$7,006 Closing Credit*
$590,000
1,723 SqFt
4 Beds
•2 Full Baths
Davey Ortiz, Listing Office: The Ortiz Group Realty
Is Banning, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Banning has remained a Seller's Market.
Key Takeaway
Banning is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Banning, CA
How much do homes in Banning, CA cost?
Median Sold Price
$390,000
$273/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,000(+4.0%)
Key Takeaway
Homes in Banning have sold for 4% more than they did a year ago.
Summary: The median home sold price in Banning was $390,000 in November 2024, up 4% from last year, and the median price per square foot was $273.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $201K | +21.8% |
| 2 Bedrooms | $355K | $365K | +2.8% |
| 3 Bedrooms | $390K | $402.5K | +3.2% |
| 4 Bedrooms | $513K | $497K | -3.1% |
| 5+ Bedrooms | $440K | $553.4K | +25.8% |
Summary: Banning housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.8%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 25.8%.
Median Sold Price Compared To Nearby Cities
| Forest Falls | $335K | $369K | +10.1% |
| San Gorgonio Pass | $460.3K | $505K | +9.7% |
| Cabazon | $306K | $325K | +6.2% |
| Banning | $375K | $390K | +4.0% |
| Big Bear | $454.8K | $440.1K | -3.2% |
Housing Supply in Banning, CA
How many homes are available in Banning, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 173 | 175 | +1.2% |
Summary: The Banning real estate market had 175 homes for sale in November 2024, a 1.2% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 82 | 82 | 0.0% |
| 3 Bedrooms | 66 | 68 | +3.0% |
| 4 Bedrooms | 19 | 19 | 0.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Banning housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 24 | 34 | +41.7% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Banning, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in Banning in November 2024, up by 41.7% month-over-month. Of the 34 sold homes, 50% were sold under asking, 9% were sold at asking, and 41% were sold over asking.
Days on Market for Banning, CA
How long does it take to sell a home in Banning, CA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 31 Days | 45 Days | +47.4% |
Summary: Homes in Banning had an average of 45 days on market in Nov 2024, up by 47.4% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Banning are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 34 homes were sold in Banning; 50% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.