Menifee CA Homes Market Analysis April 2012

Happy April! I hope you all were able to get your taxes done with plenty of time and very little stress. I want to get right in to my analysis because there have been some really interesting numbers being thrust into the pot here. When I received my numbers, I was surprised to see what had happened. As usual, my figures are for single family homes, detached, with 3+ bedrooms and 2+ baths. Here we go:

•    Total Actively Listed On Market in April: 159
•    Average Menifee Property Listed Price: $ 231,299
•    Total # of Menifee Properties Sold in March: 94
•    Average Sold Menifee Home Price: $ 214,229
•    Average Days On Market Of Properties Sold in March: 90

After seeing the active stats for Menifee, it seems that they are mirroring what happened in Temecula. Supply is being affected in Menifee Homes Market also. The total number of homes actively listed dropped from 195 homes in March to 155 homes in April. This 17.5% decrease mirrors almost precisely how Temecula's real estate market was affected. The price that these fewer properties are listed at rose from $227,000 to $231,299. That is a minute change of 1.69%. This drastic drop in supply is a bad sign for Menifee's real estate market.

The closed stats also mirrored what I saw in Temecula this month. The number of properties sold in March shot up 67%! That is one of the greatest percentages I have seen from month to month. The price at which these properties sold also rose from $206,225 to $214,229. That is a slight growth of 3%. The average days on market rose from 76 days to 90 days. That is a difference of 18.42%. That is a pretty significant change in the number of days on market. Overall, the supply has been hit pretty hard. The amount of properties actively listed isn't keeping up with the amount of properties sold.

And that is my Menifee Homes Market Analysis for April 2012. I hope you found what I discovered with April's numbers insightful. If you have any questions or anything you would like to add, don't be afraid to shoot over an email. I hope you stay in excellent health and we will meet again in May.

Stefan West