Temecula Housing Market October 2021

Temecula Homes were Hot in October 2021

Temecula housing market October 2021 is hot with an average selling price of $758,800. This is up 27.60% over 2020. Information like this helps home buyers and sellers to make smarter real estate decisions.

October 2021 Average Sales Price in Temecula

Details of Houses in Temecula, California

The average selling price of houses are up in 2021 so far. Let’s look at some of the other statistics to give you insights into the Temecula housing market.

For example, how long it takes for for a house to sell in Temecula?

In October 2021, it took 15 days from the time it was listed for sale until it went under contract with an accepted offer. That is down 50% from 2020 when it took 30 days. In October 2019, it took 46 days.

That tells me and you that there are less properties for sale and demand is high.

How as a buyer do you overcome this competition issue? Keep reading.

Number of Temecula Homes for Sale in Months of Inventory

In a normal real estate market, there are 3 months of inventory for sale. This applies to Temecula homes for sale as well as condos in most cities. In October 2021, there was 1.1 months of supply of Temecula houses for sale. That is down 35.30%.

Great news for sellers who want to sell now and move. You should have plenty of equity built up since you bought.

Year	Months of Inventory
2019	3.30
2020	1.70
2021	1.10
Number of Listings (now)	0

What is the Average Price per Square Foot for Houses?

The average price per square foot in Temecula was $302.00 city wide. That number will change for each neighborhood and based on square footage ranges.

Square Footage Ranges	Citywide Average Price per Square Foot (sqft)
999 sqft or less	$478.00
1,000 to 1,999 sqft	$356.00
2,000 to 2,999 sqft	$283.00
3,000 or more sqft	$271.00

My Favorite Trends Statistic

There are many factors in helping me and you track the real estate market as you can see above. One of my favorite statistics is the Percentage of the Listing Price that properties sold for.

100% is full price offers accepted. Below that or above that tell us how hot the market is right now.

In October 2021, Temecula homes sold for 102.80% of the listed price. That means houses are selling for 2.80% over the listed price. That is up 2.90% over 2020.

Riverside County Housing Market Forecast 2021

The average selling price of Riverside County homes overall in October 2021 was $633,130. That is up 23.50% over October 2020.

Houses in Riverside County are selling within 23 days after being listed for sale and sell for 102.30% over the listed price.

The overall, there is 1.50 months of supply of homes in Riverside County just to give you a comparison to Temecula that has 1.1 months of supply.

Real Estate Articles and Helpful Information

Besides looking at prices, you need a strategy to be the winning offer. Read my article on “How My Clients Won in a Bidding War for a downtown Long Beach condo in 2021“.

Subscribe to our YouTube Channel for local information about Huntington Beach, Long Beach and other cities. We cover statistics, home buyer tips, home seller tips and local community events.

1. If you are buying and want to an agent to find you off market homes, take our 5-minute questionnaire.
   
2. Request a free copy of my Home Buyer’s Guide. You need wisdom and a plan.
3. Set a budget and stick to it.
   
4. If you are financing a purchase, get “underwritten approval”. That means, you selected ONE lender to handle your financing. You submitted all paperwork to them and they have submitted your financial package to the underwriting team. If your lender says they can’t do that, get another lender. You are playing to win not lose.
   
   Be proactive in this. I have 3 good lenders that I refer out to buyers. All lenders are not the same. I list 3 good lenders in my Home Buyer’s Guide.
   
5. Create a plan or strategy with one Realtor®. We all work on commission and don’t get paid until the sale is complete and all documents are signed off. Our focus is to help you, answer your questions and give you wisdom. Having 3 or 5 agents working for you is not a good way to find a house.
   
   Pick one. Commit to working with them in writing. Don’t work with the listing agent when buying a property. Why? Read more about that topic in this article.
   
6. If you are selling, let’s meet and talk strategy. Declutter the place. Let me take a tour. After we agree to work together, I will give you some wisdom to prepare to sell your property.
   
7. If you are selling your home, I have a free home seller’s guide called “Getting Your Home Sold” Guide…reason from a Realtor with 28 years of experience will help you get the most money possible for your house, condo or income property.

Source of real estate statistics: California Regional Multiple Listing Service not Zillow. Our MLS system is more accurate with data.