Temecula Home Prices
Temecula home prices have increased over 20% in the last year. Looking at the chart below it shows that the number of homes sold has only increased slightly but the average price of a Temecula home has gone up almost $100,000 from the year before.
Temecula Home Inventory is beginning to increase slightly as the school year begins and the normal trend for Temecula home buying to slow down. Real estate trends are cyclical and the beginning of the school year usually shows signs of slowing.
Temecula home Builders and home builder in the surrounding areas of Murrieta, Winchester, also tell me that they are seeing a lot less potential home buyers come through their models.
Chart below, showing Temecula home sale prices and number of homes sold in Temecula during 2013.
Actual statistics of homes sold in Temecula collected from the Multiple Listing Service, excluding manufactured homes, townhomes, condominiums and vacant land.
|
Temecula Home Sales beginning July 2012 |
Temecula Home Prices, Average Sale Price of a Temecula home |
Temecula Home Sales, Number of Temecula homes sold each month for the past 12 months |
|
Jul-12 |
$313,234 |
181 |
|
Aug-12 |
$347,596 |
199 |
|
Sep-12 |
$324,805 |
174 |
|
Oct-12 |
$344,751 |
154 |
|
Nov-12 |
$357,010 |
169 |
|
Dec-12 |
$358,071 |
175 |
|
Jan-13 |
$342,573 |
113 |
|
Feb-13 |
$357,722 |
119 |
|
Mar-13 |
$375,674 |
153 |
|
Apr-13 |
$389,639 |
173 |
|
May-13 |
$413,162 |
215 |
|
Jun-13 |
$415,517 |
191 |
|
Jul-13 |
$403,578 |
196 |
Interest rates have jumped one percent from just under 4% to just under 5%. Experts say that an interest rate of 5% is still historically low but if rates continue to rise then prices will come down to meet the demand of qualified buyers who need the lower rate to qualify for a Temecula home.
If you are looking to buy or sell a home in the Temecula area, please call me to set up a meeting to discuss your home purchase or sale. I may have a buyer looking to purchase your home due to the fact I have a data base of over 700 potential home buyers just waiting to find the perfect home in the Temecula area.
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