Alright, so here is our monthly 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, California. And this video is our monthly staple. This is our real estate market update. We're gonna go over all the latest real estate. Stats here for the city of Temecula, Murrieta, and Menifee, California.

And then we're gonna compare the market today and the stats today versus what we were seeing a year ago. So 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, subscribe. Obviously it helps me, obviously it helps my channel as we try to continue to grow it.

Um, and we have a ton of other real estate videos. We put 'em up each and every week. So if you wanna subscribe, you can keep an eye out for those. And then if you guys have any real estate questions, you can feel free to reach out anytime. So you can see my information either at the end of the video or down below.

You see my cell phone, you can feel free, you can call, you can text, or you can email me. You know, happy to answer any questions. You may, you may have help, point you in the right direction. Um, or of course if I can help you out with your real estate search, you know, I'd love to do that. That is, uh, that's how I earn a living.

So would love to, love to help you out with that. Alright, so we're gonna start with some stats. Uh, first thing we are gonna start with. The city of Temecula, and we're gonna talk about the total number of new listings. So a year ago, so this would be September, 2024, in the city of Temecula, we saw a total of 153 new listings popping up on the market.

And then a year later, so over the last 30 days now. We've seen a total of 136 new listings pop up on the market. So we are definitely seeing less listings this year, as opposed to last year. It's an 11% decrease in the total number of new listings coming up on the market. City of Murrieta, you're kind of seeing the same trend.

So a year ago, so September, 2024, we saw a total of 186 new listings coming up on the market. This year we're down to 167, so about 20 less homes popping up for sale. That's a 10% decrease. And in the City of Menifee a year ago we saw a total of 217 new listings come up on the market, and this year we're down to 171.

So that's a bigger change. You know, that's, uh, that's getting close to 50 less listings coming up on the market this year as opposed to last year, and that is a 21% change. All right, so that takes us to our next stat that we're gonna talk about, and that's. The total number of active listings. And basically this is just, Hey, if I'm a buyer, if I wanna buy a home in a given city, say the city of Temecula, how many homes are out there for me to choose from?

Right. And we just saw that there's less new listings coming up on the market today. Uh, but you're gonna see in all three of the cities, there's actually significantly more homes still for sale this year compared to last year. So even though there's less inventory coming, more homes are sitting and it's, you're seeing more and more homes out there to choose from. 

Uh, because the homes that have been listed over the last 2, 3, 6 months, you know, have sat a little bit more in the city of Temecula. So a year ago, September, 2024, there were a total of 351 available homes to choose from and then right now in Temecula, we are up to 479 available homes to choose from.

That's a pretty big increase. It's a 37% increase. I mean, that's a hundred, almost 130 more homes this year compared to last year that 's definitely substantial. Uh, city Murrieta kind of sees the same thing. A year ago in Murrieta, there's a total of 422 available homes to choose from, and this year we are up to 489 homes, so that's a 16% increase.

City of Menifee. A year ago we were at a total of 405 homes, and this year we are up to 494, so that's a 22% increase. Again, you're, you're almost 90 more homes to choose from this year as opposed to last year. So it's definitely pretty significant. I think this is now like the fourth month in a row that we've seen the same thing where new listings are actually down, but total available listings in inventory is just sitting and you know, there's more available listings this year compared to last.

All right, so the next stat we're gonna talk about is the average days on market in each city. Uh, so this is really just how long is the average home taking to sell, right? If I put my home up for sale, is it gonna sell super fast? Is it gonna take months and months to sell? You know, the shorter timeline lends itself to more of a seller's market, and a longer timeline lends itself to more of a buyer's market, right?

So, the city of Temecula, so a year ago. The average home was selling in 25 days, and then now 2025, we were up to 33 days is your average home in Temecula. So that's a 32% increase. So, which is, you know, it is significant, but really the average home is still selling in just just about a month, right? So, um, it's, that's not super drastic.

That's not a big change, really. We don't start considering things to be closer to a, to a buyer's market until in the 90 day mark. Uh, but. You know, with it, it, it just, it's an interesting market, right? I mean, the homes are taking longer to sell. There's more inventory sitting there. Uh, but they're not taking substantially longer.

They're not taking as long as I would think than I think most buyers would think. Um, with how much things have, uh, are piling up on the inventory side. So, uh, the city of Murrieta and Menifee, kind of, you're gonna see the same trends. So a year ago in Murrieta, the average home was selling in 25 days as well.

Uh, we are now up to an average of 42 days, so that's a 68% increase. I mean, that, that's. Significant, right? I mean, that's multiple weeks longer, right? But still, it's not even two months for the average home to sell. So that's not terribly long or terribly slow at all. Um, the city of Menifee, a year ago, the average home was selling in 34 days, and now we are up to 47 days.

So that's a 38% increase. So, you know, across the board, your market is slowing, homes are taking longer to sell. But it's just, it's not as drastic as what I would've thought, uh, based on, you know, this is now, like I said, like the fourth month that we're seeing a slowdown and how much inventory is piling up.

It's just not as big of a change here as I would think. All right, so the last stat we're gonna talk about is the average sales price. And, and really, I guess I, I'll give you the answer here, but, and I, I'll give you this, The specifics in just a minute. Um, but across the board, the average sales price is pretty much flat across all three cities.

And really, I think that is surprising based on, you know, how much inventory is starting to pile up. Um, you know, again, homes are taking a little bit longer to sell, just not, you know, super, super drastically longer. Uh, but you would start, you would think that you start to see the sales price really start to dwindle.

But we've seen pricing hold pretty steady over the last handful of months. You know, we are seeing more price reductions on the listings that are out there. So as homes aren't selling, you're seeing, you know, price cut, price cut. Um, I think a lot of 'em probably started just too high in the price point.

Uh, but again, I would think that we would see a much larger percentage down of average sales price than we are. So really we're seeing about a flat line and with how things have fallen over the last few months, I thought we'd see a little bit lower. So I think this is pretty encouraging if you're a seller, um, not as exciting if you're a buyer.

I guess. So, uh, the city of Temecula. The average sales price a year ago was $832,000, and this year we were up $5,000 to an average $837,000. Uh, so that's just less than a 1% increase. Um, you know, more or less really about a flat line. Your, um, for your average sales price in Temecula. Uh, city Murrieta, same thing.

So a year ago the average home was selling for $698,000, and this year the average home is selling for $698,000. So it's a no no change there. Really steady, steady line across the board. Um, and then the city of menifee, A year ago, the average home was selling for $577,000. Uh, this year we are down to $562,000.

So that is probably the most substantial change. That is a $15,000 difference in Menifee for your average sales price. It's a 3% difference. Um, you know, we'll kinda see how that trends over the next few months. But, um, again, you know, the market has definitely been slowing over the last few months.

You know, we're seeing less transactions, we're seeing more homes sitting, we are seeing more price reductions, but average sales prices are very steady. You know, homes are taking a little bit longer to sell, uh, but inventory is piling up. So I hope that's good information for you guys. You know, if you have any questions, feel free to reach out.

You can call, you can text, you can email, and hopefully I will talk to you soon. Thanks.