Murrieta - Temecula, CA - Real Estate Market Conditions: February 2011

By
Real Estate Appraiser with BAYER APPRAISALS

Temecula - Murrieta, CA * Real Estate Market Conditions: February 2011

Sales for Temecula and Murrieta - between January 14 to February 14 for the years 2010 and 2011.  Except for the Standard Sales the median prices per square foot are up in both Cities.  Data shows homes in Temecula sell for more, Standard sales pull the highest prices. 

Temcula (standard sale prices per square foot)   2010 @ $163 vs.  2011@ $138

Temecula (REO)  2010 @ $113.50 vs. 2011 @ $115

Temecula (short sale) 2010 @ $123 vs. 2011 @ $124

Murrieta (standard sales)  2010 @ $111 vs. 2011 @ $112

Murrieta (REO)   2010 @ $104 vs. 2011 @ $106

Murrieta (short sale)  2010 @ $94 vs. 2011 @ $95

 Based on the same 1-month period (as above) for 2010 and 2011 - there was a decline in the number of homes sold:

Temecula        139 in 2010     119 in 2011

Murrieta         170 in 2010     141 in 2011

Year over year shows prices up, however comparing the most recent 3-month period vs. the prior 3-month period. 

Temecula saw home prices on average go down: $45 per day

Murrieta saw home prices on average go down: $87 per day

Average difference in prices for the difference in square footages

Temecula for the current 3-month time period  $70         per square foot

Temecula for the prior 3-month time period       $78         per square foot

Murrieta for the current 3-month time period    $59         per square foot

Murrieta for the prior 3-month time period         $72         per square foot

Based on pending sales in 1-month vs. the current number of homes listed for sale - the months of inventory is:

Temecula            3.7 months                         vs.          2 months on 2/25/2010

Murrieta              4.6 months                         vs.          2.3 months on 2/25/2010

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Location:
California Riverside County Temecula
Tags:
market conditions
real estate
temecula california
murrieta california
feb 2011

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Beverly Bayer

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