All right, so here is your October, 2025 real estate market update. We're gonna go over all the latest stats for the city of Temecula, Murrieta, and Menifee, California. Let's go ahead and get into it.

Hey guys. Hey again. My name is Justin Short. I'm a realtor and team leader with the short real estate team here at Keller Williams in Temecula. And this video is our monthly staple. This is our monthly real estate market update for October, 2025. So we're gonna go over all the latest stats over the last 30 days, keep you guys updated, kinda what's going on in the market, and then we're gonna compare today versus a year ago.

To hopefully give you a really good idea, kind of how things are changing, what's been going on, and hopefully it'd be good information for you guys. So, um, but before I get into all the information, you know, if you are like in real estate videos like this. Please do me a favor. 

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Point you in the right direction. Or of course, if I can help you out with your real, real estate search, uh, I'd love to help you, help you with that. Obviously, you know, that's how I earn a living. Uh, that is my direct cell phone number, so I would love to be a resource for you. Cool. All right, so let's go ahead and jump into some of these stats here.

So the first thing that we're gonna talk about is the total number of new listings. And this is basically, hey, over the last 30 days, how many new listings have come up on the market? And then let's compare that to a year ago, so that way you guys get an idea, kind of what's been going on, what's been changing, et cetera.

So, um, the city of Temecula. A year ago, so it was October, 2024, we saw a total of 225 new listings coming up on the market. And then if we compare that to this year, so over the last 30 days, we've seen a total of 185 new listings coming up on the market. So that is less, I mean, that is 40 less homes coming up on the market this year compared to last year.

It's an 18% change. Um, and this is kinda the first time we've seen this stat over, over the last. Probably six months or so. So we've been seeing more and more, more listings. Um, but this one we're finally seeing a few less. Um, it could be, you know, seasonal as we're starting to get, you know, we're past, past summer, starting to get into fall, etcetera.

Um, but we saw the other two cities actually went up instead. So we saw more listings than the other two cities. So City of Murrieta, a year ago we saw a total of 227 new listings coming up on the market. This year we're up to two 40, so it's an additional 13 homes. It is an increase, I mean, it's not super, super significant, um, but the city of Menifee has a little bit bigger increase.

So a year ago we saw a total of 231 new listings coming up on the market, and this year we're up to 255. So that is a 10% increase. So definitely a bigger change there. All right, so the next stat we're gonna talk about is the total number of active listings. And basically this is just, Hey, in a given city, if I want to go buy a home, say in the city of Temecula, how many homes are there out there for me to choose from?

And this is, you know, regardless of, you know, price, point, size, you know, bedrooms, any of that type of stuff, really not filtering anything out, but just how much inventory is out there. Uh, so the City of Temecula a year ago, so October, 2024. There was a total of 661 available homes for sale this year, a year later.

There are currently 667, so that's more or less exactly the same. It is a 1% increase, but super, super minor change, more or less. The inventory is pretty constant year over year. Uh, and this again, is another change over because over the last six months we've seen the total number of active listings increase, increase, increase, especially the year over year number.

Um, this is the. First time that we're really, we're seeing things more or less about the same. Um, you know, one percent's not, you know, super, super significant there. Um, but the other two cities, we did see a bigger jump. So, uh, the city of Murrieta, a year ago, there was a total of 633 available homes for sale.

Uh, this year we are now up to 723 homes for sale. So that is, that's a 14% increase. I mean, it's an extra 90 homes out there for people to choose from. And, and this is, that's, I mean, I would say over 700, that's probably the biggest, the largest amount of inventory that I have seen over the last, I gotta be six years or so, you know, to have over 700 homes.

It's been, it's been super, super rare. So inventory's definitely starting to stack up in Murrieta. And then City and Menifee, kind of same thing. So a year ago there were a total of 679 available homes for sale, and this year we have. 736 available homes for sale. So, uh, it's a 9% increase, you know, not, not quite as much of a jump up as Murrieta, but definitely starting to stack up and well over 700 homes out there for people to choose from.

All right, so the next stat we're gonna talk about is the average days on market that homes are taken to sell in each city. Um, so in, in this case, you know, when we're looking at this stat, the shorter days on market means homes are selling quicker, which means it's gonna be more of a seller's market. You know, if homes are selling in just a few days, right?

And then if they're taking months and months to sell, uh, that's gonna lean more towards a buyer's market, you know, as far as how, how fast the average homes are selling, right? So, Temecula, a year ago, October, 2024, homes were selling in just 17 days. So, which is super, super fast. That would definitely be considered a strong seller's market.

I mean, less than three weeks. Um, they, the days on market are increasing, so right now in Temecula, the average home is selling in 36 days. So that is a huge increase. It's 111%. You know, it's more than doubled. So that seems super significant. But if you just look at the raw number, I mean, 36 days on average to sell your home, that is not significantly long.

Uh, just over a month, right? Once we get up to about 90 days, over a hundred days, that really lends itself to more of like a true buyer's market. Um, so basically this shows, hey, homes are taking longer to sell. They're not flying off like they were a year ago. The market has saturated a little bit. Um, you know, we saw the other stats.

Inventory is sitting, so it's, it's not a nice home where it's not priced well, it's not gonna sell, but still on average it's about a month. You know, that's not. Super significant and uh, that's probably why we haven't seen a bigger change in, you know, pricing or seen a bigger dip. 'cause you know, homes aren't.

Really sitting for long if they're priced well and if they're, they're nice homes. So, uh, city Murrieta and Menifee we're kind of seeing the same trend line, so they are taking a little bit longer to sell. So a year ago, the city of Murrieta, the average home was selling in 28 days. Uh, this year the average home is now selling in 41 days.

Uh, so that is a 46% increase. Which again, sounds bigger than it is, but you know, they're, it's basically an extra two weeks, or, you know, 13 days longer that homes are taken to sell. Um, still less than 45 days and not Super long at all. Uh, in the city of Menifee a year ago, the average home was selling in 34 days.

Uh, we are now up to 47 days, so it's definitely starting to get up there. Uh, it is a 38% increase, just, you know, still less than two months. Um, so what, we'll see how. If that stat continues to change, it will continue to lengthen over the next few months. All right, so the last stat we're gonna talk about is the average sales price.

So, and this is really what most people care the most about, right? Is you know, what's going on with home prices? Are they going up, are they going down? You know, what, what is happening? Um, and really across the board there are more, they're more or less flat, um, year over year. So, uh, a year ago, the average home in the city of Temecula was selling for $904,000.

Uh, this year they have dipped. All the way down to $903,000. So it's a $1,000 change. You know, it is, it's less than 1%. It's not really super significant. More or less, home prices are really flat in the city of Temecula, you know, year over year. Uh, city Murrieta, we actually saw a bigger increase. So a year ago, the average home was selling for $678,000.

Uh, now the average home is selling for $713,000, so that's a 5% increase. Um, you know, I've mentioned this in a lot of my videos before, but if, when we see these increases that are kind of outliers, especially, you know, it's not what we're seeing, you know, as real estate agents on, on a daily basis, you know, with our listings and clients and things like that, a lot of times there might have just been a couple higher end homes that have sold, or a few less lower end homes that have sold that are kind of skewing some of these numbers and the averages.

Uh, but right now the average home Murrieta is selling for $713,000. Uh, city of Menifee, a year ago, the average home was selling for $579,000, and this year it's up to $584,000. So it's a $5,000 increase. Um, again, not, not super, super significant. Um, what I will tell you is, you know, it does seem like home prices and, but the stats that, you know, we track and we pay attention to, um, they are very steady year over year, really flat.

Uh, we are seeing more price reductions. I think a lot of that is a result of people maybe overpricing or trying to push the price point too much, or not being realistic about where the market is. Um, you know, you're probably not gonna be able to sell for $20,000 more than your neighbor did just a few months ago, right?

Uh, so we're seeing more price reductions, really more than. In a very, very long time. Uh, but at the same time, even in these price points that are really about the same, we are seeing more concessions from the seller to the buyer. So what that means is a lot of times the buyer will pay a certain purchase price, but they'll ask for closing costs.

They'll ask for their escrow fees to cover title fees or some lender fees, or, you know, some closing cost assistance from the seller. Um, that, that is happening a lot more today than it was a year or two ago for sure. Um, so when and when we see that. That's not really showing us a lower sales price. It's kind of baked into the purchase price there.

So, um, even though prices are pretty flat, I would say there still is a little more concession from, from sellers. They probably are netting a little bit less today than they were a year ago. Just 'cause the market has slowed a little bit because there is so much to choose from and there's just, there's more competition.

So, um, anyways, hopefully that's good information for you guys. You know, feel free to reach out if you have any questions. You can call, you can text, you can email me and hopefully talk to you soon. Thanks.