Alright, so here is your August, 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 the short real estate team here at Keller Williams in Temecula. And this is our monthly staple video. This is our real estate market update. So we're gonna go over all the latest stats for these. Cities of Temecula, Murrieta, Menifee, California.

And then we're gonna compare today's stats versus a year ago. And then I'll give you, you know, my opinion on the market, kind of what we are, well not so much my opinion, but just kind of what we are experiencing as real estate agents, you know, with our clients and what, what's going on. A little more kind of boots on the ground info.

So, um. Cool. Uh, but before I get into all the information, you know, do me a favor. If you are liking real estate videos like this that are all local, please hit like please sit, subscribe. Obviously it helps me, it helps my channel as we try to continue to grow it. And we have new videos that we put out each and every week.

And then if you guys have any real estate questions. You can feel free to reach out anytime. So you're gonna see my information either down below the video or at the end. You can feel free. You can call, you can text, you can email me. You know, happy to answer any questions you may have to help point you in the right direction.

Or of course, you know, if I can help you out with your search. You know, I'd love to do that. Uh, that's obviously, that's how I earn a living. So I'd love to be a resource for you and love the opportunity to help you. Um, but if not, hopefully the information's good and hopefully it, it, uh, it helps you out.

Cool. Alright, so, uh, we're gonna get into, so all the latest stats, we're gonna keep this really the same format as we've done the, you know, the last year or so. Um, but we are gonna start with the total number of new listings and we're gonna compare last year's stats. So this will be August, 2024 versus the last 30 days here in 2025.

So, uh, we'll start with the City of Temecula. So the total number of new listings. City of Temecula. A year ago we saw a total of 171 new listings pop up on the market, and then this year, over the last 30 days, we've seen a total of 172. So basically there's one more new house coming on the market this year versus last year, more or less.

It's exactly the same year over year as far as the new inventory. That's coming. Uh, city of Murietta, we actually saw a few less listings coming on the market. So a year ago we had a total of 196 new listings. This year we're at a total of 162. Um, so that's a pretty, pretty good, you know, decrease. That's what, 34 less homes this year compared to last year.

That's a 17% difference. You know, that's actually pretty significant as far as new, new inventory coming. Um, and then Menifee we saw again, really exactly the same. Well, yeah, two. To the, uh, a hundred percent exactly the same. So, uh, last year in Menefee there was a total of 191 new listings, and then this year it is a total of 191 as well.

So no change. Same amount of new listings coming up on the market this year, as opposed to last year. Alright, so the next stat we're gonna talk about is the total number of active and available listings. And so this is basically like, Hey, you know, if I'm a home buyer and I wanna buy a home in a given city, let's say Temecula, you know, how many homes are there out there to choose from?

So regardless of, you know, size or square footage or price point, just how much inventory is out there. And I think this is a real interesting stat because, you know, when we, we just looked, you know, the last stat we went over as far as new, new inventory that's. New, fresh coming on the market, you know, there, it's really the exact same year over year.

So that means if our inventory is going up, which, which it is. So I guess, you know, spoiler alert, right? But as inventory goes up and more homes are sitting, you know, and the. Active inventory is increasing. That means there's homes that have been listed over the last several months that aren't just, aren't selling, and they're just, they're, they're sitting.

'cause new inventory, inventory is the same, but total is much larger. Um, and that's just really an active reflection of the slowdown that we're seeing in the real estate market right now. Um. Cool. Let's, we'll, we'll get into the stats. So, the city of Temecula, a year ago, if you wanted to go out and buy a home, there were a total of 348 available homes for sale this year. We are now up to 543 available homes for sale.

So that's a big increase. That's a 56% increase in inventory. I mean, just in, in pure numbers, that's almost 200 more homes available today than there was a year ago. That's a huge, huge difference. Um, the city of Murietta. A year ago, there were a total of 394. Uh, this year we're up to a total of 490, so that's a 24% increase.

Again, just about a hundred new homes this year compared to a year ago. And then the City of Menifee last year, there's a total of 377. And this year a total of 503, again, 33% increase. Uh, you know, there are 125 homes or so, 130 homes, almost 130 homes, you know, more in increase, you know, year, year over year.

So, um, that's pretty significant, you know? Really across the board. It's a big jump in inventory, especially when it's not like we're being flooded with new inventory. It's just homes that have been listed for the last 2, 3, 4, 5, 6 months that aren't selling. And really, this is really reflective.

This is what I'm seeing as a real estate agent on a daily basis, you know, with my clients. Um, we are. As we put new homes on the market, if they are not priced well and sometimes even a little below market value, and if they are not, you know, move in ready and squeaky clean and really have something truly compelling about 'em, they're really not selling right now.

You know, there's a lot of competition out there. I mean, you could see, you know, and. City of Temecula's, over 500 homes for sale. There's a lot of competition and as the market has slowed down, as this inventory starts to stack up, you really have to be able to stand out with your home in order to get the attention.

Um, or if, if not, you send up, end up at a point where we're doing, we're doing price reduction, so showing a lot of price reductions across the board. Um, that is something we've seen more and more over the last, you know. We've seen 'em over the last two years. Yes. Over the last one year, but even more over the last, year.

60, 90 days. And in the last 30 days, even more in the last couple weeks, even more so. Um, as the market continues to slow, we're seeing more price drops, price up, price drops. If you've been watching any homes that are out there, um, you've probably seen a lot of that. And really it feels like there's actually some really good deals out there for buyers as, as opposed to what you could have bought, you know, six months ago, a year ago.

I think there's some really good values that are out there. All right, so the next step we're gonna talk about is your average days on market. So this is just, hey, in a given city, how long is the average home taking to sell? Right? And so if an average home is taking longer, if it's taking months and months to sell, that's gonna be more of a buyer's market, right?

Where homes are slower and slower, and then a seller's market is gonna be more fast paced and homes are selling quicker and quicker. You know, they're selling in two, three days or a week, or, you know, what, what have you. So, um, in Temecula a year ago, the average home was selling in about 24 days. Uh, this year we are now at actually up to 41 days.

So that is, it's a pretty good increase. I mean, percentage wise, that's a 71% jump. Um, but in reality, I mean, that's still less than a month and a half is the average home taken to sell. So that is not terrible. And I personally look at the other, you know, the inventory. I thought I would see a lot worse stat there.

Uh, city Murietta and, and Menifee are kind of similar trend lines. So, a year ago in Murietta, the average home was taking 30 days to sell. This year we are at 39 days, so nine days longer, that's a 30% increase. Uh, but still, you know, less than 40 days. You know, less than 45, less than 40 days to sell. Um, the city of Menifee, really the same stat.

A year ago, the average home was sold in 30 days. We are now today at 39 days. Again, another 30% increase. So, uh, it's kind of interesting, you know, that I thought we'd. You know, with the inventory stacking up, we start seeing this jump up to 60, 70, 80, 90 days on market. We're not seeing that. Keep in mind these homes, like these, these are days on market average for sold homes, right?

So, um, that means the homes that are actually selling are selling relatively quickly, you know, 30, 45 days. Um, but. You know, this has been, it's now been, you know, two or three months now of this slowing market. And these days on the market really hasn't changed too much. So, um, you know, the average homes are still selling relatively quickly, but if you're overpriced, you're gonna sit there and you're gonna sit there for months and months and months.

So, uh, pricing is definitely key. All right, so the last stat we're gonna talk about is your total sales price. So the average sales price for each city. Um, and this, this is obviously the one that everyone's gonna care about the most, right? Is, you know, what's, what's my house worth? Or, you know, what's going on in the market.

Our home price is tanking. You know, what is happening. Um, and really we are not. Seeing a really big significant change. Actually one of the cities we're seeing average price points has actually increased over the last year. Um, in general, you know, as a real estate agent, it feels like we are seeing some de, you know, more decreases, more price cuts.

I think, you know, home values are trending down, you know, a few percent, but it's not. It doesn't feel like it's this big massive, you know, crash by any means. Um, at least today, you know, in August, 2025. So, um, in Temecula a year ago, so 2024, the average home was selling for $871,000. And Temecula this year, in August, they are now selling for $911,000.

So that actually shows a 5% increase. Um, again, you know, that's a, uh, I think I probably mentioned this every month. You know, I don't think home prices increased 5% year over year. I don't think people have gained 30, 40 grand in equity. That's probably not accurate, right? A lot of times something like this, we start seeing some outliers, a few more high-end, you know, big ticket price points that are selling, that are kind of swaying the difference, or maybe a few more less low end homes that are kind of swaying, swaying that average.

But, um, the average price point in Temecula has gone up year over year. City Murietta. A year ago, the average home was selling for $762,000, and this year we are now at $730,000. So that's a 32,000 decrease. That is a 4% drop. Um, yeah, that, this to me, this is kind of more what I feel. You as an agent, you know, more flat line, down 2%, down 3%, some, somewhere in that range, you know, depending on the house.

Uh, the city of Menifee, we saw another decrease. So the average sales price a year ago. It was just under 600 thousand at $598,000. This year we were down to $568,000. Again, about 30%, $30,000 decreased to 5% drop. Um, so that, again, that's kind of more what I'm, what I'm feeling on a day to day basis. Um, you know, as the market continues to change, you know, it feels, uh, it definitely, it's a sluggish real estate market right now.

Homes are selling, you know, it's not like it's this big crash, anything like that. Um, but there are definitely some better deals out there and a lot of homes that are, that are sitting. And I think a lot of buyers that are on the fence kind of have some uncertainty about what's going on. Um, I do think, as you know, we see some, maybe eventually, you know, some help in interest rates getting a little more affordable.

I think that's gonna get a lot of people off the fence and want to buy. Uh, but until then, it's gonna be an interesting market to kind of see what happens, you know, where home prices go if things continue to slow, or, um, if people start feeling like, Hey, these are some better bargains and I want to go ahead and, and move forward.

So, uh, but I'll keep you posted with the stats, so feel free to reach out If you guys have any questions, you can call, you can text, you can email me, and hopefully talk to you soon. Thanks.