Central Murrieta Market Report

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Central Murrieta Market Report

Inventory:  New Listings & Sales

This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in August 2018 was 83, down -6.7% from 89 last month and up 9.2% from 76 in August of last year.

Property Sales

August property sales were 55, down from 59 in August of 2017 and equal to 0.0% 55 sales last month. August 2018 sales were at a mid level compared to August of 2017 and 2016. August YTD sales of 465 are running -6.1% behind last year's year-to-date sales of 495.

Prices

The median sales price in August was $405,000, up 6.6% from $379,900 in August of 2017 and down -1.2% from $410,000 last month. The average sales price in August was $406,984, up 1.7% from $400,190 in August of 2017 and down -1.0% from $411,098 last month. August 2018 ASP was at highest level compared to August of 2017 and 2016.

 

Market Time

The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer's market, a downward trend a move towards more of a seller's market. The DOM for August was 36, up from 28 days last month and up from 19 days in August of last year. The August 2018 DOM was at its highest level compared with August of 2017 and 2016.

Selling Price Per Square Foot

The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the 'mix' of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The August 2018 selling price per square foot of $214 was up 2.4% from $209 last month and up 9.2% from $196 in August of last year.

Selling Price vs Listing Price

The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer's market exists, a ratio at or above 100% indicates more of a seller's market. The August 2018 selling price vs list price of 98.6% was down from 98.7% last month and down from 99.0% in August of last year.

Active Properties
Address Beds Baths Living ft2 List Price Cost per ft2 DOM
24586 Grand Oaks Court 4 3 1,816 $444,999 $245 24 days
25509 Marvin Gardens Way 3 3 1,693 $414,900 $245 29 days
24088 Golden Pheasant Lane 3 3 1,732 $379,900 $219 15 days
23673 Corte Sabio 2 2 1,495 $394,900 $264 9 days
23734 Pinnie Circle 4 3 2,492 $429,000 $172 208 days
Average: 3.2 2.8 1,845 $412,739 $229 57 days
Viewing 1 - 5 of 5
Viewing 1 - 5 of 5
Sold Properties
Address Beds Baths Living ft2 List Price Sold Price Cost per ft2 DOM Sold Date
27568 Rosebud Street 3 3 1,797 $355,000 $360,000 $200 13 days 3/22/19
23724 Lincoln Avenue 3 3 2,469 $439,999 $435,000 $176 17 days 3/22/19
23753 Morning Glory Drive 5 3 2,687 $445,000 $450,000 $167 19 days 3/22/19
40366 Via Estrada 2 2 1,502 $365,000 $350,000 $233 92 days 3/21/19
24075 Verdun Lane 3 3 2,290 $479,900 $462,500 $201 38 days 3/20/19
24823 Hollyleaf Lane 4 2 1,520 $385,000 $388,000 $255 38 days 3/20/19
27389 Bottle Brush Way 5 3 3,658 $522,000 $431,550 $117 11 days 3/19/19
39515 Willowbend Drive 4 3 2,538 $438,000 $425,000 $167 9 days 3/19/19
28691 via Las Flores Unit #331 1 1 762 $189,000 $186,925 $245 5 days 3/18/19
40139 White Leaf Lane 5 3 2,550 $419,900 $419,000 $164 22 days 3/18/19
Average: 3.4 2.6 1,996 $397,730 $393,483 $212 55 days
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Viewing 1 - 10 of 165

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.