Menifee, CA Real Estate Residential Market Dynamics | April 2010 - April 2011
MARKET DYNAMICS - MENIFEE - SUPPLY & DEMAND
In April, 2011 there were 472 homes on the market for sale in Menifee. That is 103 fewer homes than at the same time last year. There was a -17.9% drop in the number of homes for sale in Menifee over the past year.
The number of Menifee homes under contract in April, 2011 was 112. That is 9 fewer homes and a 7.4% decrease from April, 2010's 121.
80 properties that sold last month in Menifee, compared to 94 a year ago in April, 2010, for a 14.9% decrease.
MARKET DYNAMICS - MENIFEE - MEDIAN PRICE
The median list price in Menifee dropped by only $900 from $199,900 in April 2010 to $199,000 in April 2011, signaling only a -0.5% change. There was a -9.3% change in the average price of properties under contract during this time frame. There was also a 2.6% increase in sales price in Menifee during April, 2011 vs April, 2010. This is great news for Menifee sellers. Things are improving!
MARKET DYNAMICS - MENIFEE - MONTHS SUPPLY OF INVENTORY
Menifee's Supply of Inventory dropped 22.5% since April 2010. It is currently at 2.7 MSI (Market Supply of Inventory), with March and April at the lowest in the past year. That is a hopeful sign of a stabilization in Menifee's housing market, which is something we are all looking forward to.
If it's time to talk to a professional who knows, Menifee Real Estate or if you have specific questions relating to your property in Menifee, give me a call at 951.704.6370 or email me at KristiHarden1@Gmail.com.
For a complete listing of Menifee homes and to view today's market trends for Menifee go to www.buyorsellinmenifee.com/community/area/Menifee. Kristi Harden provides an exceptional level of real estate services to home buyers and sellers in Menifee and the entire Temecula Valley. Visit www.buyorsellinmenifee.com to search for homes in Menifee, Murrieta, Sun City, Temecula, Wildomar, Winchester and surrounding communities.
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