Is it a Buyer’s or Seller’s Market in September 2015 in the Temecula Valley?

Market Statistics for Murrieta and Temecula – September 11, 2015

There are 683 Single Family homes listed for sale under $650000 in Murrieta and Temecula

There are 28 homes under $300000 in Murrieta and 10 under $300000 in Temecula

There are 145 listings In Temecula between 300k and 450k and 240 listings in Murrieta between 300k and 450k.

56% of homes for sale are between 300k and 450k – that’s the “sweet spot” 

Sales

327 single family homes SOLD in Murrieta and Temecula in August 2015 under $650,000 – that’s 11 MORE than in 2014

423 single family homes SOLD in Murrieta and Temecula in July 2015 under $650,000 – that’s 111 MORE than in 2014

By the way – 201 single family homes SOLD in ALL price categories in ALL of Huntington Beach, Fountain Valley and Costa Mesa Orange County in August 2015. Temecula and Murrieta have VERY HIGH sales month on month compared to Orange County and San Diego counterparts.

BOTTOM LINE:

Bottom line our market in July was MUCH stronger than in 2014 and in August slightly better than 2014.

There is 2 months of inventory on the market but the good listings sell quickly due to high market demand.

Are Prices Going Up or Down??

Seasonally the Inland Empire market slows down in the Fall and Winter months, though sales are still brisk.

Expect some price reductions over the next few months but stay away from the “Doomesday thinkers” – all they will do is keep you from fulfilling your American Dream. Are we going to see 15 – 20% reductions?

NO…..not unless the home was priced 15% over market in the first place.

You are more likely to see sellers paying some or all of buyers’ closing costs in the winter months – so write your offers while the opportunity is good.

Sellers – be prepared for buyers to ask for help with closing costs – remember many of our buyers have limited cash reserves using FHA or VA programs.

If a home is priced at the same price as the last sale and has similar or better upgrades, it will sell within a few days in many cases.

I just wrote an offer in September on a home off Rancho California Road that received 14 offers in 4 days – and it was a beautiful home!

Buyers are out there in force but buyers are looking for a fair deal – there is resistance to runaway prices but acceptance of fairly priced homes.

 BOTTOM LINE:

Sellers: Price at the market, not above the market, and make sure you are ready for respectful requests from buyers asking for help with closing costs.

Work with a Realtor who is current with the market as a whole or you may end up missing an opportunity to sell just through lack of information!

Buyers: You have inventory to choose from but the good homes often sell within a week so work closely with a FULL TIME Realtor – part time Realtors often miss the good deals.

For all of your buying and selling needs please contact:

Warburton Properties, BRE 01919516

Call 888 336 9631

“We Live Here – We Work Here”

www.warburton-properties.com

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