Menifee's Market Analysis for November 2012

We are fast approaching Thanksgiving with it only being a week away and the dreaded day after “Black Friday”. You won’t see me out in the madness but if you choose to join in the holiday shopping for those bargain prices good luck. In this month’s report we will be looking at what the Menifeereal estate market is doing. As always my stats are based on single family, detached residences, with 3+ bedrooms and 2+bathrooms.

       ·         Total # of Actives Listed in November: 65

·         Average Menifee Home Listed Price: $273,710

·         # of Homes Sold in October: 73

·         Average Sold Menifee Home Price: $219,589

·         Average Days on the Market: 80

Well looking right away I see that we have dropped 9 houses off the market this month. That’s not what I was hoping for. With it still being a seller’s market out there it’s proving difficult for buyers to have their offers accepted. I do see that our average listed home price has improved somewhat. In October we had a price of $263,882 vs. November’s price of $273,710, an improvement of over 3.5%.
Moving onto our sold numbers for the month of October we have not moved a whole lot in comparison to September. We had 87 homes close in September and in October we had only 73. The average selling price only changed by a little over a $1000 and the days on the market only dropped by 1 day.
I hope this article finds you all well and in the holiday spirit. Have a wonderful thanksgiving and check back with me in December.

Please feel free to contact me if you have any questions or if you are ready to enter into the real estate market. If you are looking for the value of your home I would be more than happy to do a complimentary market evaluation for you.

Stefan West – Owner/Broker of West Realty