$4,274 Closing Credit*
$359,900
759 SqFt
3 Beds
•1 Full Bath
Daniel Escutia, Listing Office: Esen Real Estate Services
Is Hemet, 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, Hemet has remained a Seller's Market.
Key Takeaway
Hemet is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hemet, CA
How much do homes in Hemet, CA cost?
Median Sold Price
$449,770
$263/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$29,535(+7.0%)
Key Takeaway
Homes in Hemet have sold for 7% more than they did a year ago.
Summary: The median home sold price in Hemet was $449,770 in October 2024, up 7% from last year, and the median price per square foot was $263.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $196.5K | +9.2% |
| 2 Bedrooms | $310K | $342.9K | +10.6% |
| 3 Bedrooms | $425K | $450K | +5.9% |
| 4 Bedrooms | $480K | $505.1K | +5.2% |
| 5+ Bedrooms | $525K | $550K | +4.8% |
Summary: Hemet housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.2%, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 4.8%.
Median Sold Price Compared To Nearby Cities
| Hemet | $420.2K | $449.7K | +7.0% |
| Hemet-San Jacinto | $425K | $454.9K | +7.0% |
| Perris Valley | $536.9K | $570K | +6.2% |
| San Jacinto | $450K | $476K | +5.8% |
Housing Supply in Hemet, CA
How many homes are available in Hemet, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 569 | 575 | +1.1% |
Summary: The Hemet real estate market had 575 homes for sale in October 2024, a 1.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 165 | 178 | +7.9% |
| 3 Bedrooms | 230 | 221 | -3.9% |
| 4 Bedrooms | 122 | 127 | +4.1% |
| 5+ Bedrooms | 50 | 46 | -8.0% |
Summary: The Hemet housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 7.9%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 117 | 108 | -7.7% |
Asking Price vs. Sold Price
36 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
44 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hemet, you could pay more than the asking price. 40.7% of homes here sold above asking price last month.
Summary: A total of 108 homes were sold or pending in Hemet in October 2024, down by 7.7% month-over-month. Of the 108 sold homes, 33% were sold under asking, 26% were sold at asking, and 41% were sold over asking.
Days on Market for Hemet, CA
How long does it take to sell a home in Hemet, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 36 Days | +29.9% |
Summary: Homes in Hemet had an average of 36 days on market in Oct 2024, up by 29.9% compared to last year.
Breakdown of Home Sale Times
69 Homes Were Sold
Under 30 Days
27 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hemet are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 108 homes were sold in Hemet; 64% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 11% 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.