Menifee Homes Market Statistics March 2012

Time is just flying by! March is already here and I'm still sticking to my 2012 New Year's resolution of continuing my monthly market projections in a timely fashion. In March we find St. Patty's day, a crazy thunder storm, and some significant percentage changes in my Menifee real estate market statistics. My stats are pointed toward single family homes, detached, with 3+ bedrooms, 2+ baths. Let's see what Menifee has in store this month:

• Total # Actively Listed On Market in March: 193
• Average Menifee Property Listed Price: $227,442
• Number of Menifee Properties Sold in February: 56
• Average Sold Menifee Property Price: $206,225
• Avg Days On Market Of Homes Sold in February: 76

So, Menifee's real estate market had some significant changes for the closed figures in February. Beginning with the number of properties sold, the difference was a drop of 18.84%. That is a decrease of about 15 properties. The average sold price rose from $191,280 in January to $206,225 in February. That is a 7.81% increase. Therefore, fewer properties were sold at a greater average price.

The days on market in February had quite a significant decrease in March's market report. It dropped from about 97 days to about 76 days. That is a 21.65% decrease in the number of days on market. That is substantial jump from month to month. We don't see that large of a percentage change very often. It seems people were ready to shop and close quickly this past month.

It looks like March's active numbers are mimicking February's closed numbers. By that I mean that the number of active properties has decreased while the average listed price has risen. The number of active homes listed decreased from 284 homes to 193 homes. That is almost 100 properties! It is about a 32% drop in number of, the most significant drop this month! This is quite a large and quite uncommon change in number. The average listed price did the opposite. It rose about 5.72%, from $215,127 in February to $227,000 in March. So fewer properties are listed and they have a higher average listed price. Hopefully, next month there isn't another huge change in my stats like that again. I'm not sure if Menifee's real estate market could handle that.

That was my Menifee real estate market statistics for March 2012. If you have any questions, don't hesitate to email me. I hope I leave you and your family healthy and happy. Happy St. Patrick's day!

Stefan West