As we enter July of 2011, Menifee homes sales continue to be at a hasty tempo!
Summer is often a chaotic time as folks make their move around school schedules among other items. In general, the Menifee real estate market is surely rising upward but that could quite possibly just be the summer time effect. Nonetheless, we are seeing elevated activity which is a fantastic thing! In each and every one of these reports, I pay attention to homes that are detached, single family residences priced below $1,000,000. I like consistent figures so you, the homebuyer, are seeing the exact same standards every time. Let us go directly to the figures:
Menifee Real Estate Analysis Update - July 2011
- Total # of Active Houses Listed - 260
- Average Active List Price - $ 221,861
- Menifee Houses Sold in June - 105
- Avg. June Sales Price - $ 193,687
- Avg. Sold Days on Market - 69
Now let's contrast these Menifee real estate data sets against 30 days ago. To start out there has been very little change in the amount of active houses listed at the moment. It has gone straight down from 278 to 260. That would indicate increasing demand but the number change is slight. Also, the typical active list price tag for Menifee properties was $229,700 in June and has now fallen to $221,861, a decrease of 3.4%.
Next up although is Menifee real estate sales and there we see an increase from 75 properties sold in May 2011 to 105 properties sold in June 2011, a stable increase of 30 homes of 40% more sales! That is a significant move. As for the average sales price tag, we see a decrease from $206,180 in May to a lower $193,680 in June. That marks a decrease of $12,500 or 6% in actual closed sales prices for Menifee properties.
So overall, we have some mixed signals. To sum it up, we have drastically rising sales but smaller prices of both live and sold properties. The days on market help clear this up as it diminished from 81 days in May to only 69 days in June. All of this points toward far more aggressive pricing but also more purchasers making the purchase decision. It also exhibits that the $200,000 price point is a goal zone for a lot of buyers.
I am interested to see how this Menifee real estate pattern will adjust with the figures for closes in July. I will put that report up in the middle of the month or so in August so stay tuned!
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