$8,894 Closing Credit*
$749,000
2,694 SqFt
5 Beds
•3 Full Baths, 1 Partial
Jon Wade, Listing Office: Link Brokerages
Is Canyon Lake, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Canyon Lake has remained a Seller's Market.
Key Takeaway
Canyon Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Canyon Lake, CA
How much do homes in Canyon Lake, CA cost?
Median Sold Price
$665,000
$360/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,000(+0.8%)
Key Takeaway
Homes in Canyon Lake have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in Canyon Lake was $665,000 in October 2024, up 0.8% from last year, and the median price per square foot was $360.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $380K | N/A |
| 2 Bedrooms | $462.5K | $572.5K | +23.8% |
| 3 Bedrooms | $640K | $645K | +0.8% |
| 4 Bedrooms | $722.5K | $790K | +9.3% |
| 5+ Bedrooms | $877.5K | $1.0M | +20.2% |
Summary: Canyon Lake housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.8%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 20.2%.
Median Sold Price Compared To Nearby Cities
| Menifee | $535.1K | $580K | +8.4% |
| Perris Valley | $536.9K | $570K | +6.2% |
| Lake Elsinore | $562.5K | $589.4K | +4.8% |
| Canyon Lake | $660K | $665K | +0.8% |
| Quail Valley | $650K | $655K | +0.8% |
Housing Supply in Canyon Lake, CA
How many homes are available in Canyon Lake, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 82 | 84 | +2.4% |
Summary: The Canyon Lake real estate market had 84 homes for sale in October 2024, a 2.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 7 | 4 | -42.9% |
| 3 Bedrooms | 39 | 38 | -2.6% |
| 4 Bedrooms | 22 | 26 | +18.2% |
| 5+ Bedrooms | 12 | 14 | +16.7% |
Summary: The Canyon Lake housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 42.9%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 19 | +58.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Canyon Lake, you may be able to get a good deal. 47.4% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Canyon Lake in October 2024, up by 58.3% month-over-month. Of the 19 sold homes, 47% were sold under asking, 37% were sold at asking, and 16% were sold over asking.
Days on Market for Canyon Lake, CA
How long does it take to sell a home in Canyon Lake, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 38 Days | +29.5% |
Summary: Homes in Canyon Lake had an average of 38 days on market in Oct 2024, up by 29.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Canyon Lake has remained consistent over time.
Summary: During October 2024, 19 homes were sold in Canyon Lake; 42% of homes were sold within 30 days, 53% of homes were sold within 30 to 90 days, and 5% 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.