We are already half way through the month of May which means summer is not far away. I am really looking forward to days spent at the beach and time to relax with my kids. In my article for the month I will be looking at what the Menifee real estate market is up to. I am hopeful to see our numbers on the rise! As always my stats are based on single family, detached residences, with 3+ bedroom and 2+ bathrooms.
· Total # of Active Listings: 45
· Average Listing Price for May: $337,154
· # of Homes Sold in April: 67
· Average Sold Home Price in Menifee: $252,160
· Average Days on the Market: 63
I can see right away that we have increased the number of listing in Menifee from 40 in April to 45 now in May. That’s not a huge increase by any means but it is an improvement from last month. The price in which they are selling at had improved slightly from $311,703 to $337,154 8%. With a little more supply this month it’s makes it easier to get buyers into homes.
Now taking a look at our closes in Menifee, the number of closes has dropped from 82 in March to 67 now in April. These homes are selling for a little more than they were in March by about $12,000. We are also seeing that homes are remaining on the market a little longer than in previous months.
If you or someone you know is looking to enter into the real estate market contact my office and I would be more than happy to help assist you.
By: Stefan West - Owner/Broker of West Realty