Custom Tenaja Estate Homes at "Executive Home" Prices in Murrieta CA - Murrieta West Side
In the 2004 - 2006 time frame, executive home buyers looking to keep their purchase price under $700,000 were priced out of homes on the west side of Murrieta in the coveted Tenaja and La Cresta estate, ranch and horse property areas. Back then, prices were well above $1 million, and "executive" homes were considered homes above 3500 sq ft, on a large enough lot for a pool and some lawn area; perhaps 8,000 to 10,000 sq ft lots. And these were in tracts in Murrieta well down the hill from the La Cresta and Tenaja homes.
Fast forward to the year 2010, and pricing on the La Cresta and Tenaja homes still includes many above $1million, and yet with the recession and real estate price cuts in the area on the order of 50+ percent in all parts of Murrieta, executives who want to keep their home price below $700,000 can suddenly pick up a deal on an estate home, or a horse property, in the upper echelon areas of La Cresta and Tenaja.
Here is a sample of active listings right now in the Murrieta Hills (area 204 of the CRMLS), including Tenaja and La Cresta homes:
Here is a market snapshot of active, pending and sold homes in the Murrieta West Hills section, including Tenaja and La Cresta (Murrieta portion).
And, a chart of active listings at respective price points:
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