$6,293 Closing Credit*
$529,900
2,021 SqFt
3 Beds
•2 Full Baths, 1 Partial
Mike Horan, Listing Office: Move Home Realty
Is Lake Elsinore, 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, Lake Elsinore has remained a Seller's Market.
Key Takeaway
Lake Elsinore is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Elsinore, CA
How much do homes in Lake Elsinore, CA cost?
Median Sold Price
$594,542
$295/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$32,708(+5.8%)
Key Takeaway
Homes in Lake Elsinore have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in Lake Elsinore was $594,542 in November 2024, up 5.8% from last year, and the median price per square foot was $295.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $355K | $312.5K | -12.0% |
| 2 Bedrooms | $375K | $414.4K | +10.5% |
| 3 Bedrooms | $525K | $551K | +5.0% |
| 4 Bedrooms | $585K | $615K | +5.1% |
| 5+ Bedrooms | $640.1K | $687K | +7.3% |
Summary: Lake Elsinore housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes increased by 7.3%.
Median Sold Price Compared To Nearby Cities
| Elsinore Valley | $591K | $639.2K | +8.2% |
| Lake Elsinore | $561.8K | $594.5K | +5.8% |
| Wildomar | $610K | $645K | +5.7% |
| Quail Valley | $650K | $659.5K | +1.5% |
| Canyon Lake | $661.7K | $665K | 0.5% |
Housing Supply in Lake Elsinore, CA
How many homes are available in Lake Elsinore, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 313 | 307 | -1.9% |
Summary: The Lake Elsinore real estate market had 307 homes for sale in November 2024, a 1.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 30 | 28 | -6.7% |
| 3 Bedrooms | 110 | 113 | +2.7% |
| 4 Bedrooms | 122 | 119 | -2.5% |
| 5+ Bedrooms | 48 | 46 | -4.2% |
Summary: The Lake Elsinore housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes decreased by 4.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 61 | 65 | +6.6% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Elsinore, you could pay more than the asking price. 47.7% of homes here sold above asking price last month.
Summary: A total of 65 homes were sold or pending in Lake Elsinore in November 2024, up by 6.6% month-over-month. Of the 65 sold homes, 25% were sold under asking, 28% were sold at asking, and 48% were sold over asking.
Days on Market for Lake Elsinore, CA
How long does it take to sell a home in Lake Elsinore, CA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 25 Days | 41 Days | +62.9% |
Summary: Homes in Lake Elsinore had an average of 41 days on market in Nov 2024, up by 62.9% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
27 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Elsinore are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 65 homes were sold in Lake Elsinore; 51% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 8% 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. 
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