This is a Temecula Real Estate Market Report for APRIL 2010 with information about SHORT SALES in Temecula, California 92591-92592. This report does not include luxury properties priced over $500,000. For other Temecula Valley market reports go to http://aimreg.com/blog and use the Categories drop down menu to select the desired market reports.
The volume of activity for Single Family Residences includes 332 Active listings, 176 properties in escrow and 49 homes that have closed in the last 30 days. Recent activity for Condos includes 35 Active listings, 18 homes in escrow and 8 homes that closed in the last 30 days.
Pricing activity for Single Family Residences in Temecula shows an average list price of $269,829 for Active listings and an average list price of $266,078 for properties in escrow. For SFRs that closed in the last 30 days the average LIST price was $270,851 , the average SALE price was $267,531 and the MEDIAN selling price was $259,000 . Pricing activity for Condos shows an average list price of $148,323 for Active listings and an average list price of $126,665 for those properties in escrow now. For Condos that closed in the last 30 days the average LIST price was $139,800 , while the average SALE price was $131,409 and the MEDIAN selling price was $138,138 .
Price per square foot calculations show that for SFRs the average $/SF of Active listings is $116.94 /SF, for properties in escrow the average is $115.57 /SF and for properties that closed in the last 30 days the average was $118.98 /SF. For Condos the average $/SF of Active listings is $102.76 /SF, for Condos in escrow the average is $99.56 /SF and for condos that closed in the last 30 days the average was $102.48 /SF.
Sellers and buyers are both interested in how long it takes to close a Short Sale transaction in Temecula, CA these days. Most market reports will evaluate the Days On Market (DOM) figure but this number doesn't give a full picture of how long it's really taking to get an escrow closed. The DOM number counts the number of days the property is marketed but ignores how long everyone waited for bank approvals while it's in escrow. The wait has been increasing for both buyers (for approval on new financing) and sellers (for approval on a short sale). The following statistics include the usual DOM figure as well as a "Total Days" value which represents the total number of days since the property was listed.
For SFRs that have closed in the last 30 days, the average number of days the property was marketed was 123 while the average number of days from listing to closing was 218. For Condos that have closed in the last 30 days, the average DOM was 120 while the Total Days average was 169.
This information is provided by Aim Real Estate Group Inc. and is intended for use by those who may want to buy or sell property in Temecula, California 92591/92592. Statistics presented here do not include manufactured homes, For Sale By Owner or New Construction. All information deemed reliable but is not guaranteed.
Contact Temecula Realtors (covering the entire Temecula Valley) for more information. Please call David Northup at (951) 326-0196 to speak with a listing agent, for a list of available properties or to schedule a tour of Temecula homes for sale that interest you!