Murrieta, CA Residential Market Dynamics | April 2010 - April 2011
MARKET DYNAMICS - SUPPLY & DEMAND
In April, 2011 there were 1,017 homes on the market for sale in Murrieta. That is 264 fewer homes than at the same time last year. There was a -20.6% drop in the number of homes for sale in Murrieta over the past year.
The number of Murrieta homes under contract in April 2011 was 298. That is 67 more homes than and a 29% increase from April 2010's 231.
175 properties that sold last month in Murrieta, compared to 199 a year ago, for a 12.1% decrease. But as you can see from the chart below, the gap seems to be gradually converging.
MARKET DYNAMICS - MEDIAN PRICE
The median list price in Murrieta dropped by only $100 from 250,000 in April 2010 to 249,000 in April 2011, signaling no change. There was a -3.2% change in the average price of properties under contract during this time frame. There was also a -4.1% drop in sales price in Murrieta during April 2011 vs April 2010.
MARKET DYNAMICS - MONTHS SUPPLY OF INVENTORY
Murrieta's Supply of Inventory dropped 51.2% since April 2010. It is currently at 2.0, the lowest it has been in the past year. That is a hopeful sign of a stabilization in Murrieta's housing market, something we are all looking forward to.
To view the many affordable homes for sale in the Temecula Valley, visit See Temecula CA Homes, email me, or call me at (951)294-7917.
Penny Sargent provides an exceptional level of real estate services to home buyers and sellers in the Temecula Valley. Visit www.SeeTemeculaCAHomes.com to search for homes in Murrieta, Menifee, Sun City, Temecula, Wildomar, Winchester and surrounding communities. If you or anyone you know is looking to buy or sell real estate in our area, contact Penny Sargent, (951) 294-7917 DRE#01180805 Keller Williams Realty.
*Information deemed reliable but not guaranteed.
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