Is the Temecula/Murrieta Housing Market Better or Worse than last year?
HERE ARE THE FACTS
One of the first questions buyers and sellers ask me is “How is the market doing? Are prices going up or down?”
Unfortunately most real estate agents answer the question subjectively depending on how much they sold their last listing for. But what are the REAL FACTS for the Temecula and Murrieta single-family residential market?
233 single family detached homes SOLD, (not including condos and townhomes), in Murrieta and Temecula in February 2015 – about the same as February 2014 (245 sold).
Buyer activity is strong – please note that in February 2005 the total SFR sales were 245 – and that was at the PEAK of the market!
The market is still price sensitive – buyers from San Diego, Los Angeles and Orange County are looking for deals as they are priced out of their local markets. In February 2015 163 of the 233 Murrieta Temecula sales were under $400,000 and 44 more sold between $400k and $500k – these numbers closely parallel February 2014 results.
“Can I offer lower than asking price” is the #1 question buyers ask in our market today – and the answer is “Usually YES unless the home is already the best priced home in the neighborhood”. In February 2015 of the 233 homes sold 152 reduced their price to sell – that’s 65%.
Warburton Properties Realtors work diligently to find their buyers the best priced homes with the best terms and the best loan – we work tirelessly until you find YOUR AMERICAN DREAM.
Ask for Andrew, Annette or Katherine – “We Live Here – We Work Here”
For Immediate Assistance call 1 888 336 9631