Temecula home prices May 2018 look like this…
According to the California Regional Multiple Listing Service, the average selling price of a single-family, Temecula homes in May 2018 was $533,384. That is actually UP 9.90% from May 2017. But there are only 2.2 months of supply until we run out of single-family homes to sell here in Temecula. The 2.2 months of supply or inventory is down 15.40% from 2017.
Please be pre-approved before searching for a home. It is a hot seller’s market and you need to be prepared…just sayin’.
Temecula Homes Are Selling for Less Than List Price
This is another key indicator to see what is happening in the marketplace. If homes are selling for full price or above, then you know we are in a seller’s market. Let’s look at the real world numbers here in Temecula.
In May 2018, Temecula homes were selling for 98.20% of the listed price. That seems like a normal real estate market to me. Even though many of my clients would probably say otherwise since they are having to bid above the listed price to get a home.
But remember this is an overall average of all single-family homes in Temecula.
What are the Hottest Temecula Home Selling Price Ranges up to May 31st, 2018?
From the chart below, you can see that the hottest price range that is selling the most up to May 31st, 2018 is
Video of Average Selling Temecula Home Prices May 2018
Quick Summary Review of Temecula Housing Prices May 2018 vs May 2017
Temecula Home Prices Comparison Flow Chart 2018 2017
Home Sales Prices: $533,384 $485,422
Days on Market Until it Goes into Escrow: 34 51
Percentage of Listed Price that Homes Selling for: 100% is full price. 98.20% 97.50%
Citywide Price per Square Foot: $224 $205
Total Sales of Single-Family Homes Year to Date 767 862
Historical Sales of Temecula Home Prices by Month and Year
|Sales, Number of Temecula Home Sales|
Temecula Home Prices: Original Price vs Sold Price by Month and Year
|Month||Original Price, Average||Sale Price, Average|