Menifee Real Estate Update - June 2011

Another gorgeous day in Menifee! This and the fall are truly my favorite time of year. Soon I will be starting my update posts with, "Holy Cow - How to Cook an Egg on Sidewalk!" Ok, I am exaggerating but I truly enjoy showing and selling Menifee real estate when the weather is so fantastic.

I know you aren't reading this because you want to hear about the weather. You want to know what is going on with Menifee Real Estate and how it affects you weather you are buying or selling a Menifee Home. Hopefully, this statisical information can be helpful to you for whichever side of the transaction you may be on.

As I stated in my previous update, I cover specific stats that focus on total active homes on the market, how many sold the month prior, and the price and average time it took. These stats are based on 3+, 2+ bedroom, detached homes priced under $1,000,000. Now on to the data...

Menifee CA Real Estate - June 2011 Update - As of 6/2/11

• Total Active Homes Listed - 278 Homes
  
• Average "Active" List Price - $229,744
  
• Menifee Homes Sold in May - 75 Homes
  
• Average Sold Home Price - $206,186
  
• Average Days on Market - 81 days

Let's start with Menifee home sales for May. When comparing against last month's update, we see that sales went from 82 in April to 75 homes in May. We also see that the active average price point has decreased but only by $645. Also the active market itself has hardly changed with 280 in May to 278 in June.

But we did see something interesting - it could be a fluke (only consistency will tell). The average price of Menifee real estate sold nudged upward from $201k to $206k. It is a minor increase but we also see that the days on market shrank as well from 93 days in April to 81 days in May. Those are both interesting demand side indicators to keep an eye on.

Things will pick up during the Spring and Summer of course. Menifee is always a pretty active market when compared domestically and things are heating up (pun intended) as schools are letting out and people are making the annual Summer move plans. I look foward to a busy summer and will keep posting market stats so you can see how we are doing!

And to all our Military personnel - I hope you men and woman had a great Memorial Day weekend. My family, my clients, and all of us in Menifee and the surrounding communities appreciate and applaud your duty on our behalf! Stay safe and God Bless!

Sincerely,

Stefan West, Broker of West Realty
Temecula Real Estate
Menifee Real Estate