Murrieta CA Condo Prices - Median: $125,000; Median SqFt: $99.22, July 10, 2012.
There were 67 condos and townhomes for sale in Murrieta CA that closed (sold) during the past 90 days with a median home price of $125,000 and a median price-per-square-foot of $99.22, according to the California Regional MLS (Multiple Listing Service).
Last month, 68 townhomes and condos for sale closed with a median sales price of $124,500 and a median price-per-square-foot of $98.72. One year ago, 82 townhomes and condos for sale closed with a median sales price of $120,000 and a median price-per-square-foot of $92.40.*
The charts on the right show the median sold price trends for condominiums and townhomes in the City of Murrieta. (Sold prices are the actual amount that buyers paid for the home.) The first chart shows sold prices over the past 24 months. The second chart shows sold prices since 2002. The blue SOLD line in each chart shows the month-to-month fluctuations in sold prices. The red TREND line smoothes the month-to-month fluctuations using a 12-month moving average. The TREND line makes it easier to determine the overall housing market’s price trend.
Follow the link to view my list of Murrieta Condos and Townhomes for Sale.
CONDO & TOWNHOME INVENTORY
The last chart shows the trend of Murrieta condo and townhome inventory. Inventory is the number of homes currently listed for sale. When the number of homes listed for sale rises, it puts downward pressure on home prices because of increased supply. In contrast, when the number of homes listed for sale falls, it puts upward pressure on prices due to a smaller supply. The blue ACTIVE line shows the week-to-week fluctuations in home inventory. The red TREND line smoothes the week-to-week fluctuations using a six-week moving average. The TREND line makes it easier to determine the overall inventory trend.
Buying a house? Selling a house? Whether you’re a home buyer or a home seller, you need to know about absorption rates. Why? Because knowing neighborhood absorption rates can help you better determine whether it’s a buyer’s market or a seller’s market, and what the home’s fair market value is.
Follow the link to check out Murrieta Condo and Townhome Absorption Rates!
*The values shown for each month are based on data measured during the prior 90 days of activity. For example, values shown for December 2011 are based on data measured from the beginning of October 2011 through the end of December 2011. The information provided is deemed reliable, but is not guaranteed.