Скачать или смотреть Market Pulse Jan 2023

Local January 2023 housing market update for Southwest Riverside county courtesy of NextHome Realty Source One.

The local real estate market has experienced a significant shift in the last 12 months, with several key indicators trending downward.

The Median Sales price has decreased indicating a slowdown in buyer demand and increased competition among sellers.

Similarly, the Median Days on Market has increased over the same period, suggesting that properties are taking longer to sell and that buyers have more bargaining power in the market.

The total Sold Properties have also been trending downward, with a significant decline in sales volume compared to last year. This is likely due to the combination of higher prices and longer days on the market, which has deterred some buyers from entering the market.

The percentage of closed price to list price has also been trending downward. This means that sellers are having to accept lower offers than they may have expected, and buyers are increasingly able to negotiate better deals.

Total active listings and total new listings have both been trending downward. This suggests that some sellers are holding off on listing their properties due to the slower market conditions.

Price per square foot has been trending downward as well. This is likely due to the decrease in demand for properties, as well as increased competition among sellers.

Finally, months supply has been trending upward. This means that there are more properties available for sale than there are buyers in the market, giving buyers more choices and more bargaining power.

Overall, the real estate market in this area appears to be an unbalanced buyer's market, with decreased demand, increased supply, and longer days on the market.

Buyers may be able to find good deals, while sellers may need to adjust their expectations and pricing strategies to remain competitive.

Hemet Market Conditions - https://heyzine.com/flip-book/25b46df...

Menifee Market Conditions - https://heyzine.com/flip-book/8b88c4a...

Murrieta Market Conditions - https://heyzine.com/flip-book/0f31b13...

Temecula Market Conditions - https://heyzine.com/flip-book/686c3eb...

Winchester Market Conditions - https://heyzine.com/flip-book/0f118f0...

To schedule a free no-cost no-obligation consultation to answer any questions and come up with home buying plan to get you into your NextHome please call us at 951-404-7020.