Breakdown of Home Sale Times
107 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 128 homes were sold in Temecula; 84% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.