Is Perris, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Perris is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Perris has remained a Seller's Market.

Key Takeaway

Perris is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Perris, CA

How much do homes in Perris, CA cost?

Median Sold Price

$547,200

$291/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$37,200(+7.3%)

Key Takeaway

Homes in Perris have sold for 7.3% more than they did a year ago.

Summary: The median home sold price in Perris was $547,200 in November 2024, up 7.3% from last year, and the median price per square foot was $291.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$275K
N/A
2 $404K$425.7K
+5.4%
3 $475K$503K
+5.9%
4 $550K$580K
+5.5%
5+ $610K$621.5K
+1.9%

Summary: Perris 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 5.4%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 1.9%.

Median Sold Price Compared To Nearby Cities

Menifee
+8.1%
Perris
+7.3%
Perris Valley
+5.6%
Moreno Valley
+4.9%
Quail Valley
+1.5%

Housing Supply in Perris, CA

How many homes are available in Perris, CA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
249213-14.5%

Summary: The Perris real estate market had 213 homes for sale in November 2024, a 14.5% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 2518
-28.0%
3 9187
-4.4%
4 9475
-20.2%
5+ 3832
-15.8%

Summary: The Perris 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 28%, 3 bedroom homes decreased by 4.4%, 4 bedroom homes decreased by 20.2%, and 5+ bedroom homes decreased by 15.8%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
5847-19.0%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Perris, you could pay more than the asking price. 38.3% of homes here sold above asking price last month.

Summary: A total of 47 homes were sold or pending in Perris in November 2024, down by 19.0% month-over-month. Of the 47 sold homes, 28% were sold under asking, 34% were sold at asking, and 38% were sold over asking.

Days on Market for Perris, CA

How long does it take to sell a home in Perris, CA?

Average Sale Time

Nov 2023Nov 2024CHANGE
34 Days37 Days+7.9%

Summary: Homes in Perris had an average of 37 days on market in Nov 2024, up by 7.9% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Perris are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 47 homes were sold in Perris; 60% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

Newest Listings in Perris, CA

Nearby Markets to Perris, CA

What housing markets are near Perris, CA?