$6,530 Closing Credit*
$549,900
1,703 SqFt
3 Beds
•2 Full Baths, 1 Partial
Erenie Adams, Listing Office: Realty ONE Group West
Is Lake Elsinore Hills, 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 Hills has remained a Seller's Market.
Key Takeaway
Lake Elsinore Hills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Elsinore Hills, CA
How much do homes in Lake Elsinore Hills, CA cost?
Median Sold Price
$630,000
$260/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$42,500(+7.2%)
Key Takeaway
Homes in Lake Elsinore Hills have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Lake Elsinore Hills was $630,000 in November 2024, up 7.2% from last year, and the median price per square foot was $260.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $425.5K | $435K | +2.2% |
| 3 Bedrooms | $542.3K | $575K | +6.0% |
| 4 Bedrooms | $589K | $625K | +6.1% |
| 5+ Bedrooms | $650K | $699K | +7.5% |
Summary: Lake Elsinore Hills housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 7.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Lake Elsinore Hills | $587.5K | $630K | +7.2% |
| East Lake District | $570K | $582.5K | +2.2% |
Housing Supply in Lake Elsinore Hills, CA
How many homes are available in Lake Elsinore Hills, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 119 | 112 | -5.9% |
Summary: The Lake Elsinore Hills real estate market had 112 homes for sale in November 2024, a 5.9% decrease 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 24 | 24 | 0.0% |
| 4 Bedrooms | 58 | 56 | -3.4% |
| 5+ Bedrooms | 33 | 29 | -12.1% |
Summary: The Lake Elsinore Hills 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 decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes decreased by 12.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 | 28 | +27.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Elsinore Hills, you could pay more than the asking price. 53.6% of homes here sold above asking price last month.
Summary: A total of 28 homes were sold or pending in Lake Elsinore Hills in November 2024, up by 27.3% month-over-month. Of the 28 sold homes, 25% were sold under asking, 21% were sold at asking, and 54% were sold over asking.
Days on Market for Lake Elsinore Hills, CA
How long does it take to sell a home in Lake Elsinore Hills, CA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 32 Days | 62 Days | +89.7% |
Summary: Homes in Lake Elsinore Hills had an average of 62 days on market in Nov 2024, up by 89.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake Elsinore Hills has remained consistent over time.
Summary: During November 2024, 28 homes were sold in Lake Elsinore Hills; 25% of homes were sold within 30 days, 64% 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.