Temecula, California real estate market conditions: January 2011

By
Real Estate Appraiser with BAYER APPRAISALS

Appraiser Adjustment Matrix

Area  Temecula                                        Date 1/5/2011

Square Footage

0-3 Months

4-6 Months

Difference

2800-3000

$322,500

$325,000

$-2500

2600-2800

$308,000

$315,000

$-7000

difference

$14,500

$10,000

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2400-2600

$295,000

$297,250

$-2250

difference

$13,000

$17,750

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2200-2400

$280,000

$276,000

$4000

difference

$15,000

$21,250

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2000-2200

$255,500

$269,500

$-14,000

Difference

$24,500

$6500

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1800-2000

$242,000

$245,000

$-3000

Difference

$13,500

$24,500

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1600-1800

$237,000

$231,500

$5500

Difference

$5000

$13,500

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1400-1600

$215,000

$215,000

$0

difference

$22,000

$16,500

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1200-1400

$200,000

$195,000

$5000

difference

$15,000

$20,000

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Difference TOTAL

$122,500

$130,000

$-14,250

Divide by 8

$15,312

$16,250

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Divide by 9

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$-1583

Divide by 200 sq'

= $ per Sq' $77

= $ per Sq'  $81

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Divide by 90 days

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= $ per day $-17.50

Data used is median sales prices in the area - for either current to 3-months or 4-6 months; by house square footage ranges.  In the gray boxes in the difference between the 2 median prices per the adjacent ranges.  Data indicates the difference in prices per square foot on average in the most recent 3-month period was $77 ($81 per square foot in the prior 3-month period).  Prices have also declined at an average rate of $17.50 per day.    Data below finds about the same number of homes in Temecula sold in the most recent 30-day period vs. the same time frame from 1-year ago; but the largest percentage recently was standard sales, while most of the current listings are short sales - which take the longest to sell.

 

Total Number

% Standard

% REO

% Short Sales

Active Listings

521

34%

21%

42%

Pending Sales

89

26%

37%

37%

Closed Sales

141

41%

25%

31%

Sold 1-year ago

140

31%

30%

34%

Median sold prices

Standard Sq'

REO per Sq'

Short per Sq'

Standard DOM

REO DOM

Short sales

DOM

2009

$143

$135

$118

36 days

30 days

132 days

2010

$128

$121

$130

45 days

38 days

143 days

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