All right, so here is your July, 2025 real estate market update. We're gonna go over all the latest real estate stats for the cities of Temecula, Murrieta, Menifee California. We're gonna talk about average sales price. We're gonna talk about how much new inventory is coming up on the market, how much available inventory out there, and sitting, and then how long the average home has taken to sell.

So 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 real estate Market update. So we're gonna go over all the latest stats over the last 30 days for the cities of Temecula, Marietta, and Menifee, California.

Um, but before we get into all the information, if you are liking real estate videos like this, please do me a favor. Please hit like please sit and subscribe. Obviously, it helps me, it helps my channel as we try to continue to grow it. And then if you guys have any real estate questions, you could feel free to reach out anytime you're gonna see my information either down below or at the end of the video.

You can see my cell phone, my email, you can feel free, you can call, you can text, you can email me. Uh, that is my cell phone number. So you're more than welcome to reach out. Happy to point you guys in the right direction. Just help give you some general advice about the area. Or of course, if I can help you out with your home search, you know, I would love to help you out with that as well.

You know, that's how I earn a living. So I would love the opportunity, so. Uh, cool. Alright, so we're gonna get into all the latest stats. It's gonna be set up the same as our other videos. We're gonna start with a total number of new listings. Um, but before I get into everything, just kind of general message and update for me and kind of what we're experiencing as, you know, real estate agents.

We are definitely seeing more of a market slow down. We're seeing that probably over the last 60 days now, I would say. Uh, we're seeing less showings across the board. Homes are sitting a little bit more. Um, we are, which you'll see as the, uh, once we get to the stats about the total number of active listings, um, homes are taking a little bit longer to sell.

So you'll see that as well. Um, and just a general slowdown and. Softening in the market, we're not necessarily seeing like a huge difference in pricing year over year. We are seeing price drops for people, you know that's had their home on the market and it hasn't sold. We're seeing a lot of price drops and price adjustments, things like that.

Um, so it'll continue to be interesting to see how the market moves over the next couple months. Um, but we're definitely seeing a softening and a little bit more of a stagnant real estate market here locally. Um, I do get a lot of questions about, there's a lot of headlines, you know, nationally about, you know, home price and real estate market is just.

You know, dwindling down. That is definitely not the case, you know, here locally. And I think really for most of California, um, that you, those headlines are true. Those are very area specific though. You know, real estate market is gonna be very, uh, you know, location specific, depends what areas, different markets, different price points, and, you know, different clientele.

So, um, here locally, definitely seeing a slow down. But let's get into all the stats. So, uh, total number of new listings is the first stat we're gonna go over. So really what this is, hey, in a given month, so over the last 30 days, you know how many new homes have popped up on the market? And then we're gonna compare that to a year ago.

So that would be July, 2025. A year ago, there was a total of 176. New listings coming up on the market. Uh, this year, over the last 30 days, we have had 199 new listings. So, uh, that is an increase. It's a 13% increase. I mean, it's, you know, 24 extra homes this year compared to last year. So it's not necessarily super significant, but we are seeing more inventory come up on the market in Temecula.

So, uh, city Murrieta. A year ago we saw a total of 172 new listings come up on the market. And then over the last 30 days we've seen 159. So it's an 8% decrease, so a few less in Murrieta. Um, and then the City of Menifee, we did see more inventory this year. So a year ago there was a total of 189 new listings, and this year we are up to 200.

Six new listings are coming up on the market, and that's a 9% increase. So a little bit of a mixed bag. I would say, you know, across the board, we are seeing more listings coming today than we did see a year ago, but let's get into the next step. All right, so the next stat we're gonna go over is the total amount of active inventory that's on the market.

So, how many active listings this is basically, hey, if I'm a home buyer and I decide I wanna buy a home in a given city, let's say the city of Temecula, how many homes are there out there for me to choose from? So, um, you know, less homes are gonna be more of a seller's market, and if there's more and more homes to choose from, that becomes more and more of a buyer's market.

So, um, the city of Temecula. A year ago, there were a total of 331 available homes for sale. Um, and then this year in Temecula we're up to a total of 508 available homes for sale. So that, that's actually, it's a huge, huge increase. I think that's the biggest increase that we've seen in a while in this stat.

So that's a 54% increase year over year. I mean, that's a hundred and Almost about 180 homes or so more, uh, this year as opposed to last year. So that's really, really significant. Um, and we just went over that last stat as far as new, new inventory, you know, that isn't so significant. You know, we saw an extra 25 homes or so come up on the market year over year.

So it's not necessarily that we're having so many new listings coming up, but it's homes that are sitting that have been listed the last. 30 days, 60 days, 90 days, 120 days that haven't sold, that are starting to accumulate more and more. So, uh, Temecula is the biggest change that we've seen. Um, Murrieta, a year ago, there were a total of 347 available homes to choose from, and this year in Murrieta, you're up to 495.

So that's super significant. I mean, it's a 43% increase. It's an extra 150 homes or so, uh, to choose from. So that's a big indicator as well. Um, the city of Menifee a year ago, a total of 378 available homes to choose from, and this year you're at a total of 515, so that's a 36. 36% increase. So definitely an uptick, you know, year over year across the board.

Temecula is the biggest, you know, needle mover there. But in general, there's definitely more inventory today than there was a year ago. All right, so the next stat we're gonna go over is the average days on market in each city. And basically this is just, hey, in a given city, how long is the average home taking to sell?

If you put it up for sale, you know, how many days is it taking? So across the board, all three cities, we are definitely seeing an uptick in days on market. So homes are taking longer for sure than they were a year ago. However, it is down from last month. And not only that, it's definitely less of an increase than I would think based on, you know, how much more inventory is sitting out there.

And as far as those active listings, that stat we just went over, so, uh, city of Temecula a year, it is July, right? So, um, it is kind of peak summertime and uh, peak real estate market for sure. But in the city of Temecula a year ago, the average home was selling in just 12 days. So, which is super fast. That's a super heavy seller's market.

Um, and this year we are now up to 21 days. Your average days on market. So that is an increase, but you know, it's still, it's three weeks is your average home is taken to sell in Temecula. That is really not very long, you know? Yeah, it's a 75% increase, which sounds like a big deal, but I mean, less than 30 days is definitely gonna be considered a seller's market.

And that is just surprising what, based on that last stat that we looked at as far as, uh, you know, where inventory is. So, uh, city of Murrieta, kind of the same trend. A year ago, the average home was selling in 25 days and it is now taking 30 days. So that is a five day increase, but still, you know, it's a month.

You know, for the average home, not such a big deal. It is a 20% increase, but I think pretty negligible. Um, city Menifee is taking a little bit longer, so a year ago. The average home is selling in 35 days, and we are now up to 44 days. So that's a 26% change year over year. You know, you're still, you know, it's 44 days, it's a month and a half.

That is not very long. In the grand scheme of things. Anything under 60 days would definitely still be considered a seller's market. Um, and it. Just, I think it just goes to show you how sensitive the market is, you know? So if a home is nice and it's priced well, and it's a good area, it's gonna sell relatively quickly.

If it is overpriced, it's gonna sit and it's gonna be avoided. And that's how you're, you're gonna accumulate all those, uh, all those homes that are on, that were on the market in the last at that we just talked about. But, um, I thought we would see a bigger change based on the other numbers we talked about.

But still, you know, 21 days for Temecula, 30 days for Murrieta, 44 days for Menifee. Not super significant. All right, so the last stat we're gonna talk about is the average sales price for each city. Um, you know, across the board, a little bit of a mixed bag here. Um, for the City of Temecula, really not too significant of a change, but a year ago, the average home in Temecula was selling for about $866,000.

This year, the average sales price has dropped over the last 30 days to $840,000. So that is a 3% decrease. Um, you know, to me that that's not super significant. You know, kinda like we've talked about in, you know, these videos. If you've watched this series that we do each month, um, when we, when we see a change, you know, year over year, we're really comparing one month versus another.

You know, like 12 months ago, I. You know, versus the last 30 days, right? Um, so a few outliers, whether a year ago, some higher price point sales, a couple extra $2 million homes that sold can really change this average sales price. And this year, you know, a couple extra. Lower price point homes and not the high end could definitely lower the average sales price.

So a 3% change is not super significant. It is relatively, you know, pretty much stagnant year over year. Um, but it's something to keep an eye on to see if the market does continue to change. Um, city Murrieta, you saw a little bit, uh, of a, of a different change there, so. Last year, the average home was selling for $ 716,000 a year ago, and this year it's now up to $ 774,000.

So that's an 8% increase. So you're kind of on the other side there. But really mid Sevens has been very consistently the average sales price in Murrieta. So again, I think it's more or less about, it's pretty steady. Um, I, I don't think we've really seen much of a change in average Hills Price. And then in the City of Menifee, a year ago, the average home was selling for $ 595,000, and this year you're at $ 561,000.

So it is a 6% decrease. Again, same thing. I don't really feel like it's super, super significant, um, but something to keep an eye on over the next couple months to see how things are trending. So. Anyways. I hope that's good information for you guys. Those are all the stats. Um, and wanted to give you my perception and perspective as a real estate agent and kind of, you know, our team, our brokerage, other colleagues that I have, kind of what we're experiencing on a day-to-day basis.

Um, you know, it's an interesting market. It's definitely continuing to, uh. To change and be interesting month over month. And, um, you know, I'm definitely excited to see how the next couple months go to see if we see any, any change or any more of a true slowdown or maybe we start to see things pick up a little bit.

So, uh, 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.