Table of Contents[Hide][Show]
- What is the Number 1 Reason for Temecula and Murrieta Housing Prices going up?
- What about Foreclosures? People stopped working during the pandemic. Shouldn't there be a lot of foreclosures?
- Comparing Temecula Housing Prices December 2021 to Murrieta Housing Prices
- Video Comparison of Temecula vs Murrieta
Today, let’s compare Temecula housing prices December 2021 to Murrieta home sales. Which city is selling for more? Are housing prices on the rise, stabilized or going down?
In 2021, Temecula saw an increase of 26.20% in the market value of a single family home over 2020. Murrieta home values went up as well by 24.60%.
What is the Number 1 Reason for Temecula and Murrieta Housing Prices going up?
Supply and demand. Plain and simple.
There is a limited number of houses currently for sale in both cities and we are seeing multiple offers on properties for sale.
Some people have refinanced to the lower interest rates and are staying in their homes longer. Sellers who have to sell for a job relocation or want to move to another state like Arizona or Texas, are taking advantage of the seller market environment.
I think 2022 will be just like 2021 in terms of growth in pricing.
Some of my buyer clients are confused. They say “Jay, I hear people are leaving California. Where are all of the empty houses?” No where. We still have high demand for homes and people love California for the weather.
What about Foreclosures? People stopped working during the pandemic. Shouldn’t there be a lot of foreclosures?
There are only nine houses in foreclosure in Riverside County and one in Orange County. Since prices are up, and seller needed to sell because they lost their job or their business closed, they just need to list their home and get it sold for a profit…and move.
Comparing Temecula Housing Prices December 2021 to Murrieta Housing Prices
If you are thinking about buying one of the current Temecula homes for sale or Murrieta houses, you need to review the numbers and watch the video below. The more prepared you are to buy the better. I may find you a house on the market or off the market. But before I can do that, you need to understand housing prices in both cities.
|Real Estate Statistics Showdown||Temecula||Murrieta|
|Average selling prices of homes||$763,145||$664,536|
|Average days on market to sell a house||16||17|
|Percentage of the Listed Price Buyers Paid||102.50%||102.80%|
|Inventory in Months of Supply for Sale||1.10||1.10|
|Average Price per Square Foot||$307.00||$266.00|
|Number of Showings Before Buyers Write a Contract||17.50||19.10|
|Number of Showings per listing for sale||10.30||10.80|
|Total Home Sales for 2021||2,257||2,445|