Hello, Temecula homeowners and future residents! Let's dive into the numbers straight from the Quick Market Report. Our analysis covers a significant 268 residential listings across Temecula, giving us a comprehensive view of the current landscape. Here’s a quick glance at the overall market activity:
Average List Price (Overall): Approximately $1.37 Million
Median List Price (Overall): Around $882,700
Average Home Size: Homes are averaging 4 bedrooms and 3 bathrooms
Average Square Footage: Approximately 2,826 SqFt
This snapshot immediately tells us that Temecula continues to offer a wide range of properties, from more modest homes around the median price point to luxury estates driving up the average.
What's Currently On Offer? Active Listings
Currently, Temecula boasts a robust 268 active residential listings, offering a diverse array of homes for every taste and budget. The average list price for these homes stands at approximately $1.43 million, with a median price of $899,999.
Average Price per Square Foot (Active): $469.00
Average Days on Market (CDOM): 116 days
These figures suggest a market with ample selection, but also one where homes are taking a bit of time to find their match.
The Market's Pulse: Under Contract & Pending Sales
Beyond active listings, what truly signals market health is the number of homes moving through the sales process. This report shows significant buyer activity:
Under Contract: There are 8 homes currently Under Contract. These homes were listed at an average price of $755,562 and spent an average of 83 days on the market before an offer was accepted.
Pending Sales: Another 7 homes are in Pending status, indicating they are very close to closing. Their average list price was $678,443, and they moved to pending in an average of 52 days.
These numbers underscore that despite a decent inventory, qualified buyers are actively making offers and properties are consistently transitioning towards sale.
The Real Deal: Recently Closed Sales (True Market Value)
The most reliable gauge of true market value comes from properties that have recently closed. This month's data includes 11 closed sales:
Average SOLD Price: $799,569
Median SOLD Price: $695,000
Average Sold Price per Square Foot: $405.13
Average Days on Market (Closed): An impressive 46 days
The quick turnover for closed sales (46 days) is significantly faster than the average days on market for active listings (116 days), suggesting that well-priced homes in desirable conditions are still moving very efficiently.
Anticipating Tomorrow: What's 'Coming Soon'?
For those looking to get ahead of the curve, keep an eye on the 7 homes currently listed as 'Coming Soon'. These properties haven't officially hit the broader market yet, but are poised to do so. The average anticipated price for these upcoming listings is substantial, at $1,814,856, hinting at more high-value options entering our market shortly.
What Does This Mean for You?
For Buyers: There's a good selection of homes available, and while some spend longer on the market, well-priced properties are still being snapped up relatively quickly. Keep a close watch on "Coming Soon" listings for early opportunities!
For Sellers: Homes are selling, and strong prices are being realized. The quicker sales time for closed properties (46 days vs. 116 for active) emphasizes the importance of strategic pricing and presentation to stand out in the current inventory.
Ready to Make Your Move?
Understanding these market dynamics is crucial whether you're considering buying, selling, or simply reassessing your property's value. Every home and situation is unique, and a general market report is just the first step.
For a personalized market analysis tailored specifically to your home and goals, or to discuss how these trends impact your next real estate decision, don't hesitate to reach out!
To buy or sell a home call:
Scott and Caroline Doan, Realtors®
Realty Executives
28581 Old Town Front St. #100
Temecula, CA 92591
(951) 541-3498
📧 Email: [email protected]
🌐 Sellers Website: www.doan.realtor
🌐 Buyers Website: www.doanteam-realestate.com
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