All right, so here is your June, 2025 real estate market update. We're gonna go over all the latest stats for the cities 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 a short real estate team here at Keller Williams in Temecula, California. And this video is our monthly staple. We do the monthly market update. So we're gonna go over the stats, uh, that we've seen here locally over the last 30 days and compare them to what we saw a year ago.

So give it the year over year difference. And we're gonna go over, you know, sales price, talk about new listings, you know, how long homes are taking to sell, and then how much inventory is out there on the market. But before I get into all the information, you know, do me a favor. If you are liking real estate videos like this, please hit like please sit, subscribe.

Obviously it helps me and as helps my channel as we continue to grow it. Um, and then if you guys have any real estate questions. You know, you can feel free to reach out anytime. So, um, you're gonna see my information either down below the video or at the end. You're gonna see my cell phone, my email, uh, you can feel free, you can call, you can text, you can email me.

I'm happy to answer any questions you may have. Of course, I would love to point you in the right direction. Or of course, if I can help you out with your real estate search, you know, would love to help you out with that as well. So, um, we'll go ahead and we'll get into all the information. So, um, we're gonna start with the total number of new listings and we'll compare, we'll start with last year, compared to this year, and then, uh.

Can, can I talk a little bit about the change and kinda what's going on? I will tell you just kind of, you know, as a real estate agent, you know, my, my team, my office, my coworkers, other agent friends that I have here in the valley, um, we are definitely seeing more of a real estate market slow down over the last 30 days or so.

So right now it's early June, um, and it's, it's kind of tough because these stats, it's the previous 30 days, right? So. I think you're gonna see that you're gonna continue to see things change in the stats over the next 30 and 60 days as some of these numbers really come to fruition. But kind of what we're experiencing on a daily basis, we're definitely seeing less, less showings, we're seeing less offers, we're seeing more price reductions, homes taking a little bit longer to sell.

So it, it, it just feels like a little bit of a softening of the market For sure. So, which is usually not what we see. Seen at the end of spring going into summer. So it'll be interesting to see how things go. Um, now that, you know, school's getting out and people are really, it's really in that, kinda that prime moving season and time of year.

So. Um, so we're gonna start with the city of Temecula. So a year ago, so June, 2024, uh, we saw a total of 163 new listings come up on the market. And then this year, over the last 30 days, we've seen a pretty big U uptick. So we're now up to 195 new listings that have come up on the market. So that's a 20% increase year over year.

City of Murrieta. A year ago we saw 196 new listings. This year we're at 197, so almost exactly the same. You know, it's just a little bit less than a 1% change there. Uh, it's only, you know, one more home coming up on the market this year compared to last year, from the City a year ago we saw a total of 224.

This year we're actually down a little bit to 198. So that's a 12% decrease. So it's kind of a little bit of a mixed bag. You know, Temecula, we're seeing more listings. Murrieta is exactly the same. And then Menifee is less. Um, so kind of, kind of interesting, but, um, we'll, we'll roll into the other stats. All right, so the next stat we're gonna talk about is the total number of active listings.

And basically this is just, Hey, if I wanna buy a home in a given city, say the city of Temecula, you know, how many homes do I have to choose from? So regardless of lot size of home, size of, you know, condo versus town home, just, you know, how much inventory's out there for a given city. And across the board, it's pretty big.

Tick up in inventory that is sitting there. Um, and that's really, that's really why 'cause, 'cause it's, 'cause it's sitting. So, um, a year ago in the city of Temecula, there was a total of 308 available homes on the market. This year we're now up to a hundred and I'm sorry, we're now up to 446 available homes on the market.

So that's a 45% increase. That's a huge, huge jump up. Um, that's, I mean, it's a total. You know, that's a almost 140 new, more homes up on the market this year compared to last year. So City of Murrieta, same thing. It's actually a little bit more so a year ago there was a total of 326 available listings on the market.

This year we're now up to 482 available homes on the market. That's a 48% increase. Um, and then. You know, again, that's over, over 150, you know, almost, yeah, over 150 more homes available this year compared to last year. So that's super, super significant. Um, and then City of Menifee, a year ago we were at a total of 376 available homes. This year we are now up to 498.

So a little over 120 more homes to choose from. That's a 31% increase. I gotta tell you, since I started creating these videos, it's actually, it's been a while. I've probably been doing these, these monthly videos for like five years now. This is the biggest increase that I have seen in the total number of active listings.

So, um, it's, it's a pretty big jump up. Um, you know, that is, uh, it's, that's significant for sure, and especially when we go over that last stat to where inventory is more or less about the same. You know, it's had a few more, but more or less very consistent as far as how many new homes are coming up on the market.

But there's just so many more that are sitting and have been sitting over the last couple months that they're starting to accumulate more and more. All right, so the next stat we're gonna talk about is your average days on market. So basically, this is just how long the average home is taking to sell in each given city.

So, you know, the shorter the, the shorter that timeline is, you know, the quicker homes are selling, the more of a seller's market, uh, the longer those homes are taking to sell, the more that's turning into, into a buyer's market. So across the board In all three cities, average days on market are definitely up.

And I think you can probably assume that knowing that there's so much more inventory out there. So, uh, city of Temecula, a year ago, I'm actually surprised it was so low, but a year ago the average home was selling in just 17 days. So that's a super heavy sellers market a year ago in Temecula, um, we are now up to the average home selling in 34 days.

So that is, I mean, it's doubling, you know, it's a, it's a 67% increase, but homes are taking twice as long to sell in, in Temecula, but they're still only taking up to 34 days. So, um, that is not. In indicative of a super strong, you know, buyer's market, um, that would, you know, anything under 60 would definitely still be considered to be a seller's market.

So, um, these are stats to keep an eye on over the next couple months as some of these newer transactions start to close. And some of these homes that have been sitting, I think you're gonna see this continue to, to, uh, to this average is on market stack. Continue to go up and up and up. So. Uh, city Murrieta..

A year ago, the average home was selling in 27 days. Uh, this year it's now up to 41 days, so it's about a two week increase. It's 52% more. Uh, city of ee. A year ago, the average home was selling in 35 days, and now we are up to 43 days. So, you know, across the board, average days on market are definitely up.

Um, although just that end result is just, just not super long. So, again, we'll keep an eye on this over the next couple months and something to pay attention to. All right, so the last stat we're gonna talk about and really what I think is most important, and we're gonna talk about the average sales price for each city.

Um, so, you know, as we've kinda talked about the other stats, uh, there is inventory. The new listings coming up in the market are more or less about the same, you know, uh, compared to a year ago. But there's a lot more inventory out there. Homes are starting to take longer to sell. It's just not super significant yet, but they're sitting more and more, um, but average.

So you would think we might start seeing some. Average sales prices dip. Um, and that's, that's really not the, really not the case just yet. So, um, the City of Temecula, so a year ago, the average home in the city of Temecula was selling for $806,000. Uh, right now it's up to $867,000. So that's a huge increase.

It's a $61,000 increase. I don't think I talk about this every month, but  when we look at this average sales price, you know, you're looking at all the sales over the last 30 days, right? So, you know, a few outliers low or a few outliers high can definitely throw off the stats. I don't think homes have appreciated 8% over the last year, but I definitely think it's fair to say that they're, they're more or less about the same.

Maybe they've increased just a little bit, um, but we're definitely not seeing a decrease there. So, uh, city Murrieta. The last, a year ago, the average home was selling for $739,000. Uh, this year it's up to $782,000, so that's another 6% increase. It's over, you know, it's almost about a $40,000 price increase year over year.

Uh, same thing applies, I think, you know, probably some outliers, but overall things trending up slightly, more or less about the same. And then city of Menifee, uh, you are seeing a little bit more of a difference there. So a year ago, the average home was selling for $595,000. Uh, this year they're down to $578,000.

So, um, you know, if there is any real change that's a little bit more believable of a number. So definitely something to keep an eye on. Again, a few outliers can, can really throw these things off, but, um, that's definitely a dip in average sales price over the last 12 months for Menifee.

So. Um, again, you know, as real estate agents, we're definitely seeing a little bit of a softening in the market. Um, it's gonna be interesting to see what happens over the next couple months, especially, you know, there's a lot of, uh, unknown happening in the world right now. A lot of transition, a lot of, you know, different political things that are going on.

People keep asking me. You know, when our interest rate's gonna drop. We have not seen that happen yet. I think the true answer is nobody really knows when that's gonna happen. I think, uh, we've all been trying to predict that for the last two years nobody's been right. So, um, you would assume it's gonna happen at some point, but we just don't know when that's actually gonna happen.

Um, and I would assume when that does happen and we start seeing, uh, some, some more activity and some of these homes start getting snapped up off the market. So anyways, I hope that's good information for you guys. If you have any questions, feel free to reach out. You can call, you can text, you can email me.

Uh, you can see my information down below and hopefully talk to you soon. Thanks.