Home > Menifee Real Estate Market
National Market Conditions
2017 3rd Quarter Market Report: Home Sales and Prices Hit a Wall

The 3rd quarter of 2017 ended with not much of a change from the 2nd quarter. Home sales are down slightly and home prices continue to rise with median home prices up 4.2% year over year, but down from the second quarter's 6.2% increase. The primary reason for the slow-down in sales is the limited number of homes for sale, higher prices and less buyers being able to afford to buy a home.

The most notable change in the 2nd quarter was a shift in the amount of buyer activity declining 16% from last quarter. Additionally we found a significant change in the amount of price appreciation. Although 91% of the markets reported price appreciation there was an 11% shift from those markets reporting 5-10% appreciation and over 10% appreciation to those markets reporting under 5% appreciation.

According the National association of Realtors (NAR) existing home prices were up 4.2% over last year; the inventory of unsold homes is at a 4.2 month supply and 48% of all homes were sold in under one month. Still home sales dropped overall due to the low inventory of homes for sale.

The data in this report is generated primarily from our survey of HouseHunt.com and MoveUp.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in buyer activity is significantly higher than seller activity, however there was a definite downward trend in the number of markets continuing to show increasing buyer activity in the 3rd quarter. Our Realtors reported increasing buyer activity in 73% of the markets - down 16% from last quarter, but up 7% compared to last year. Seller activity was increasing in 49% of the markets in the 3rd quarter which was no change from the 2nd quarter, but up 9% over last year.

...Read Full Article
Spring 2018 Market Update
Menifee is dividing into two general sections - Family and Senior. The senior community tends to be lower priced making it a great value for seniors. The Family section of Menifee is a wonderful community with so much commercial growth. Families can still get a wonderful home at a great value.
Average Sold Home Price: $325,000

Average Time on Market: 30-60 days

Best Selling Price Range: $300,000 - $349,000

Existing Home Prices for the past 90 days: Increasing

Market Trend: No Change

Buyer's or Seller's Market: Equal buyers and sellers

Buyer Activity for the past 90 days: Increasing

Seller Activity for the past 90 days: No Change

Multiple Offers? Yes

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 10-15%

Is Financing Available For Qualified Buyers? Yes

Housing Inventory: Good Supply

Greatest Activity: First Time Buyers

Best reason to buy or sell: Good economic news

Nearest Metro Area: Inland Empire - Located in the inland empire between Los Angels and San Diego

Contact Information
Courtney Rowen
951-218-4344
Email Me
Receive New Listings by Email
Search for Homes
Property Type
Minimum Price
Maximum Price
Bedrooms
Bathrooms
Mortgage Rates for Apr 23rd, 2018
30 year fixed rate: 4.25%
15 year fixed rate: 3.66%
30 year jumbo rate: 4.40%
15 year jumbo rate: 4.12%
Check your Home's Value
Your Street Address
Your Zip Code
Real Estate Professional, Courtney Rowen Courtney Rowen
Coldwell Banker Associated Brokers Realty
Specializing in Menifee Real Estate
31620 Railroad Canyon Road
Canyon Lake, California 92587
951-218-4344
Email Me | Receive New Listings by Email
Brokerage Logo of Coldwell Banker Associated Brokers Realty
(Because current market conditions can change rapidly in any given marketplace,
please check with Courtney Rowen for current Menifee, CA market conditions before acting on this information.)
Homes for Sale by HouseHunt.com  Your #1 resource for finding Homes for Sale, How Much My Home is Worth, Community Information and Real Estate Agents!
© Copyright 1995-2018 HouseHunt Inc - All Rights Reserved