Time is running along! March is here and I'm continuing to stick to my 2012 New Year's resolution of continuing my monthly market projections in a timely fashion. In March we find St. Patty's day, an out of this world thunder storm, and some large percentage differences in my Menifee real estate market statistics. My statistics are specified to single family homes, detached, with 3+ bedrooms, 2+ baths. Let's see what Menifee has in store this month:
• Total Actively Listed On Market in March: 193
• Average Menifee Property Listed Price: $227,442
• Number of Menifee Homes Sold in February: 56
• Average Sold Menifee Property Price: $206,225
• Avg Days On Market Of Homes Sold in February: 76
So, Menifee's housing market had some significant changes for the closed numbers in February. Beginning with the number of homes sold, the difference was a decrease of about 18%. That is a difference of about 15 properties. The average sold price rose from $191,280 in January to $206,225 in February. That is about an 8% increase. Therefore, less properties were sold at a higher average price.
The days on market in February had quite a significant decrease in March's market analysis. It dropped from about 100 days to about 76 days. That is a 21.65% fall in the number of days on market. That is huge jump from month to month. We don't see that big of a percent difference very often. It seems people were ready to shop and close quickly this past month.
It seems like March's active numbers are mimicking February's closed numbers. By that I mean that the number of active homes has dropped while the average listed price has increased. The number of active properties listed decreased from about 280 homes to 193 homes. That is nearly 100 properties! It is a 32.04% fall in number of homes, the most significant change this month! This is a very large and quite uncommon difference in figure. The average listed price did the opposite. It rose about 5.72%, from $215,000 in February to $227,000 in March. So fewer homes are listed and they have a higher average listed price. Hopefully, in April there isn't another huge change in my figures like that again. I'm not sure if Menifee's real estate market could handle that.
That was my Menifee real estate market statistics for March 2012. If you have any questions, don't hesitate to ask. I hope I'm leaving you and your family healthy and happy. Happy St. Patrick's day!
Stefan West
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